Traders who look for future price direction in chart patterns are finding more indicators suggesting the world’s largest digital currency may have further to fall. Bitcoin’s 50-day moving average has dropped to the closest proximity to its 200-day moving average in nine months. Crossing below that level — something it hasn’t done since 2015 — […]
By Foster Obi The Nigerian Communications Commission (NCC) has said that the number of active mobile phone lines in the country rose to 146 million in January 2018, recording an increase of 2,233,467 lines from the 144,631 reached in December 2017 From NCC’s monthly Subscribers Operator Data posted on its website, the number of fixed […]
The Lagos State Government on Thursday bowed to pressure by slashing all levies as regards its new Land Use Charge (LUC) that had attracted open voices of dissent in the state. The reduction came two days after the Ikeja branch of the Nigeria Bar Association in Lagos marched against the new law, with its chairman, Mr […]
Nigeria’s Guaranty Trust Bank and a subsidiary of Royal Dutch Shell have granted a $270 million loan to independent Nigerian oil and gas producer Amni International, Amni told Reuters on Thursday. The terms of loan will give Shell Western Supply and trading sole access to the 16,000 barrels per day (bpd) of oil the company […]
Data from the Nigerian Bureau Statistics says the total capital imported into the country in 2017 increased from 5.1 billion dollars to 12.2 billion dollars. “When we consider the full year data, total capital imported into Nigeria stood at US$12.2bn in 2017 compared with US$5.1bn recorded in 2016,” business site- Proshareng.com wrote. In its recent […]
By Foster Obi Nigeria Joint Health Sector Unions (JOHESU) has alerted that the health system will be paralyzed if the government does not meet the demands of health workers in 30 days. According to JOHESU’s national vice president, Ogbonna Chimela, this will be a mega strike and if it starts the states and local governments […]
Oil giants Royal Dutch Shell and Eni have voluntarily filed to the United States authorities internal probes into how they acquired a giant field in Nigeria as the companies seek to fight corruption allegations in Europe and Africa. The filings, to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), do […]
The International Monetary Fund (IMF) has recommended a 100 per cent increase in excise duty rates imposed on all alcoholic beverages and cigarettes in Nigeria to conform to global standard. The recommendation, contained in its 2018 Mission Report on Nigeria, is higher than the rates approved by President Muhammadu Buhari. The new rates announced on […]
Nigeria’s anti-trafficking agency, NAPTIP, has welcomed an order by a leading traditional ruler revoking a voodoo ritual, saying it should sharply reduce the number of people being trafficked to Europe and improve the chances of prosecuting traffickers. That followed a ceremony on Friday in which Oba Ewuare II, the leader of the historic kingdom of […]
Nigeria’s President Muhammadu Buhari has approved an increase in excise duties on tobacco and alcoholic beverages, the finance ministry said in a statement on Sunday. The West African country, which has Africa’s biggest economy, fell into recession in 2016 largely due to low oil prices. It emerged from recession last year, mainly as a result […]