Browsing: Business

Elon Musk takes back world’s richest man title after gaining almost $10 billion in a day

Billionaire, Elon Musk bounced back strongly to become the world’s richest man after a daily gain of $9.81 billion on Wednesday, February 24. Tesla, Musk’s company surged back to $190 billion, after the electric car company’s shares recorded impressive gains of 6.18%, thereby putting the market value of Tesla at $712 billion coupled with the…

Cryptocurrency has no place in our monetary system at this time – CBN governor, Godwin Emefiele tells Senate

The Central Bank of Nigeria is maintaining its stand on the ban on Cryptocurrency. The governor of the apex bank, Godwin Emefiele, who appeared before the Senate Joint Committee on Banking, Insurance, and other financial institutions on Tuesday, February 23, said that money laundering, terrorism financing, and other criminal activities were being carried out…

Nigeria’s restructuring should be based on economic viability – AfDB President, Akinwumi Adesina

Former Minister of Agriculture and President of the African Development Bank Group, Dr. Akinwumi Adesina has said that the restructuring of Nigeria should be driven by economic and financial viability. In a public lecture titled ‘Toward a New Nigeria From Federal Fatherism to a Commonwealth’ and delivered virtually from the base of the African…

Billionaire businessman, Jimoh Ibrahim loses bid to recover seized assets

Billionaire businessman, Jimoh Ibrahim’s application for a Lagos Division of the Federal High Court to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize his properties has been denied. Recall that on November 18, AMCON announced that it had taken over 12 properties belonging to the businessman and his firms. Following the seizure,…

Cryptocurrencies have become well-suited for conducting many illegal activities – CBN

The Central Bank of Nigeria has explained why it banned cryptocurrency-related transactions in the country. The apex bank in a statement released on Sunday February 7, said cryptocurrencies have become well-suited for conducting many illegal activities including money laundering, terrorism financing, purchase of small arms and light weapons, and tax evasion. Daily Trust reported that…

Petrol price may hit N190

There are speculations of petrol price hitting N190 amid concerns over the non-implementation of the full deregulation of the downstream petroleum sector. Top officials of two major marketers’ associations who spoke to Punch, said the continued increase in oil prices had brought back petrol subsidy as the pump price of petrol should be between N185…

CLO Condemns AMCON’s Disobedience Of Court And Attempt To Sell Company’s Properties Despite Court’s Vacation Order

The Civil Liberties Organization has berated AMCON for failing to obey court orders on an ongoing case involving the agency and Peace Global Satellite Communications Limited. The Human Rights Organization made this disclosure in Lagos today during a press conference. The organization stated below its findings after a thorough investigation of the dispute…

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