Category: Business

  • Federal High Court Orders Binance to Provide Nigerians’ Information to EFCC

    Federal High Court Orders Binance to Provide Nigerians’ Information to EFCC

    By Milcah Tanimu A Federal High Court in Abuja has issued a directive to Binance Holdings Limited, requiring the company to furnish the Economic and Financial Crimes Commission (EFCC) with information regarding Nigerians trading on its platform. The court’s decision came in response to an ex-parte motion filed by the EFCC, with the suit marked…

  • Binance Executives Detained by Nigeria Identified

    Binance Executives Detained by Nigeria Identified

    By Milcah Tanimmu Recent reports confirm that Tigran Gambaryan, Binance’s head of investigations, and Nadeem Anjarwalla, a British lawyer and manager overseeing Binance’s operations in Africa, have been detained by Nigerian authorities. The two executives traveled to Nigeria in response to the country’s crackdown on several cryptocurrency trading platforms. Upon their arrival, they were detained…

  • Nigeria’s Foreign Trade Surges by 37.2% to N71.88 Trillion in 2023

    Nigeria’s Foreign Trade Surges by 37.2% to N71.88 Trillion in 2023

    By Milcah Tanimu In 2023, Nigeria witnessed a remarkable surge in its total foreign trade, reaching N71.88 trillion, reflecting a substantial increase of 37.2% compared to the N52.38 trillion recorded in 2022. This encouraging growth is outlined in the fourth-quarter foreign trade report released by the National Bureau of Statistics (NBS). The report signals positive…

  • Corrupt Practices Exacerbate Naira Strain, Claims ACCI President

    Corrupt Practices Exacerbate Naira Strain, Claims ACCI President

    By Milcah Tanimu Emeka Obegolu, President of the ACCI, highlighted in an interview in Abuja the detrimental impact of illicit financial transactions on the naira, attributing its undervaluation to corrupt practices. He urged the government to swiftly address corruption within the financial system to alleviate the undue strain on the naira and penalize offenders identified…

  • FG Vows 100% Cargo Scanning at Ports, Eyes N10 Trillion Projection for Sector

    FG Vows 100% Cargo Scanning at Ports, Eyes N10 Trillion Projection for Sector

    By Milcah Tanimu The Federal Government (FG) has announced plans to transition from physical inspection to 100% scanning of cargo at Nigerian ports, aiming to enhance operational efficiency and meet a N10 trillion projection for the sector. This initiative will involve procuring four additional scanners to complement the existing infrastructure, which currently stands at only…

  • CBN’s MPC Nominees assure Nigerians on way out of Forex , food crisis soon

    CBN’s MPC Nominees assure Nigerians on way out of Forex , food crisis soon

    …As Senate puts them under fire From Lateef Taiwo For urgent way out from Naira volatility and food security bedeviling the Nation’s economy now , the Senate Wednesday , subjected nominees for membership of Monetary Policy Committee ( MPC ) , of the Central Bank of Nigeria ( CBN) to thorough drilling . President Bola…

  • US Intensifies Investigation as Senator Kolade Visits Wigwe Family

    US Intensifies Investigation as Senator Kolade Visits Wigwe Family

    By Milcah Tanimu As investigations by the United States National Transportation Safety Board (NTSB) delve deeper into the fatal helicopter crash that claimed the life of Mr. Herbert Wigwe, the Group Chief Executive Officer of Access Holdings, alongside his family members and associates in California, prominent Nigerians continue to offer condolences and support to the…

  • Works Minister Unveils Highways Devt model Strengthening Parameters

    From Lateef Taiwo Nigeria’s Minister of Works, Sen. Nweze David Umahi, has introduced parameters that would boost quality delivery and management of road infrastructure under the Public-Private-Partnership, PPP, arrangement known as Highway Development and Management Initiative, HDMI, and ensure efficient utilisation of the completed projects by road users. Umahi gave the indication during a meeting…

  • Zulum, Bakari Pledge To Strengthen Nigeria/Cameroun Trade Relations.

    Zulum, Bakari Pledge To Strengthen Nigeria/Cameroun Trade Relations.

    ***Commission Int’l Market, lay foundation For Cattle market In Banki Borno State Governor, Prof Babagana Umara Zulum and his counterpart from the far North Region of Cameroon, Midjinyawa Bakari, have commissioned the Banki International market and a teachers’ quarters. The two leaders equally laid the foundation for a new cattle market in Banki town. Governors…

  • Unbearable cost: Table, sachet water producers down tools in Enugu

    From Lateef Taiwo Association of Table, Sachets Water Producers (ATWAP) in Enugu State is to down tools and suspend production in all water producing factories due to unbearable high cost of production. This is contained in a statement issued by the Chairman of ATWAP Enugu State Chapter, Mr Tony Edike and its State Secretary, Sir…