CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively.
The Central Bank of Nigeria (CBN) has raised the limit for ‘Highly Secured Online Funds Transfer’. This begins from N100…
Month: June 2022
Bitcoin Miners Now Selling Their Holdings As Bearish Market Persists.
It looks like the bearish market is hitting all sectors of the cryptocurrency space. Including those that are charged with…
Walmart To Add 4,000 Jobs With Four New U.S. Fulfillment Centers.
Walmart Inc announced plans to open four new fulfillment centers in the United States over the next two years. Creating…
Ripple Aims To Acquire Additional Projects Despite Crypto Winter.
Ripple CEO, Brad Garlinghouse said the San Francisco-based payments company will explore acquiring additional crypto ventures in the future. The…
Japan Passes Stablecoin Bill Focused On Investor Protection
A Northeast Asian country, Japan, becomes one of the first major economies to introduce a legal framework surrounding stablecoins. This…
Venture Capital Crypto Investments Decline By 38% In May 2022.
Due to the bear run the cryptocurrency space has been experiencing throughout the year, not only are retailers losing money.…
Nigeria’s Foreign Trade Rises To N13 Trillion In Q1 2022
Nigeria’s foreign trade rose to N13 trillion in the Q1 of 2022, increasing by 11.1% from N11.7 trillion recorded in…
Asia Shares Lifted By U.S. Futures, Oil Climbs
Asian shares joined U.S. stock futures in making cautious gains on Monday ahead of U.S. inflation data this week. While…
Nest Egg No More: Inflation Eats Canadian Consumer Cash Pile, Risking Growth
An extra C$8,300 ($6,600) in your pocket. That is roughly how much the average Canadian saved during the pandemic. The…
Despite Negative Yield, Investors Oversubscribe CBN’s June 2022 T-Bills By 527%
Nigeria’s high inflation rate has permitted a negative yield in the fixed income market. A whopping 527% oversubscribed the Central…
FG, NEXIM Sign $40m Women In Oil Sector Fund
The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and…
Crypto Industry Gripped By Anxiety As Bitcoin Wobbles Near Key $20,000 Level
The cryptocurrency industry is on edge, as investors feared contagion from problems at major crypto players could unleash a major…
Global Markets Quake As Central Banks Grow More Hawkish
Expectations for how drastically central banks need to tighten monetary policy to fight soaring inflation have taken another leap higher.…
Euro Rises Despite French Election As Dollar Retreats
Euro rose on Monday despite French President Emmanuel Macron losing an absolute majority in the country’s parliamentary election. As the…
Top Three Aussie Miners To Shed $11Bn In Market Value As Commodity Rout Accelerates
Australia’s big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value. As…
China’s Oil Imports In May From Russia Soar To A Record, Surpassing Top Supplier Saudi
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi…
Indian Shares Flat As Metals Counter Gains In Consumer Stocks
Indian shares were little changed on Monday, with gains in consumer stocks offset by losses in metals, while global prices…
Danone Trims Product Range As Shoppers Balk At High Prices
French food giant Danone (DANO.PA) is cutting the variety of products it sells to retailers to reduce costs. However,This means…
Babel Finance Suspends Withdrawals As Crypto Markets Slump
Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemptions of crypto assets on Friday. As the crypto lender scrambles…
Lagos Businesses Spend N5.3Trillion On Fossil Fuel Annually
Lagos State residents and businesses operating in the state spend about N5.3 trillion annually on fossil fuel because of the…
Inflation Will Push 15 million Nigerians Into Poverty In Two Years.
The World Bank projects an inflation shock to push about 15 million more Nigerians into poverty between 2020 and 2022.The…
Nigerian Export Promotion Council (NEPC) Eyes 40% Increase In Exports Through Trade Houses
With the launch of trade houses in Egypt and Togo, NEPC, is targeting a 40% increase in the country’s exports.…
Central Bank Of Nigeria’s Intervention Funds Fuelling Inflation, World Bank Warns Nigeria
The World Bank says the Central Bank of Nigeria’s development finance intervention is fuelling inflation in the short term. Which…
Federal Government Of Nigeria’s Spending On Pension, Gratuity Falls To N356bn
The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021. This is according to figures obtained…
Asia Shares Slip, Hard To Dodge Recession Risks
Asian shares slipped on Monday and Wall Street futures eked out slight gains amid worries the U.S. Federal Reserve would…
Credit Suisse Rejects $515 Million Claim Linked To Fraudulent Adviser
Credit Suisse (CSGN.S) on Sunday rejected a claim by Russian businessman Vitaly Malkin for 500 million francs ($515.62 million). Which…
Nigerian Banks Maintained Stability Despite COVID-19 Challenges–NDIC
At the 2022 stakeholders’ retreat of the Senate Committee on Banking, Insurance, and Other Financial Institutions with the Nigeria Deposit…
Nigeria’s Economy Gaining Strength… But Inflation Will Remain High – IMF
Despite Nigeria’s steady economic recovery, inflation, according to the International Monetary Fund (IMF), would stay high. The Washington-based institution said…
Elon Musk Sued For $258bn Over Dogecoin Support
An investor in dogecoin, a cryptocurrency that began as a joke but grew in value championed by Elon Musk, filed…
Fuel Queues Return To Abuja, Motorists Flay NNPC, FG
Fuel queues returned to Abuja as motorists spent hours at filling stations waiting to buy the Premium Motor Spirit. This…