Economy
PLC Ultima Revolutionizes Crypto Mining with Mobile App
It’s a far cry from the days when almost anyone could participate in crypto mining just using his computer. Nowadays, crypto mining is something not affordable to the majority as it needs either expensive computing machines or deep technical knowledge or both of them. This situation leads to higher risks of centralization of mining in the hands of those who can afford it. PLC Ultima, a blockchain-based ecosystem for e-commerce services, rethinks crypto mining and makes it possible to create new coins using mobile apps.
Mining Vs Minting
Opposed to centralized systems, all decentralized ones bear on the community of their supporters who actively participate in the life of the system, i.e. running nodes that check transactions or launching mining farms which write blocks of transactions in the blockchain. In return, active participants are rewarded with a certain number of digital coins for their work. Mining is essential in maintaining decentralized systems alive. Decentralized systems keep its level of decentralization while its users benefit financially from their roles.
In theory, everyone could try crypto mining. But those times when anyone with a decent home computer could easily earn new coins have long gone. Starting investments in mining exceeded several thousand dollars. If talking about bitcoin, one cannot even dream of mining if having less than $10,000 in his pocket. Furthermore, all this mining on computing machines or using GPU is extremely energy consuming and makes crypto mining an unfriendly process to the environment.
The crypto industry entered a post-Bitcoin era when new decentralized systems have to find new ways of creating coins and stimulate users to play an active role in the network. PLC Ultima proposes its innovative solution to this challenge called minting.
Minting is a more energy-effective way to produce new coins via computing power. Instead of buying expensive and energy-consuming GPU or ASICs, minting is available via apps on smartphones. This approach gives millions of persons an access to a profitable participation in decentralized systems.
Mobile Minting
Users who want to be active participants of the PLC Ultima ecosystem just need to register new accounts and download special apps (Ultima Farm and Ultima Wallet) on their smartphones. The PLC Ultima operates two native coins called PLCU and PLCUX. PLCU serves as a tool when sending transactions, while PLCUX is focused on generating new coins. PLCU is also based on a deflationary model. That means, fees paid in PLCU for transactions are burnt. By withdrawing coins forever from circulation, the ecosystem reduces market supply of burnt coins and increases shortage and raises demand for PLCU on the secondary market.
To start minting, users are required to freeze a certain number of PLCUX for a certain period. In order to buy PLCUX, users have to buy PLCU first as PLCUX is traded on exchanges only for PLCU. And PLCU is traded on dozens of exchanges, including Gate.io.
Users are rewarded on a monthly basis for storing and freezing coins in their wallets. The amount of the reward corresponds to the number of frozen coins in the wallet.
PLC Ultima, Ecosystem for Future Fintech
The PLC Ultima is a blockchain-based ecosystem focused on a wide range of fintech services, from an everyday payment system to a crowdfunding platform and marketplace, all of them already used by 1.5 million of users around the globe. The project was run by Alex Reinhardt, a venture investor, economist, entrepreneur who launched dozens of startups and fintech platforms. Its mission is to give people around the world access to the financial instruments of the ecosystem and improve their quality of life by lowering barriers to financial services.
Its blockchain is an updated version of Litecoin blockchain strengthened by the CryptoNight hashing algorithm used by Bitcoin and Monero. The PLC Ultima blockchain is fast, with one block signed every 1.5 minutes.
The PLC Ultima ecosystem hosts dozens of actively used fintech services. Its most popular ones are a blockchain-empowered crowdfunding platform called Platin Hero with smart contracts, a global e-commerce marketplace called PlatinDeal with cryptocurrency payment method available, and PLC Card, a banking-analog card for everyday payment in digital assets with exceptionally high daily limits (up to €150,000).
By Adedapo Adesanya
The federal government has imposed an immediate nationwide ban on the export of wood and allied products, revoking all previously issued licenses and permits to exporters.
The announcement was made on Wednesday by the Minister of Environment, Mr Balarabe Lawal, during the 18th meeting of the National Council on Environment in Katsina State.
Mr Lawal said the directive, outlined in the Presidential Executive Order titled Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, became necessary to curb illegal logging and deforestation across the country.
“Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the effects of climate change,” the Minister said, warning that the continued exportation of wood threatens these benefits and the long-term health of the environment.
The order, published in the Extraordinary Federal Republic of Nigeria Official Gazette No. 180, Vol. 112 of 16 October 2025, relies on Sections 17(2) and 20 of the 1999 Constitution (as amended), which empower the state to protect the environment, forests, and wildlife and prevent the exploitation of natural resources for private gain.
