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Economy

Latest Rate Hike by CBN Will Hurt Investments—CPPE

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CPPE Muda Yusuf Customs Duty Exchange Rate

By Adedapo Adesanya

An advocacy group for the private sector in Nigeria, the Centre for the Promotion of Private Enterprise (CPPE), has criticised the decision by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to raise the lending rate, otherwise known as the Monetary Policy Rate (MPR), saying this action will further hurt investments in the country.

At the end of its 297th MPC meeting in Abuja on Tuesday, the committee further increased the MPR by 50 basis points to 27.25 per cent from 26.75 per cent, shocking those expecting a pause after recent progress with inflation slowing consequently.

Reacting to the development through its chief executive, Mr Muda Yusuf, CPPE noted that tightening the monetary policy at a time when manufacturers, entrepreneurs, and other investors in the economy are struggling and need succour was not the right decision.

According to him, this is at variance with the mood of most economic players at this time.

“What manufacturers and other investors need at this time is some oxygen and stimulus, not policy measures that would worsen an already suffocating situation.

“The MPR at 27.25 per cent; CRR at 50 per cent, and asymmetric corridor at +500 and -100 are very difficult monetary conditions to bear for most businesses. “This is given the prevailing macroeconomic and structural conditions,” he said.

Mr Yusuf said that the second quarter gross domestic production (GDP) numbers showed clearly that the economy was still in a floundering mode, adding that many critical sectors of the economy slowed during the quarter.

He listed the sectors to include manufacturing and its other sub-sectors such as cement, food and beverage, chemicals and pharmaceuticals, trade, ICT and real estate.

The economic expert said that the road transport, motor assembly, publishing and motion pictures sectors contracted during the quarter while aviation, oil refining, textile, livestock and quarry and minerals sectors were still in recession.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Economy

How Colocation Provider Services Enhance the Crypto Mining Process

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colocation Bitcoin

When it comes to scaling up Bitcoin operations, every miner hits a wall sooner or later. Whether it’s rising energy bills, cooling issues, or limited rack space, home setups just don’t cut it at scale. That’s where colocation Bitcoin solutions step in, offering industrial-grade infrastructure without the headache of building a data center from scratch. For many crypto miners, this has become a game-changer.

Cryptocurrency Mining Explained

At its core, cryptocurrency mining is the process of validating transactions and adding them to the blockchain ledger. Miners compete to solve complex mathematical puzzles using powerful hardware, like ASICs (Application-Specific Integrated Circuits). Once a solution is found, it’s broadcast across the network, and the miner gets rewarded in crypto.

But this isn’t something you can pull off with a basic laptop. Running a profitable mining operation demands serious horsepower and reliable uptime, especially when you’re dealing with blockchain technology and its nonstop, decentralized nature.

How Colocation Facilities are Used in Crypto Mining

Colocation facilities are specialized data centers where miners can house their mining rigs. Instead of hosting hardware in a garage or warehouse, miners rent space in these facilities that already offer high-end cooling, power redundancy, and lightning-fast connectivity. This is ideal for running blockchain workload management tasks that require stable environments.

More importantly, colocation sites are often located in regions with access to cheaper electricity, significantly lowering the energy consumption in mining, a major factor for profitability. And for those managing Bitcoin nodes, colocation facilities provide the uptime and security needed to ensure uninterrupted participation in the network.

Colocation Benefits for Miners – Why are They Becoming Popular?

The list of colocation benefits for miners keeps growing. One of the biggest is reduced overhead. There’s no need to worry about cooling systems, fire suppression, or backup generators — the colocation provider services take care of it all. This lets miners focus purely on maximizing hash rates and ROI.

Then there’s mining hardware management. These facilities often have on-site technicians who can perform reboots, monitor temps, or even swap out malfunctioning units. This kind of hands-on support is critical when running dozens (or hundreds) of rigs.

We also can’t overlook data center security. Physical and cyber security in colocation centers is top-notch, from biometric access controls to round-the-clock surveillance. For anyone holding significant mining assets, that peace of mind is worth its weight in Bitcoin.

In the fast-moving world of crypto, infrastructure can make or break your mining game. Colocation isn’t just for enterprise giants anymore — it’s becoming the go-to solution for solo miners and small firms looking to scale without blowing their budget. With better uptime, lower costs, expert support, and hardened security, colocation facilities are proving essential in today’s mining landscape.

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Economy

NIPOST, KLM Royal Dutch Airlines Seal Logistics Deal

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NIPOST

By Adedapo Adesanya

The Nigerian Postal Service (NIPOST) and the KLM Royal Dutch Airlines have signed a direct international mail partnership to boost delivery and ease bottlenecks around Nigerian logistics.

The Postmaster General of NIPOST, Mrs Tola Odeyemi, confirmed this agreement between both parties, describing its as a milestone in many years.

According to Mrs Odeyemi, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers, resulting in delays, higher costs, and uncertainty around the delivery of packages.

“With this new partnership, KLM will now handle our outbound international mail directly, with no middlemen involved,” she wrote in the announcement on X, formerly, known as Twitter, noting that the deal will bring faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network.

KLM Royal Dutch Airlines is the national carrier of the Netherlands and offers services – passenger and cargoes – to 164 destinations worldwide and boasts about 116 aircrafts as of 2025.

“This breakthrough is possible because we have begun clearing longstanding debts owed to international carriers. We are actively working to rebuild global trust, and this partnership is only the first of many doors that will reopen,” she added.

She also noted that NIPOST is currently in strategic discussions with Ethiopian Airlines to serve African and Eastern routes, further strengthening the country’s regional and continental logistics framework.

“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” she noted.

The NIPOST chief also noted that the development serves as a major win for Nigerian businesses especially Small and Medium Enterprises (SMEs).

According to her, some of the benefits cover those who export goods, or sell products online, as it introduces quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.

“I remain grateful to the incredible teams working diligently behind the scenes, and to every Nigerian who continues to believe in our mission. We are not just delivering mail, we are delivering solutions and moving Nigeria forward,” she added.

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Economy

NGX Prevents Investors from Trading Golden Guinea Breweries Shares

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golden guinea breweries resume

By Dipo Olowookere

For now, investors will no longer be able buy or sell shares and securities of Golden Guinea Breweries Plc on the floor of the Nigerian Exchange (NGX) Limited.

This is because the stock exchange has suspended the beer maker due to its failure to file its financial statements for the 2024 fiscal year despite.

Companies listed on the local bourse are required as stipulated in the listing rules to submit their financial results within a certain period and when this is breached, the necessary sanctions are meted out on them.

As for Golden Guinea Breweries, it violated Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which necessitated the NGX to wield its big stick on the firm.

Trading in the equities of Golden Guinea Breweries was suspended last Tuesday via a notice to the investing community.

Investors will only be able to trade the company’s stocks and other securities when the financial statements are released for the perusal of the investing public.

“Trading license holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that, If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.

“Trading in the shares of Golden Guinea Breweries Plc has been suspended from the facilities of Nigerian Exchange Limited effective Tuesday, May 6, 2025, for not filing its Unaudited Financial Statements for the period ended December 31, 2024.

“In accordance with the default filing rules set forth above, the suspension of trading in the shares of the company shall be lifted upon the submission of the relevant financial statements,” the notice read.

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