Relationship between PayPal, Central Banks and Cryptocurrencies?

By Adedapo Adesanya Crude oil prices went in different directions on Friday amid profit-taking as markets weighed supply concerns from Russia’s fuel export ban against demand woes from future rate hikes. While the Brent futures lost 3 cents to close at $93.27 a barrel, the US West Texas Intermediate crude (WTI) futures rose by 40 cents to sell for $90.03 a barrel. However, both benchmarks closed downwards on a week-on-week basis, with Brent shedding 0.3 per cent, breaking a three-week streak of gains, and WTI sliding by 0.03 per cent for the week, the first decline in four weeks. Russia

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By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed in the green territory after it chalked up by 0.37 per cent on Friday, September 22, as three securities finished on the price gainers’ chart and one stock closed in the price losers’ table. This raised the market capitalisation of the OTC Exchange by N4.24 billion to N1.143 trillion from the previous day’s N1.139 trillion, as the NASD Unlisted Securities Index (NSI) increased during the session by 3.00 points to finish at 808.95 points compared with Thursday’s 805.95 points. At the close of transactions, investors traded a total of 10.7

By Bliss Okperan Nigeria’s internet speed averages 25 megabits per second (Mbps), according to data from Surf Shark, a cybersecurity company focused on developing humanised privacy and security solutions. The ranking, contained in the 5th annual (Digital Quality of Life Index (DQL), showed that the country dropped two places to 7th from 9th within the last two years. A quick average analysis shows that at an average of 25 Mbps, Nigeria is far from the world’s fastest fixed internet Singapore, which is 300 Mbps and is ahead compared to the slowest fixed internet in the world, Yemen, which is 11

By Adedapo Adesanya The Debt Management Office (DMO) has revealed Nigeria’s total debt stock is now N72.7 trillion after the addition of the securitised Ways and Means of Advances of the Central Bank of Nigeria (CBN). As of March 2023, the debt office said the country’s total public debt stock was N49.95 trillion ($108.30 billion), higher than the N46.25 trillion ($103 billion) on December 31, 2022, by N3 trillion. According to a statement obtained from the DMO official website, the total debt stock comprises the external and domestic debts of the federal government, the 36 states and the Federal Capital

By Dipo Olowookere Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said NCC was poised to facilitate the laying of 120,000 kilometres optic fibre infrastructure by 2023. He noted that when this is done there will be an exponential increase in the contribution of telecom to GDP which presently stands at 9.5 percent. Mr Danbatta stated that data usage has quadrupled from 20 terabytes in 2015 to 85 terabytes which indicates that NCC has facilitated the expansion of the frontiers of access to ICT. He also noted that the leadership and support of the Minister

By Dipo Olowookere On Tuesday, United Capital Plc released its financial statements for the year ended December 31, 2019, declaring a post-tax profit of N5.0 billion compared with the N4.3 billion announced in the same period of 2018. In the results checked by Business Post, the firm also posted a pre-tax profit of N5.0 billion in contrast to the N6.2 billion recorded in the corresponding period of 2018. In the fiscal year under review, United Capital enjoyed a tax credit of N23.7 million compared with the N1.9 billion tax it paid to the government in the 2018 full year. A

My dear citizens,   I am very grateful to God and to all Nigerians for their prayers. I am pleased to be back on home soil among my brothers and sisters.   In the course of my stay in the United Kingdom, I have been kept in daily touch with events at home. Nigerians are robust and lively in discussing their affairs, but I was distressed to notice that some of the comments, especially in the social media have crossed our national red lines by daring to question our collective existence as a nation. This is a step too far.

By Modupe Gbadeyanka As part of its contribution to the fight against COVID-19, Konnect, a subsidiary of Eutelsat Communications, has offered to provide broadband internet connection to all the isolation centres in Sokoto State. With this, patients at the health facilities will have the opportunity to keep tab with happenings from across the globe with high-speed internet. According to the firm, each isolation centre in the northern Nigerian state will benefit from free broadband connectivity made possible with the collaboration of Coollink, a foremost ISP in Nigeria. Konnect, in partnership with Coollink, has been operating in Nigeria since 2017, with

By Dipo Olowookere Leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange (NSE) and the London Stock Exchange (LSE), Seplat Petroleum Development Company (Seplat) Plc, has announced the successful pricing of its $350 million senior notes due for 2023 offered at 9.25 percent. The firm, in a statement issued yesterday, explained that the “notes will be issued by the company and guaranteed by certa in of its subsidiaries. In the statement signed by its Chief Financial Officer (CFO), Mr Roger Brown, the gross proceeds of the notes would be “used to repay and cancel existing

By Sodeinde Temidayo David Facebook has launched a new virtual reality app that allows remote workers to exist as avatars and collaborate in the same virtual space. Last week, the social media giant carried out a beta test of its Horizon Workrooms app on the Oculus Quest 2 VR headset. The Chief Executive (CEO) of Facebook Incorporated, Mr Mark Zuckerberg, revealed that the beta test of Facebook’s Horizon Workroom app comes as many companies continue to work from home after the COVID-19 pandemic shut down physical workspaces and as a new variant is sweeping across the globe. “We shouldn’t really

By Tolu Oyekan As of this writing, the spread of COVID-19 in many African countries has been more contained, and the death toll lower, than some had expected in 2020. The economic fallout of the pandemic for Africans, however, will be different and could be direr than for the rest of the world. Sub-Saharan Africa accounts for more than half of the world’s populations living at or below the poverty line. A recent World Bank scenario estimates that COVID-19 could push up to 40 million people in Sub-Saharan Africa into extreme poverty, seriously eroding the progress that African countries have