Under the new policy, security agencies and relevant ministries are expected to enforce a total clampdown on illegal logging activities nationwide.
On his part, the Katsina State Deputy Governor, Mr Faruk Lawal Jobe highlighted the state’s history of pioneering socio-economic policies that have influenced national policy. He emphasized the importance of collaboration in addressing environmental challenges across the country.
“Environmental sustainability is critical to achieving growth and improving the quality of life of our people,” he said. “Our administration has prioritised initiatives aimed at combating desertification and promoting afforestation.”
The ban reflects the government’s commitment to safeguarding Nigeria’s shrinking forest cover and addressing climate change, while ensuring sustainable use of natural resources for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.24 per cent on Wednesday, December 17, pulling the Unlisted Security Index (NSI) up by 8.62 points to 3,614.64 points from 3,606.02 points.
In the same vein, the market capitalisation added N4.72 billion to close at N2.164 billion compared with the N2.160 trillion it ended on Tuesday.
The growth was inspired by four securities, which finished on the gainers’ log, neutralising the losses printed by two other securities on the trading platform.
MRS Oil Plc gained N17.90 on Wednesday to end at N196.90 per unit versus N179.00 per unit, NASD Plc appreciated by 59 Kobo to N58.50 per share from N57.91 per share, FrieslandCampina Wamco Nigeria Plc added 15 Kobo to sell at N60.19 per unit versus N60.04 per unit, and Industrial and General Insurance (IGI) Plc rose by 6 Kobo to 64 Kobo per share from 58 Kobo per share.
On the flip side, Golden Capital Plc extended its loss by 76 Kobo to end at N7.75 per unit versus N8.51 per unit, and Central Securities Clearing System (CSCS) Plc slipped by 35 Kobo to N39.65 per share from N40.00 per share.
Yesterday, the volume of transactions increased by 737.3 per cent to 20.4 million units from 2.4 million units, but the value of trades fell by 33.8 per cent to N72.2 million from N109.1 million, and the number of deals slid by 62.5 per cent to 21 deals from 56 deals.
Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value on a year-to-date basis with 5.8 billion units sold for N16.4 billion, the second position was occupied by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and the third place was taken by MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units traded for N16.4 billion, followed by IGI Plc with 1.2 billion units valued at N420.7 million, and Impresit Bakolori Plc with 536.9 million units worth N524.9 million.
By Dipo Olowookere
A 0.26 per cent growth was achieved by the Nigerian Exchange (NGX) Limited on Wednesday on the back of sustained bargain-hunting by investors.
This happened despite a pocket of profit-taking, with industrial goods losing 0.63 per cent and the energy index shedding 0.05 per cent.
But the insurance space increased by 2.02 per cent, the banking counter appreciated by 1.48 per cent, the commodity sector improved by 0.48 per cent, and the consumer goods segment rose by 0.03 per cent.
Consequently, the All-Share Index (ASI) went up by 383.71 points to 149,842.82 points from 149,459.11 points and the market capitalisation jumped by N244 billion to N95.525 trillion from N95.281 trillion.
The market breadth index remained positive after the bourse finished with 38 price gainers and 23 price losers, indicating a strong investor sentiment.
The quartet of First Holdco, Lasaco Assurance, Veritas Kapital, and Prestige Assurance gained 10.00 per cent to quote at N39.60, N2.75, N1.76, and N1.65, respectively, while Mecure Industries grew by 9.92 per cent to N50.40.
Conversely, Living Trust Mortgage Bank lost 10.00 per cent to close at N3.15, International Energy Insurance dropped 9.92 per cent to trade at N2.27, McNichols shrank by 6.90 per cent to N2.97, Omatek decreased by 6.84 per cent to N1.09, and Chams dipped by 6.41 per cent to N2.92.
The activity level witnessed a significant surge at midweek, with Ecobank trading 5.3 billion units for N168.7 billion.
Further, First Holdco sold 108.2 million units worth N4.2 billion, Sterling Holdings exchanged 87.3 million units valued at N606.2 million, FCMB transacted 74.3 million units worth N783.6 million, and Access Holdings sold 41.5 million units for N841.4 million.
At the close of trades, market participants traded 5.9 billion units valued at N216.2 billion in 25,205 deals compared with the 1.0 billion units worth N21.8 billion traded in 23,701 deals a day earlier, showing a rise in the trading volume, value, and number of deals by 490.00 per cent, 891.74 per cent, and 6.35 per cent, respectively.
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