Estimated Reading Time: 2A former presidential candidate, Adamu Garba has explained that the reason the Central Bank of Nigeria issued a directive to banks and other financial institutions to stop transacting in cryptocurrency is because the cryptocurrency market cannot be regulated. Mr Garba disclosed this when he appeared on a[Read More…]
Business
Crypto Ban: CBN should not make hasty policies – Ben Murray-Bruce
Estimated Reading Time: 1Former Senator, Ben Murray-Bruce has reacted to the ban issued to Financial institutions against having any crypto or facilitating payments for crypto exchanges. NewsWireNGR had reported that the Central Bank of Nigeria, CBN, on Friday warned Deposit Money Banks (DMBs), Other Financial Institutions (OFIs), Non-Bank Financial Institutions[Read More…]
CBN orders banks to close accounts dealing with bitcoin, other cryptos
Estimated Reading Time: 1The Central Bank of Nigeria has prohibited the cryptocurrency systems and directed banks and other financial institutions to close accounts operating in the cryptocurrency systems. The apex bank issued this directive in a circular sent to these financial institutions on Friday morning. It cited a 2017 circular[Read More…]
Lagos to phase out danfo, molue in transport masterplan
Estimated Reading Time: 1Lagos State government has disclosed plans to phase out yellow buses also known as ‘danfo’ or ‘molue’ in the state. This was disclosed by the state’s Commissioner for Transportation, Frederic Oladeinde in a virtual forum on Thursday. He said this was in accordance with the transportation masterplan[Read More…]
Customs seize smuggled goods worth over N40m
Estimated Reading Time: 1The Nigeria Customs Service (NCS) has announced the seizure of smuggled goods worth N40.530 million in Duty Paid Valu (DPV). This as disclosed by Comptroller Al-Bashir Hamisu at the Federal Operations Unit (Zone B) headquarters along the Kaduna-Zaria highway on Wednesday. He said, “The duty paid value[Read More…]
Wuse Market Abuja to be closed for breaching COVID-19 protocols
Estimated Reading Time: 1The Federal Capital Territory Administration, FCTA, has ordered the closure of Abuja’s popular Wuse market, the UTC shopping Centre and the Morg Plaza both in Area 10 of the Garki district of the capital city. The Head of Publicity and Enlightenment of the FCT Ministerial Task Team[Read More…]
Outrage as Abuja area council charges hotel N500,000 radio and television licence fee
Estimated Reading Time: 1Nigerians are reacting after an Abuja-based hotel, Jasmine Hotels and restaurant lamented the hefty radio and television licence it was charged. In a photo shared online, the Abuja Municipal Area Council on Wednesday, January 27 reportedly charged the hotel N500,000 as radio and television fee for 2021.[Read More…]
3rd Mainland Bridge to be shut for another 3 days – FG
Estimated Reading Time: 2The Federal Controller of Works Lagos, Mr Olukayode Popoola on Wednesday announced another three days of a total shutdown of the Third Mainland Bridge for another round of delicate expansion joints replacement. Popoola told the News Agency of Nigeria (NAN) that the shutdown would take effect from[Read More…]
Lagos State Government restricts trucks, articulated vehicles movement to 9pm-6am daily
Nigeria earned N1.53Trillion from VAT In 2020 – NBS report
Estimated Reading Time: 2Nigeria has recorded an increase in Value Added Tax revenue to N1.53trn in 2020 despite the impact of the Covid-19 on the different sectors of Africa’s biggest oil producer. The rise was against the N1.18trn generated by the different sectors at the end of 2019. This was[Read More…]
