Connect with us

Auto

Tesla Adopts Bitcoin as Payment Method for Cars

Published

on

Tesla

By Ahmed Rahma

After purchasing $1.2 billion worth of the world’s largest electronic currency, Bitcoin, Tesla has said it will start accepting the cryptocurrency as means of payment for its electric cars.

The Chief Executive Officer of the company, Mr Elon Musk, made this disclosure via a Twitter post on Wednesday.

“You can now buy a Tesla with Bitcoin” he tweeted, noting that this payment option is only available to customers in the United States for now, with plans to include others later.

He added that Tesla will only use internal and open-source software and that any Bitcoin paid to the company will be retained as Bitcoin and not converted to a fiat currency.

Recall that the California-based Tesla disclosed its $1.5 billion investment in Bitcoin in February, signalling its intent to begin accepting the cryptocurrency as a form of payment at the time, sending prices to a record high.

The world’s leading EV maker made the Bitcoin bet after updating its investment policy in January to allow it to buy digital assets.

Bitcoin rose 3 per cent to $56,108 as of 8:33am in London.

In addition to lending increased legitimacy to electronic currencies, Mr Musk’s embrace of Bitcoin fits his maverick image.

The billionaire has often tweeted about cryptocurrency-related topics and recently called Bitcoin “a good thing” in an interview.

Dogecoin, the once tongue-in-cheek digital currency, also soared to records in February after Musk, rapper Snoop Dogg and Kiss bassist Gene Simmons tweeted about it.

Ahmed Rahma is a journalist with great interest in arts and craft. She is also a foodie who loves new ideas. She loves to travel and would love to visit other African countries someday. She is a sucker for historical movies and afrobeat.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Auto

LASPA Threatens Computer Village Touts Over Illegal Parking Extortion

Published

on

Computer Village Touts

By Aduragbemi Omiyale

Individuals and syndicates involved in illegal parking extortion at the Computer Village area of Ikeja have been warned to desist or face the full weight of the law.

This caution was given by the General Manager of the Lagos State Parking Authority (LASPA), Mrs Adebisi Adelabu, in a statement.

She said her organisation has uncovered a racket where fraudsters, working in collaboration with touts, are illegally collecting parking fees of up to N1,000 from motorists under false pretences.

Mrs Adelabu further revealed that some operatives of the Lagos Central Business District (CBD), in Ikeja, often clamp down on the illegally parked vehicles, either removing their number plates or arranging for the vehicles to be towed away, making vehicle owners pay a significant fine to recover both their vehicles and license plates.

She emphasised that the management and regulation of parking within the Ikeja business district, Computer Village and the entire state is not within the statutory purview of the CBD or any group of touts but rests exclusively with LASPA.

“We are aware of these fraudulent activities, and we want to make it clear that LASPA is the only government body legally mandated to oversee parking in Lagos State,” she said.

Continuing, the GM of LASPA condemned these illicit activities in the strongest terms, describing them as a disservice to the public and an embarrassment to the efforts of the state government at creating a seamless and orderly parking ecosystem.

The management of LASPA therefore urged all perpetrators engaged in illegal parking activities to stop immediately, adding that the Authority has revamped its monitoring and enforcement operations in the Computer Village and the State environs.

While stressing that anyone engaging in illegal parking activities will be arrested and prosecuted without leniency, Mrs Adelabu advised Lagos motorists and visitors to the Computer Village area to remain vigilant and patronise only LASPA-registered parking operators with valid identification and receipts.

The general public was also urged to report any suspected individuals or groups engaging in illegal parking operating in LASPA.

Continue Reading

Auto

Passengers Lament as Uber, Bolt Drivers Strike in Lagos

Published

on

Uber Technologies System Nigeria Limited

By Dipo Olowookere

Rising operational costs and declining earnings have forced drivers of ride-haling platforms like Uber and Bolt to embark on a three-day warning strike in Lagos.

This situation has not gone down well with their customers in the metropolis, who have expressed frustration over the strike.

“Though I am not happy with the action of the drivers, I feel for them because they operate in a harsh environment,” a customer of Bolt, Mr Seyi Adeniji, said.

When Business Post checked the Uber app on Monday morning to book a ride from Egbeda to Megida Ayobo, both in the Alimosho Local Government Area of Lagos State, it was functional, but with fewer drivers available for pick-up, with prices ranging from N5,200 on Uber X to N7,400.

One of the drivers, who spoke with this newspaper but begged for anonymity, said efforts by them for improved packages have failed.

It was gathered that when nothing concrete came out from talks with operators of the platforms, drivers, under the aegis of the Amalgamated Union of App-Based Transporters of Nigeria (AUATON), Lagos State Chapter, decided to begin a warning strike from March 16 to 18, 2026, to further press home their demands.

They want an immediate review of ride fares to reflect current economic conditions. They also seek a cut in commission charges by ride-hailing companies, and want the introduction of a guaranteed minimum trip fare.

The drivers have asked for insurance coverage, an end to unjust deactivation of driver accounts without proper investigation, and greater transparency in how fares and commissions are calculated.

In addition, they want improved safety protections for drivers through better rider-verification systems, emergency panic buttons, and faster response mechanisms in cases of security threats.

According to a statement from the spokesman of the organisation, Mr Steven Iwindoye, many drivers are struggling to remain financially viable due to increasing fuel prices, vehicle maintenance costs, inflation and other living expenses, while fare structures on ride-hailing platforms have remained largely unchanged.

“Drivers operating on platforms such as Uber, Bolt, inDrive and Lagride continue to face rising operational costs, including the high price of fuel, vehicle maintenance, inflation and daily living expenses.

“Unfortunately, the fare structures and policies of these companies have not been adjusted to reflect these economic realities,” the statement said.

It was stressed that many drivers now work extremely long hours yet still struggle to earn a sustainable income, clarifying that, “This strike is not intended to punish commuters but to demand fair treatment, economic sustainability and safety protections for the drivers who power the ride-hailing industry.”

Continue Reading

Auto

InDrive Fetes Abuja Drivers in Ramadan Shukran Campaign

Published

on

inDrive Ramadan Shukran Campaign

InDrive, a leading global ride-hailing platform operating in nine African countries, is celebrating Ramadan season with a targeted driver appreciation programme in Abuja, tagged’Ramadan Shukran campaign’, with active Muslim drivers on the platform to receive curated food hampers and personalised thank-you cards.

The initiative, designed to strengthen the company’s relationship with its driver community at a time when many are working long hours while observing the fast, is not based on financial incentives or performance-based rewards but on practical support for the month and a direct expression of appreciation for the role drivers play in the platform’s daily operations.

Four Abuja-based Muslim content creators who understand the social and religious considerations of the period have been delivering 200 hampers across key districts in the city. The hampers, which contain everyday Ramadan essentials to support suhoor and iftar, including staple foods and beverages commonly consumed during the fasting period, come in warm-toned Ramadan packaging and include a handwritten-style card from Indrive with the message “Shukran,” which means thank you.

Each creator is assigned a specific coverage area to ensure broad reach and local relevance, with deliveries taking place around prayer times and fasting schedules, which are captured with the participating drivers’ consent.  The campaign, serving as a broader positioning goal to publicly recognise drivers through creator-led storytelling, will further reinforce inDrive’s people-first identity and increase awareness among drivers who are not currently on the platform.

The campaign reflects inDrive’s deliberate shift toward relationship-building through culturally relevant engagement during one of the most significant periods in the Muslim calendar.

Continue Reading

Trending