Having recorded significant progress on Monday, the cryptocurrency market is stabilising, with major gladiators consolidating on their successes over the weekend. Analysts believe that the market is poised to grow bigger in 2023, due to the growing popularity of digital currency and its likely adoption as legal tender in various countries. It is however believed that despite the projected growth in the industry, a few big names might still struggle, due to a decline in key economic indicators causing scalability issues and security challenges. However, Bitcoin and Big Eyes Coin were among the currencies that showed real prospects after the…
Author: Oladi Samuel
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Kaduna State Governor, Nasir El-Rufai, has claimed that some individuals within the Presidency, who are aligned with a candidate that lost an election primary, are now working against the APC. Disclosing this during an interview with Channels TV on Wednesday morning, the governor cited the failure to remove the fuel subsidy as an outcome of the impasse within the party. He noted that the Governors and Presidency earlier agreed to remove the subsidy in 2021. However, the Presidency did a U-turn on the agreement. Clashing views: Speaking further, the Governor said that he has stopped trying to understand how the Federal…
Still Earth Limited, a leading Engineering and Construction company in Nigeria, has been awarded a contract by the Ogun State Government to construct multiple housing units at the President Mohammed Buhari Estate, Kobape, Abeokuta, Ogun state. The contract which was awarded through the Ogun State Property and Investment Corporation (OPIC), proposes to develop 100 housing units of varying house types including four-bedroom semi-detached duplexes and four-bedroom fully – detached duplexes. Ogun State which has a population of 3,751,140 based on the 2006 national Census is currently faced with a housing deficit affecting more than 2,000,000 people. To amend the situation and ensure the well-being of residents, the state…
Neo bank, Kuda, has allayed the fears of its customers who have been unable to access their money since Tuesday due to glitches on the app. According to the company, the customers’ money is safe and they would be able to access it once the app issue is resolved. The bank’s customers have become apprehensive since they are unable to log in to the Kuda app, let alone withdraw or transfer. In some cases, customers are able to log in but their accounts show zero balance, even though they had money in the accounts. Kuda’s apology: The digital bank in…
The Nigeria Data Protection Bureau (NDPB) said that it has identified a wide gap in the country’s data protection needs. According to the Bureau, Nigeria needs over 500,000 data processors and controllers but currently has about 10,000. The National Commissioner of the NDPB, Dr Vincent Olatunji, who disclosed during a capacity-building workshop for data protection officers in the public sector, said the 490,000 jobs gaps have to be filled urgently. Bridging the gap: To that end, he said the Bureau has designed a plan to train 250,000 data protection officers on enhanced management of data across organizations to safeguard the…
The exchange rate between the naira and the US dollar traded for an average of N745/$1 on Wednesday, 1st February 2023, representing a 0.80% appreciation when compared to N751/$1 recorded in the previous trading session. This is according to information from black market FX traders who spoke to Nairametrics. Similarly, the exchange rate at the cryptocurrency P2P exchange appreciated on Wednesday, 1st February 2023 to a minimum of N745.5/$1, from N752/$1 recorded on Tuesday’s trading session. Meanwhile, the exchange rate at the investors and exporters (I&E) window closed at N461.5/$1 on Tuesday, 31st January 2023, the same rate as recorded…
The National Operations Controller at the Independent Marketers Association of Nigeria (IPMAN), Mike Osatuyi, has assured that Nigerians will likely see more fuel availability in the next two weeks. Mr Osatuyi stated this during an interview on Arise TV’s Morning Show on Wednesday, February 1, as monitored by Nairametrics. IPMAN’s assurance followed the crucial meeting held on January 31 with the Nigerian National Petroleum Company (NNPC) Limited and all other stakeholders across the downstream petroleum value chain. As Osatuyi pointed out, the meeting was successful and all stakeholders will work together to ensure the crisis comes to an end. Nobody is…
Lagos Secondary School Art Competition 2023, themed “Paint Your Aspired Lagos”National Undergraduate Art Competition 2023, themed “Paint Your Aspired Nation” Fobally Art World Africa Foundation is set to Launch its 2023 Art Competitions for Lagos Secondary Schools and National Art Undergraduates. The Lagos State Secondary School Art Competition 2023 is tagged Art Discovery 2023, while the National Undergraduate Competition is tagged Invigoration Series II. “Paint your Aspired Lagos” (PYAL) & “Paint your Aspired Nation” (PYAN) are the theme of the upcoming competition for Lagos State Secondary School Art Competition and National Undergraduate Art Competition 2023 respectively. PYAL & PYAN are…
Nigeria’s leading financial institution, Coronation Merchant Bank has announced the launch of its 2023 Economic Review and Outlook report which focuses on trends for core macroeconomic indicators and relevant emerging policy themes that will shape 2023. This report themed Baton Hand-Off: Economic Headwinds and Expected Resilience covers global economic headwinds and growth trends, inflationary pressures and expectations, dynamics in the domestic oil market, exchange-rate expectations, thoughts around monetary and fiscal policies and sectorial trends, among others. The report also takes a deep dive into potential implications of the imminent change in administration. Commenting on this report, Banjo Adegbohungbe, MD/CEO of…
In its January Energy Outlook, British Petroleum (BP) highlighted the four trends it believes will determine the future of global energy. The trends, as seen by Nairametrics, include the following- the declining role of hydrocarbons, the rapid expansion of renewables, increasing electrification, and the growing use of low-carbon hydrogen. According to the outlook, the Russia-Ukraine war will also have long-lasting effects on the global energy system and spark weaker economic growth. This will manifest in many ways including increased energy security concerns which will trigger a shift towards a more local, lower-carbon energy mix, as well as energy security concerns that can…