Nigeria FG Concludes Takeover Of Four DisCos.
The Federal Government has completed the takeover of four electricity distribution companies; and constituted the board of the Nigeria Electricity…
Author: akintunde
Power Production Was Reduced By Striking Workers To 43 MW-FG.
The recent one-day strike by workers of the Transmission Company of Nigeria crashed Nigeria’s power generation from a peak of…
FG To End Petrol Subsidy In June 2023.
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022; grilled the…
Vodafone To Sell Hungarian Business For $1.8 Billion.
Britain’s Vodafone (VOD.L) will sell its Hungarian business for 715 billion forints ($1.8 billion) in cash, it said on Monday, in a…
ENaira Records 200,000 Users, N4bn Transactions Value – Emefiele
The Central Bank of Nigeria (CBN), digital currency, eNaira has recorded 200,000 volumes; and four billion Naira value of transactions…
FG Spends N18.397bn On Petrol Subsidy Daily –Minister
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022; grilled the…
Bitcoin Drops For Fourth Straight Day On US Fed’s Hawkish Stance.
Bitcoin and many crypto assets fell for a fourth straight day as investors continued to be perplexed by recently released;…
Nigeria’s Inflation Rate Ballooned By 170% Under President Buhari In 7 Years.
Nigeria’s consumer price index (CPI), which is use to measure the level of inflation in the country has risen by…
Valereum To End Bitcoin Mining To Focus On Gibraltar Exchange.
Blockchain company Valereum (6TJ.SG) said it was selling its bitcoin mining assets to Vinanz Ltd; for a 24% stake in the company…
Sterling Struggles As Inflation Outlook Sours Mood.
The British pound weakened against the dollar after policy minutes from the Federal Reserve boosted the U.S. Currency and traders…
Swiss Gold Exports To China Surge To 5-1/2-Year High.
Swiss exports of gold to China in July rose to their highest since December 2016, Swiss customs data showed on…
Vietnam Orders Tech Firms To Store User Data Onshore.
Vietnam’s government has ordered technology firms to store their users’ data locally; and set up local offices, its latest move…
EUROPE POWER Rising German Solar Supply Weighs On Spot Prices.
European spot power prices fell as German solar supply is seen rising; while French nuclear availability increased. German baseload power…
Blame Policymakers, Lawmakers For Oil Price Rises, OPEC Sec Gen Says.
Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, Secretary General…
Russian Mobile Operator MTS Reports 36% Drop In Q2 Net Profit.
Russia’s biggest mobile operator MTS reported a 36.4% drop in second-quarter net profit from the same period last year; as…
Asset-Backed Stablecoin, HUSD, Loses Peg, Drops To $0.92.
The HUSD stablecoin, which touts to be a “secure, reliable, and fiat-collateralized stablecoin, that combines the stability of the US dollar…
Canada Inflation Eases To 7.6% In July, But Analysts Eye Oversized Rate Hike.
Canada’s inflation rate eased slightly in July, as lower gasoline prices outweighed fast-rising food prices; but economists said hot core…
Memecoins Rally As Crypto Market Cools Off.
Its “meme” rally in the cryptocurrency space as investors seem to be hungry to take on more risk given the…
Ghana’s Central Bank Hikes Interest Rate To 22% To Combat Inflation, Forex Crisis.
Ghana’s central bank has raised its interest rate by 300 basis points to 22% to tame inflation and stabilize the…
Seme Customs Intercepts 119,940 Litres Of Petrol Worth N28.924m – Nigeria.
The Seme Command of the Nigeria Customs Service (NCS) has intercept 3,998 jerry cans of Premium Motor Spirit (PMS); equivalent to 119, 940…
Why We Can’t Generate 5,000mw Of Power – Nigeria FG
The Federal Government blamed its inability to reach the target of 5,000 megawatts of electricity generation as promised on shortage of…
After Elon Musk’s Joke, A Fake Manchester United Token Increases By Nearly 3,000%.
A fake Manchester United token as gained over 3,000% after Elon Musk, the world’s richest man, stated that he was…
Naira Appreciates Slightly At Black Market, Trades At N677/$1.
Wednesday, 17th August 2022: The exchange rate between the naira and the US dollar closed at N429.38/$1 at the Investors and…
Electricity Workers Suspend Strike Amid Blackout- Nigeria.
The National Union of Electricity Employees (NUEE) has suspended its nationwide strike for two weeks. The secretary-general of the union, Joe…
After the Fed minutes, Asia’s Shares Decline But The Dollar Remains Stable.
Asian shares fell, tracking Wall Street’s losses as the U.S. Federal Reserve looked set to maintain its path of interest…
IFC Of The World Bank Uses Blockchain To Track Carbon Offsets.
International Finance Corp (IFC), a World Bank affiliate, told Reuters it is backing a blockchain-enabled platform to trade carbon offsets;…
CBN Raises Interest Rate on Naira Savings Deposits to 30% of MPR.
The Central Bank of Nigeria (CBN) has announced an upward adjustment of the negotiable minimum interest rate; payable on local…
UBA Launches Innovative Experience Centre in Abuja, Nigeria.
Africa’s Global Bank, the United Bank for Africa has just launched a modern and future-forward Experience Centre in Abuja, Nigeria.…
ExxonMobil Assets: Oil Workers Commend FG’s Rejection Of Seplat Acquisition.
Oil workers under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN); have hailed President Muhammadu Buhari’s…
Crypto.com Gets UK Regulatory Approval.
Singapore-based cryptocurrency platform Crypto.com has registered with Britain’s financial services regulator, the company said in a statement on Wednesday. Joining…