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Nigeria’s currency, the Naira has on Friday, June 16, closed at N663 to the United States dollar at the Investors and Exporters (I&E) window. This has been considered a big gain as the Naira closed at N702 to a dollar on Thursday, June 15. The CBN has already ditched its previous official rate of N463 […]
Continue ReadingAs a popular Nigerian chef, Hilda Effiong Bassey, aka Hilda Baci, is waiting to be certified as Guinness World Record holder for longest cooking marathon by an individual with her 100 hours, another Nigerian chef, identified as Damilola Adeparusi has begun 120 hours cooking marathon in Oye Local Government Area of Ekiti State. Adeparusi simply […]
Continue ReadingBritain’s financial regulator on Thursday tightened rules over the promotion and selling of cryptocurrency as it seeks to protect consumers. The Financial Conduct Authority unveiled a package of measures for the industry, which has long faced criticism over the lack of oversight — and promises of high returns in a volatile marketplace. Under the new […]
Continue ReadingWorld’s richest man and CEO of Moët Hennessy Louis Vuitton (LVMH), Bernard Arnault, lost $11.2 billion in one day, but he is still wealthier than Elon Musk. Musk is the second richest man in the world, with a net worth of $180 billion, $12 billion less than the 74-year-old CEO’s own $192 billion. LVMH, which […]
Continue ReadingBillionaire Nigerian businessman, Mr. Femi Otedola has accused the chairman of Transnational Corporation of Nigeria (Transcorp), Mr. Tony Elumelu, of backstabbing him repeatedly at his most vulnerable moments in business. This came to light on Tuesday in a statement he issued to TheCable, weeks after the businessman acquired stakes in Transcorp and sold the shares. Otedola […]
Continue ReadingModern inventions have rapidly changed the world. From writing letters with pen, ink and paper and taking the letter to the Post Office for postage that may take days, weeks or even months to get to their destinations; to writing email or faxing documents that will get to their destinations almost immediately they are sent […]
Continue ReadingChinese e-commerce giant group, Alibaba has announced that it would split into six smaller business units, according to News Agency of Nigeria (NAN). The split will include online trading, media and cloud services, turning the $220 billion company into a tech holding company. In an unusual move in China, each unit will have its own executive board […]
Continue ReadingFacebook parent company, Meta, announced a fresh wave of job cuts on Tuesday, March 14, as the US tech sector continues to downsize. In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a […]
Continue ReadingNigerian Supreme Court has ruled that the old N200, N500, N1,000 notes remain valid and should be in circulation till December 31, 2023. In a ruling delivered today March 3, the apex court also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. Justice Emmanuel Agim who read […]
Continue ReadingNigerian Supreme Court, on Wednesday adjourned the new naira policy suit to March 3, 2023 for judgement as the court did not do much on the contempt application filed by the plaintiffs against AGF Abubakar Malami and CBN governor, Godwin Emefiele. Responding to counsel for Lagos State, Moyosore Onigbanjo on the issue of contempt, Justice […]
Continue ReadingCentral Bank of Nigeria (CBN) has dissociated itself from a report making the rounds that it had extended the validity of old N500 and N1,000 notes to May 1st, describing the story as fake news. The fake statement purportedly issued by the Director of Communications, Osita Nwanisobi, quoted him as saying: “Due to the current […]
Continue ReadingMega social media, Facebook and Instagram owner, Meta, will launch a paid subscription service starting at $11.99 a month allowing users to verify their accounts, CEO Mark Zuckerberg announced Sunday, following a similar move by Elon Musk at Twitter. Meta Verified, which reports say will roll out first in Australia and New Zealand this week, […]
Continue ReadingA video showing a crowd in front of the Central Bank of Nigeria annex office in Kaduna state as they attempt to deposit their old N500 and N1000 notes has made the rounds on social media. On Thursday, February 16, President Buhari in a nationwide broadcast extended the validity of the old N200 notes till […]
Continue ReadingCentral Bank of Nigeria (CBN), insisting that the old N500 and N1,000 currencies were no more legal tender, has ordered commercial banks to start collecting the old N500 and N1,000 notes from the public with immediate effect. The apex bank however pegged the maximum amount the banks can collect at N500,000. A source from the […]
Continue ReadingThe Central Bank of Nigeria (CBN) has reportedly announced that the old N200, N500 and N1000 ceased being legal tender since February 10, 2023. Though the Supreme Court had issued an order which restrained the apex bank from going on with the February 10 deadline until it rules on a case before it on February 15, […]
Continue ReadingAttorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, has filed processes challenging the jurisdiction of the Nigerian Supreme Court to suspend the scheduled deadline of Naira swap and demonetization. Malami, in a preliminary objection he filed on behalf of the Federal Government, applied for an order striking out the suit that […]
Continue ReadingThe Nigerian Supreme Court has restrained the Federal Government of Nigeria from carrying on with the full implementation of the Naira swap policy. Seven-man justices of the Supreme Court led by Justice John Okoro, has, in a unanimous ruling, granted an interim injunction restraining the Nigerian Government, Central Bank of Nigeria and their agents and […]
Continue ReadingInternet services, SpaceX’s Starlink is now live in Nigeria, according to the company. The Elon Musk-owned firm confirmed this in a tweet on Monday, stating that Nigeria was the first African country to enjoy its services. The billionaire business tweeted, “Starlink is now available in Nigeria – the first African country to receive service.” Nigeria […]
Continue ReadingIn a release on Sunday, the Central Bank of Nigeria (CBN) has extended the deadline for the swapping of old naira notes with the redesigned ones till February 10, 2023. Nigeria’s apex bank said it added “a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection […]
Continue ReadingNigerian president, Muhammadu Buhari, on Saturday, reiterated his earlier position that there was no going back on the naira redesign project and ruled out the extension of the January 31 deadline for the old N1,000, N500 and N200 to cease from being legal tender. The President’s position was supported by the Central Bank of Nigeria, […]
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