The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has revealed that unbeknownst to young cryptocurrency traders in Nigeria, terrorists are using them to trade to fund terrorism in the country. The EFCC boss said some of the people who received money to trade in cryptocurrencies did not know that their financiers were […]
The Nigerian Communication Commission has announced a temporary suspension of new licence issuance to operators in three categories. The categories are Mobile Virtual Network Operator Licence, Interconnect Exchange Licence and Value Added Service Aggregator Licence. A virtual operator is a company that does not own a mobile spectrum licence but sells mobile services under its […]
Inter Miami’s five-match winning run came to an end on Wednesday as, without the injured Lionel Messi, they were held to a 0-0 draw at Orlando City. Messi had featured in all five of those wins for the MLS league leaders but sat out the game in Orlando due to a knee injury. Inter Miami […]
IN a bid to further secure its area of operations, Nigerdock has signed an agreement with G4S, a global integrated security company, to improve, manage, and oversee the security architecture across Snake Island Port, SIP, and Snake Island Integrated Free Zone (SIIFZ). The engagement of G4S follows a robust security review by Nigerdock to significantly enhance security within […]
Experts in the pension sector have countered the plan by the federal government (FG) to tap about N20 trillion from pension funds to accelerate economic growth, arguing that the plan is not feasible. It will be recalled that the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, told State House correspondents on […]
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting Approval-in-Principle (AIP) to 14 new International Money Transfer Operators (IMTOs). This was disclosed yesterday by the Apex Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, who stated that the initiative will help increase the sustained […]
THE Senate has approved President Bola Tinubu ‘s loan request amounting $500 million in favour of the Bureau of Public Enterprises, BPE, for electricity metering program to improve financial and technical performance of electricity distribution companies, DisCos, under the World Bank funded Nigeria Distribution Sector Recovery Program, DISREP. The approval yesterday was sequel to the consideration […]
A team of policemen from the Works Department of the Force Headquarters, in Lagos, has stormed the senior police officers’ quarters at the Government Reserved Area, GRA, Ikeja and allegedly looted and vandalised the residence of a retired Commissioner of Police, Chucks Enwonwu. Eyewitnesses said the team of policemen numbering over 10 came to the […]
The Nigeria Labour Congress(NLC) and Trade Union Congress of Nigeria (TUC), on Thursday, walked out of an ongoing minimum wage negotiation meeting, in protest against the Federal government’s proposal of N48,000 as the new minimum pay for workers. NLC and TUC had on May Day, proposed that the Federal government should pay Nigerian workers N615,000 […]
The Naira further depreciated to N1,530 per dollar at the parallel market on Wednesday, May 16th, 2024 in contrast to N1,525 recorded Tuesday. Even though the Nigerian Autonomous Foreign Exchange Market (NAFEM) reports an increase for the Naira at N1,459.02 per dollar on Wednesday. Data from FMDQ indicated that the indicative exchange rate for NAFEM […]
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