Business

The world largest cryptocurrency, Bitcoin, going by market capitalization, has surged above $40,000 — for the first time since mid-June. According to data obtained from coinmarketcap.com, the price of the cryptocurrency traded 7.1 percent higher on Wednesday afternoon, reaching $40,606 by 1:12p.m. It would be recalled that the last time Bitcoin traded above $40,000 was …

The Central Bank of Nigeria (CBN) says it has ended forex sales to Bureau De Change (BDC) operators in the country. This was made public by Godwin Emefiele, governor of the apex bank, announced this at the end of the Monetray Policy Committee in Abuja on Tuesday. According to Emefiele, BDC operators have become an access …

Despite claims by the Buhari led administration that it has lifted millions of Nigerians out of poverty, the World Bank in its latest session says the country’s revenue to gross domestic product (GDP) ratio is the lowest in the world. This unsavory news was made public by Shubham Chaudhuri, the bank’s country director for Nigeria …

Amidst fears of global spread of the new COVID-19 delta variant , oil prices have tumbled below $70 as traders grappled with the demand implications as some countries plan reintroduction of lockdown measures to curb the highly contagious new strain. Brent crude, the international oil benchmark, rose to $68.74 a barrel at 09:33 am GMT …

Some good news came tie way of Nigeria as the country’s inflation rate fell for the third consecutive month, in June to 17.75 per cent from 17.93 per cent recorded in May, despite a geometric increase in food prices, theNational Bureau of Statistics said. According to a release from the statistics office on Friday , it …

The senate has approved new fresh loans of $8.3 billion and €490 million requested by President Muhammadu Buhari. The approval was done after Clifford Ordia, chairman of the committee on local and foreign debts, presented a report during the plenary session on Thursday. The new loans approval have been provisioned for under the 2018-2020 external …

MultiChoice Nigeria has refuted claims by the Federal Inland Revenue Service (FIRS) that it invaded tax saying it has not received any notification from the agency. The FIRS, on Thursday morning, announced that it is freezing the accounts of the Cable company and also appointed agents to recover N1.8 trillion from accounts of MultiChoice Nigeria …

The Federal Inland Revenue Service (FIRS) has ordered the immediate freezing of accounts belonging to Multichoice as it aims to recover N1.8 trillion over ‘tax evasion’ Disclosing this is Muhammad Nami, FIRS chairman, who said the decision to appoint the banks as agents and to freeze the accounts was as a result of the group’s …

According to a report from TheCable, the Nigerian Bulk Electricity Trading (NBET) Plc has allocated a total of N7,620,840,000 for the “senate” in its 2021 budget but has curiously been unable to settle invoices from GenCos. In the data, a key operational and financial of the industry, it indicated that between January 2019 and September …