Business
CBEX Resumes Operations Despite SEC Ban
Despite the purported N1.2 trillion digital trading scam that allegedly impacted over 600,000 Nigerians, the troubled Crypto Bridge Exchange trading platform, CBEX, has reopened and announced new withdrawal alternatives in an effort to regain investor confidence. Despite continuing regulatory agency investigations, Punch reports that two traders on the CBEX platform have confirmed that the digital trading company has discreetly resumed operations, enabling new customers to register, trade, and withdraw winnings. The sources claim that in order to determine the amount lost in the scheme, which failed in April, an external audit of the company’s financial records and an insurance verificationRead More
TCN Explains Nationwide Load Shedding, Blames Gencos For Worsening Power Supply
The Transmission Company of Nigeria (TCN) yesterday attempted to explain the worsening nationwide power supply, stating that the Generation Companies (Gencos) were not generating enough electricity to be transmitted byRead More
NCDMB: Afreximbank Invested Over $42bn In African Enterprises In Five Years
Africa must address funding, technology, other limitations to achieve energy security, says Sylva The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) hadRead More
NEITI: Companies Owed FG N1.32trn In 2020, Oil Revenue Dipped By 40%
$394bn remitted to government in 10 years, 4% of Nigeria’s gas production unaccounted for The Nigeria Extractives Industries Transparency Initiative (NEITI) yesterday revealed that oil companies’ liabilities to the federationRead More
