Tesla Buys $1.5bn in Bitcoin, Pushing Price to New High of $47,000
Tesla, the electric car company run by the world’s richest person, Elon Musk, revealed on Monday that it had bought $1.5bn (£1.1bn) in bitcoin and said it may soon accept payment
CBN’s Declaration of War on Cryptocurrency Unnecessary, Kingsley Moghalu Says
Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN) has described the clampdown on cryptocurrency by the country’s apex bank as unnecessary, likening it to a
Hyundai, Kia Say Apple Car Deal is off
South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage talks with
Nigeria’s Central Bank Investigates Cryptocurrency Companies’ Bank Accounts for Fraud
The Central Bank of Nigeria (CBN) has opened investigations into bank accounts of companies involved in the trading of cryptocurrencies with the intention of blocking those with suspicious transactions and
NNPC Earned $108.84m from Oil, Gas Exports in November
The Nigerian National Petroleum Corporation (NNPC) on Sunday put its total earnings from export sales of crude oil and gas in November 2020 at $108.84 million. In a release on
Buhari, Okonjo-Iweala, Adesina, Others to Speak at Lagos Economic Summit
President Muhammadu Buhari, former Lagos State Governor, Senator Bola Tinubu; former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; President, African Development Bank (ADB), Dr. Akinwunmi
Cuba Opens up Economy to Private Businesses
Cuba has announced it will allow private businesses to operate in most industries, in what is a major reform to its state-controlled economy. Labour Minister Marta Elena Feito said the
Nigeria’s Capital Importation Falls to $9.68bn, Lowest in 4 Years
The total value of capital importation into Nigeria contracted by 59.65% to $9.68 billion in 2020 compared to $23.99 billion in 2019, the National Bureau of Statistics (NBS) stated on
Nigeria Expects $500m From Sale of Marginal Oil Fields
The Nigerian government has said it expects to receive no less than $500 million from the signature bonuses and sale of marginal oil fields. Sarki Auwalu, the Director at the
CBN Orders Banks to Shut Accounts of Persons Involved in Cryptocurrency Trading
The Central Bank of Nigeria (CBN) has ordered all financial institutions including banks in the country to shut accounts of citizens or entities involved in cryptocurrency transactions within their systems.
Nigeria Suspends Emirates Flight in Response to Covid-19 Rapid Test Requirements
The Nigerian Civil Aviation Authority (NCAA) has placed a 72-hour suspension on outbound Emirates flights from Nigeria. In a February 4, the NCAA said Emirates Airlines violated guidelines put in
Google Opens Paid-for Australia News Platform in Drive to Derail Canberra’s Content Payment Law
Tech giant Google on Friday launched a platform in Australia offering news it has paid for, striking its own content deals with publishers in a drive to show legislation proposed
Investors Flock to $5 Billion Alibaba Bond Deal, Shrug off Regulatory Woes
Alibaba Group Holding Ltd’s $5 billion U.S.-dollar bond offering received demand for eight times the debt offered, underscoring global investors’ faith in founder Jack Ma’s e-commerce behemoth despite a regulatory
Nigeria LNG Generates $108bn, Delivers 5,000 Cargoes in 21 Years
The Nigeria Liquefied Natural Gas (LNG) has delivered 5,000 cargoes to its customers around the world and generated $108 billion from gas sales in its 21 years of operations. The
US Stocks Rise on Strong Jobs Data
Wall Street rose for the fourth session in a row on Thursday, with the S&P 500 and the Nasdaq Composite finishing at record closing levels, as solid economic data buoyed
Bank of England Holds Interest Rate
The Bank of England voted unanimously to keep its benchmark interest rate on hold at a record low of 0.1 percent and left its bond-buying programme unchanged during its February
Oil Price Rises to $58, OPEC Exceeds Output Cut Target
The Organisation of Petroleum Exporting Countries (OPEC) on Wednesday said its members had achieved 101% adherence to crude oil output cut mandatorily agreed upon last year to curb huge supply
Oil Rises to Near One-Year Highs After US Stock Drawdown
Oil prices rose almost 2% on and hovered near their highest levels in about a year, after government data showed U.S. crude stockpiles fell to their lowest since March, while
Stanbic IBTC Reels out PMI number for Some African Economies
The Stanbic IBTC Bank Nigeria Purchasing Managers Index edged down to 50.7 in January of 2021 from 51.8 in the prior month, pointing to the smallest expansion in the country’s
Jetblue CEO Expects Fast Recovery after Pandemic
JetBlue Airways CEO Robin Hayes said that he foresees a quick recovery for the airline industry following the end of the coronavirus pandemic. Though Hayes expects a continued loss of
