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CBEX Resumes Operations Despite SEC Ban

Crypto Bridge Exchange trading platform, CBEX
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

Youth Group, OYC Threatens To Picket Multichoice Over Hikes In Prices Of DStv, GOtv Packages

DStv and GOtv
The Oodua Youth Coalition (OYC) has threatened to picket the office of pay TV company, Multichoice Nigeria on Victoria Island in Lagos. The group described the move as its responseRead More

Russia-Ukraine War: Europe Mounts Pressure On Nigeria For More Gas Supply

European Union
Takes advocacy to NNPC after visit to Sylva The European Union (EU) yesterday continued to mount pressure on Nigeria to ramp up its gas supply to Europe, with a visitRead More

Stakeholders: Despite Challenges, MSMEs Contribute Over 60% To Employment

Micro, Small and Medium Enterprises (MSMEs)
The German Corporation has said micro, small and medium sized enterprises (MSMEs) contribute 60 per cent of employment in Nigeria. In a research and survey in partnership with the CentralRead More

FG Owed N5.2trn, Says Ahmed, Orders FGOEs, MDAs To Update Debtors’ List On Monthly Basis

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday revealed that the federal government was being owed approximately N5.2 trillion. She therefore directed all Federal Government OwnedRead More

FG Admits Security Personnel In N’Delta Conniving With Criminals To Steal Oil

Minister of State for Petroleum Resources, Chief Timipre Sylva
Says Elumelu wasn’t speaking for the oil industry about 95% losses Ramps of monitoring of agents deployed in fight against menace The federal government yesterday admitted that some security personnelRead More

FG Slashes Import Duty On Car To 20%

Nigerian Customs Service
The federal government yesterday disclosed that it had reduced import duty on cars from 35 percent to 20 percent. This was disclosed by the spokesman of Nigeria Customs Service (NCS),Read More

CBN’s Crackdown On Cryptocurrency Trading Results In N1.314bn Fines For Six Banks In 2021

Central Bank of Nigeria (CBN)
It emerged yesterday that six banks were fined N1.315 billion by the Central Bank of Nigeria (CBN) in the 2021 financial year, for failing to comply with regulations prohibiting theirRead More

Emirates Increases Frequencies To Abuja, Lagos

United Arab Emirates mega carrier, Emirates Airlines
Emirates Airlines has announced that following the demand of its customers, it would add more flights to its existing daily service to Abuja and Lagos. The airline said it wouldRead More

Lawyers Seek Clarification On Sale, Transfer Of Union Bank To Titan Trust, Threaten Legal Action

Union Bank Plc
A group of lawyers have vowed to challenge the recent acquisition of 89.39 % stake in Union Bank Plc by Titan Trust Bank Limited, before a federal high court. UnionRead More

Minister: FG to Address Challenges Facing Cotton Industry

Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo
The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo has expressed the determination of the federal government to address challenges facing the cotton industry with a view to creatingRead More