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BUSINESS NEWS
Business and Economic News from Nigeria
Bitcoin traded at $36,262.41 with a daily trading volume of $56.4 billion, down 0.49% for the day.
The IMF says close to 80% of the world’s central banks are not allowed to issue a digital currency under their existing laws.
The Bank crashed its interest rate to one of the lowest in Nigeria’s lending space.
A steering committee has been inaugurated by the FG to implement the Export Expansion Facility, focusing on non-oil exports.
Premiere League side, Southampton FC has revealed a UK£76.1m loss in Covid-hit 2019/20 financial results.
Nigeria continues to face issues of poor revenue generation and a lack of will to efficiently manage its expenditure.
Minister of Finance revealed there are plans to convert loans from the CBN into tradeable securities.
Such gains pushed Bitcoin's market value to $697 Billion, or 68.98% of the total Crypto market value.
At press time, the Brewery stock was trading at N1.12, printing a gain of 9.80% and with a market valuation of about N8 billion.
The FG is set to fully launch the Nigerian Railway Corporation (NRC) e-ticketing platform next week.
Fossil fuel is expected to dominate Africa’s energy mix by the end of the decade.
Since the beginning of 2020, pension fund managers have moved out about N1.112 trillion of treasury bills investments into mostly FGN Bonds.