Naira Depreciates Against Euro, Sterling at Black Market

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

Welcome to the fascinating world of cryptocurrency wallets, where technology is always developing and innovating. Blockchain technology and cryptocurrencies have revolutionized how we see and utilize money over the last ten years. Cryptocurrency wallets have been crucial in this transition, giving consumers the means to safely access, control, and use their digital assets. Let’s explore the exciting developments and trends that are predicted to completely alter the landscape of crypto wallets as we look to the future. Key Takeaways The environment of cryptocurrency wallets is changing quickly as a result of new trends and technologies. Future crypto wallets will prioritize

By Nneka Okumazie Well, no, the problem with the success of Christianity in Nigeria. Churches everywhere are not supposed to be, in a country that isn’t doing so great – in summary of the anxiety of haters of Christianity in Nigeria. Critical thinking and questioning everything is often the excuse for this hate, but they’re often confused, delusional and unable to identify where to look. Nigeria has problems that are not true Churches everywhere. The smartest Nigerians are not throwing themselves to solve the problems of Nigeria in diverse ways. Rather – for some – their talent and resourcefulness are

By Adedapo Adesanya Nigerian financial technology startups, Moni Africa and TouchandPay, have made the six finalists chosen to jostle for the top price of $50,000 and admission to the Ecobank Fintech Challenge Fellowship programme. Following extremely strong competition from over 700 fintechs from 59 countries, the two Nigerian startups will be at the grand finale on October 28 at the Ecobank Group Pan African Centre in Lomé, Togo. The companies are part of the finalists from the Democratic Republic of Congo, Nigeria, Senegal, South Africa and Togo. The others are Cauri Money from Senegal, DizzitUp from Togo, MaishaPay from the

By Dipo Olowookere President Muhammadu Buhari has hinted that his administration will investigate the $16 billion spent on power projects in the country by Mr Olusegun Obasanjo when he was President of the country from 1999 to 2007. Mr Buhari dropped this hint on Tuesday when Comptroller-General of the Nigerian Customs Service (NCS), Mr Ahmed Ali, led the Buhari Support Organization (BSO) to the Presidential Villa in Abuja. Mr Obasanjo has been very critical of President Buhari’s government lately. Not too long ago, he went to the Afenifere, a pan-Yoruba group, seeking its support to oust the President from office

By Modupe Gbadeyanka Ogun State Governor, Mr Ibikunle Amosun, has enjoined Muslim faithful to demonstrate the virtue of selfless sacrifice as they celebrate the Eid-el-Kabir festival. In a statement issued in Abeokuta, the Governor said, “while I join my Muslim brothers and sisters to celebrate this holy day, I urge you to reflect on the essence of the festival. “Otherwise known as the ‘Festival of Sacrifice’, the Eil-el-Kabir presents an opportunity for us to reflect on the faith, with which Ibrahim (Abraham) willingly agreed to sacrifice his son and was set to let go of his personal belief, just in

By Investors Hub The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks likely to regain some ground following the weakness seen in the previous session. The markets may benefit from bargain hunting following the pullback on Tuesday, which saw the Dow slump by nearly 300 points. Notable strength seen in the overseas markets on the day may also generate some early buying interest on Wall Street. Trade concerns may continue to weigh on the markets, however, as traders worry about an escalating trade dispute between the U.S. and China. After showing a significant move

By Adedapo Adesanya Chinese factory data, rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus saw crude futures pointing north on Monday, August 10. The international benchmark, Brent crude, rose 61 cents or 1.33 per cent to $45.01 per barrel. On the other hand, the United States West Texas Intermediate (WTI) crude gained 83 cents or 2.01 per cent to trade at $42.05 per barrel. The gain on Monday was driven by a couple of factors, China’s factory deflation eased in July, driven by a rise in global oil prices and as

By Adedapo Adesanya The federal government is alerting the general public on the outbreak of anthrax in some neighbouring countries within the West African sub-region, specifically, Northern Ghana bordering Burkina Faso and Togo. In a statement released on Monday, the Federal Ministry of Agriculture and Rural Development revealed that the disease, which has claimed some lives, is a bacterial disease (zoonotic disease) that affects both animals and humans. It warned that anthrax spores are naturally found in the soil and commonly affect domestic and wild animals. “People can get infected with Anthrax spores if they come in contact with infected

By Adedapo Adesanya Oil slid on Monday as economic data in the United States had investors bracing for more interest rate hikes from the US Federal Reserve to fight inflation, which could slow economic growth and oil demand. Brent futures fell by 71 cents or 0.9 per cent to settle at $82.45 a barrel, while the US West Texas Intermediate (WTI) crude fell by 64 cents or 0.8 per cent to settle at $75.68 per barrel. New orders for key US-manufactured capital goods increased more than expected in January while shipments rebounded, suggesting that business spending on equipment picked up