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Tesla CEO Elon Musk has offloaded company shares worth $5 billion. This comes days after setting off a Twitter poll asking whether he should sell 10 percent of his huge stake in the electric carmaker. The zany billionaire, the world’s richest man with a net worth of around $300 billion, […]
The value of mobile money transactions rose to 9.72 percent of Nigeria’s Gross Domestic Product in 2020 as the COVID-19 pandemic lockdowns allowed more people to use Internal banking and other digital transaction. However, the number of registered mobile money agent outlets per 1,000km2 reduced to 141.81, according to the […]
Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, has confirmed the investigation of the founder of abokiFX, Oniwinde Adedotun. According to reports, the apex bank on Thursday opened an investigation on Adedotun and abokiFX Limited for “illegal foreign exchange transactions”. AbokiFX is a web platform that reports movements […]
Nollywood, the Nigerian movie industry, produced a total of 1,051 films in the first half of 2021 — 18 higher than the 1,033 recorded within the same period last year. The National Bureau of Statistics (NBS) revealed this in its latest report published via its website on Wednesday. According to […]
The federal government says the 2022 appropriation bill may be presented to a joint session of the national assembly in October. Zainab Ahmed, minister of finance, budget and national planning, revealed this during a press briefing in Abuja on Monday organised for the minister to provide insight into the recent […]
Nigeria’s gross domestic product (GDP) has attained its strongest growth since fourth quarter 2014 as it increased by 5.01 percent in the second quarter of 2021. This is according to the second-quarter GDP report released by the National Bureau of Statistics (NBS) on Wednesday. This also marks three consecutive quarters […]
Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has asked developed countries to channel their shares of the International Monetary Fund (IMF) $650 billion special drawing rights (SDRs) to poor African nations. In a tweet on Tuesday, Okonjo-Iweala praised managing director of the IMF, Kristalina Georgieva, and shareholders for […]
Crude oil prices have dropped for the sixth consecutive day, longest losing streak since February 2020 amid spike in fresh COVID-19 cases globally. Brent, the global oil benchmark, fell by 2.14 percent to $66.09, on Thursday morning. This is the sixth consecutive fall since the commodity recorded a downward spiral […]
Nigeria is the 6th leading country in the world in terms of cryptocurrency adoption, testament to the resilience of peer-to-peer monetary systems since the Central Bank of Nigeria banned cryptocurrencies. According to the Chainalysis’ 2021 Global Crypto Adoption Index published on Wednesday, global adoption of crypto assets has jumped by […]
