According to data from the World Bank, Nigeria will spend 96.3 percent of its tax revenue on debt service in 2022. This indicates that the nation uses 96 of every 100 naira of its revenue to pay off its debt. This was mentioned by the international financial institution in its Macro Poverty Outlook for Nigeria: […]
Cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) have caused a shortage of physical cash in the country, prompting citizens to look for alternative solutions. As most banks and ATMs are unable to dispense new notes, Nigerians have turned to Bitcoin, which has gained popularity as a solid store of value and […]
The most populous nation on the African continent, Nigeria, has finally officially revealed that it intends to publish a legislative framework that would regulate stablecoins and initial coin offerings (ICOs), a recent report from the country’s central bank shows. Given that stablecoins have a good chance of becoming a successful payment method in the nation, the report asserts that […]
The proposed partnership aims to build a crypto-friendly digital city similar to the virtual free zone in Dubai. The Nigerian government has held a preliminary meeting with crypto exchange Binance to potentially establish a special economic zone aimed at supporting crypto and blockchain-related businesses. According to a Friday post from the Nigeria Export Processing Zones Authority (NEPZA), […]
For the third consecutive year, Nigeria dropped in the 2021 Corruption Perceptions Index (CPI) ranking released on Tuesday by Transparency International (TI). The country scored 24 out of 100 points in the 2021 index, in a report presented to journalists by Civil Society Legislative Advocacy Centre (CISLAC) in Abuja. The report said Nigeria currently ranks […]
Nigerians on Twitter have begun a ‘Goodbye Nigeria’ trend to comment on the rate at which youths are leaving the country. As part of the trend, Nigerians who have departed the country shared their pictures at the airport or in a foreign country, with the caption ‘Goodbye Nigeria’. Other associated words in line with the […]
The Chinese Ambassador to Nigeria, Cui Jianchin, has said he is holding talks with Chinese banks to set up operations in Nigeria to boost Nigeria’s economy and expand trade relations between the two nations. Mr. Jianchin disclosed this on Tuesday in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and […]
The Federal Executive Council (FEC) has approved the controversial Fifth Generation Networks Policy otherwise known as 5G for the nation. The Minister of Communications and Digital Economy, Dr. Isa Patami, who disclosed this Wednesday while speaking with newsmen at the end of the weekly FEC meeting presided over by President Muhammadu Buhari, also revealed that […]
The Federal Government has expressed its readiness to partner with the Magnus Aircraft Manufacturing Industry in Hungary to establish an assembling plant and later start aircraft manufacturing in Nigeria. The Minister of Aviation, Hadi Sirika, expressed the government’s intention during an inspection visit to the aircraft industry in Pogany, Hungary, according to a statement on […]
THE Nigerian High Commission in London, United Kingdom (UK), has been shut after officials tested positive for COVID-19. According to the letter from the High Commission, the closure will last 10 days, beginning from Thursday, when the strains of the deadly disease were detected in the diplomats. The embassy did not name the concerned officials […]
Ubong Abasi
