Category: Economy

Bybit’s Hamster Kombat Tokens Pre-Market Listing Excites Crypto Enthusiasts

10Jul

By adminNo Comments

Crypto, Economy

Bybit’s Hamster Kombat Tokens Pre-Market Listing Excites Crypto Enthusiasts

On July 8, Bybit, the second-largest crypto exchange by market share, announced its listing of Hamster Kombat (HMSTR) tokens on its over-the-counter (OTC) platform. With this move, Bybit continues to show its support for emerging crypto projects, especially those linked with Telegram’s Open Network (TON). The pre-market trading feature on Bybit’s OTC platform offers investors a unique opportunity to trade new tokens before their official listing, ensuring they can secure advantageous prices ahead of the broader market. Bybit’s decision to list Hamster Kombat tokens shows its dedication to fostering the growth of innovative crypto ventures. The exchange has a history of supporting projects associated with TON, and the inclusion of HMSTR tokens further solidifies this commitment. Bybit’s...

NLC Awaits Tinubu’s Decision, Insists on ₦250,000 Minimum Wage

11Jun

By adminNo Comments

Cost of Living, Economy, Labour, Nigeria

NLC Awaits Tinubu’s Decision, Insists on ₦250,000 Minimum Wage

Organised Labour in Nigeria has remained obstinate in its demand for a new minimum wage of ₦250,000, dismissing lower offers as inadequate. The Nigeria Labour Congress (NLC) has categorically rejected proposals of ₦62,000 and ₦100,000, labeling them as “starvation wages.” In an interview on Monday during the ongoing International Labour Conference in Geneva, Switzerland, NLC President Joe Ajaero stated that the union is awaiting President Bola Tinubu's response to their proposal. Ajaero emphasized that the proposed figures by the government and employers do not reflect labour's stance. Chris Onyeka, Assistant General Secretary of the NLC, reiterated the union's position during an appearance on Channels Television’s ‘Morning Brief’ program. He firmly stated that the NLC would not acc...

Sule Lamido Criticizes Tinubu’s Presidency: “Doing Everything Wrong”

11Jun

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Economy, Interview, News, Nigeria

Sule Lamido Criticizes Tinubu’s Presidency: “Doing Everything Wrong”

In a recent interview, former Governor of Jigawa State, Sule Lamido, made important observations about President Bola Tinubu's administration, accusing it of numerous failures and attributing Tinubu's rise to the presidency to luck. Lamido expressed these views on Channels Television’s Politics Today program on Monday. During the interview, Lamido contested the widespread belief that Tinubu was responsible for building Lagos. He argued that Lagos was developed with funds from the Nigerian government, not by Tinubu's efforts. Lamido cited significant infrastructure such as ports, airports, and bridges in the southwestern state as evidence. “I know Tinubu very well. I also know him as the Governor of Lagos. I know his capacity. He’s on top of the country. He didn’t build Lagos. Lagos ...

We Are Turning the Bend, the Worst is Over – Tinubu

24May

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Economy, News, Nigeria

We Are Turning the Bend, the Worst is Over – Tinubu

Abuja, Nigeria – In a bold call for action, President Bola Tinubu has emphasized the need for a more effective local government system to drive community development and deliver essential governance within Nigeria's federal structure. Speaking to a delegation of the Yoruba Leaders of Thought at the State House in Abuja on Friday, President Tinubu underscored the transformative nature of governance that addresses the critical needs of citizens. The President, in a statement by Presidential spokesman Ajuri Ngelale, reflected on the achievements and challenges of his administration over the past 12 months. "It has been challenging. It has been fulfilling as well. We took over, and we have stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding. And it will not...

CBN Mandates Reapplication for Bureau de Change Licenses

23May

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Economy, Finance, Nigeria

CBN Mandates Reapplication for Bureau de Change Licenses

Abuja, Nigeria – May 23, 2024: In a move aimed at restructuring the foreign exchange market, the Central Bank of Nigeria (CBN) has directed all Bureau de Change (BDC) operators in the country to reapply for new operational licenses. The CBN's directive requires compliance by June 3, 2024, to continue participating in forex operations. This announcement follows the introduction of revised Regulatory and Supervisory Guidelines for BDC Operations in Nigeria earlier this year. As part of these reforms, the CBN has set new minimum capital requirements: N2 billion for tier 1 BDC operators and N500 million for tier 2 operators. The circular, signed by Haruna Mustafa, Director of the Financial Policy and Regulation Department at CBN, outlines comprehensive reforms intended to enhance the ro...

Renewed Hope Has Turned to Hopelessness – Prof Usman Yusuf

20May

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Cost of Living, Economy, News, Nigeria

Renewed Hope Has Turned to Hopelessness – Prof Usman Yusuf

In a scathing critique of President Bola Tinubu’s administration, Professor Usman Yusuf, a prominent member of the Northern Elders Forum (NEF) and former Executive Secretary of the National Health Insurance Scheme (NHIS), has lambasted the Renewed Hope Agenda, labeling it as a source of increased hopelessness for Nigerians. During an interview on Channels Television’s Sunday Politics, which was monitored by DAILY POST, Yusuf expressed his disappointment, stating that the Tinubu-led federal government has failed to instill any sense of hope among the Nigerian populace over the past year. "People have lost hope. It pains me to see our people lining up to collect cups of palliatives. Renewed Hope has turned into hopelessness. People have lost hope," Yusuf remarked. He further critic...

Tinubu’s Economic Reforms Showing Positive Results – Bagudu

17May

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Economy, News, Nigeria

Tinubu’s Economic Reforms Showing Positive Results – Bagudu

Abuja, May 17, 2024 – President Bola Tinubu’s economic reforms have begun to bear fruit, according to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu. Speaking to newsmen in Abuja on Friday, Bagudu highlighted the renewed faith in Nigeria's economy and the resurgence of foreign investor interest as key indicators of the reforms' success. In a statement issued by his Special Assistant on Media, Bola Adebiyi, Bagudu acknowledged the initial challenges posed by the removal of the petrol subsidy but emphasized the long-term benefits. "Although the removal of petrol subsidy caused some pain, the policy has increased the quantum of funds available to the three tiers of government to invest in critical infrastructure," Bagudu stated. He argued that these investments woul...

Delisting of Naira from P2P Trading Platforms Underway

17May

By adminNo Comments

Economy, Finance, Information Technology, Nigeria

Delisting of Naira from P2P Trading Platforms Underway

In a supposed move to stabilize the Nigerian currency, the Securities and Exchange Commission (SEC) announced yesterday that several cryptocurrency exchanges have begun the process of delisting the Naira from Peer-to-Peer (P2P) trading platforms. This action follows a directive issued last week by the SEC in collaboration with the Office of the National Security Adviser (ONSA). The directive mandates digital currency operators to remove the Naira as a fiat currency option on their platforms. This measure aims to protect the Nigerian currency from potential manipulations that could undermine its value. The SEC's recent checks confirmed that the KuCoin platform has already started implementing this change, adjusting its technology to accommodate the delisting of the Naira. See Also: C...

Reactions as Minimum Wage Negotiations Hit a Snag

16May

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Economy, Employment, Labour, News, Nigeria

Reactions as Minimum Wage Negotiations Hit a Snag

Negotiations between the Nigerian government and organized labor have hit a roadblock, sparking concerns over fair wages and economic stability. The recent walkout by labor representatives before negotiations even began has drawn criticism and calls for reconsideration from various stakeholders. Speaking on behalf of the Organized Private Sector of Nigeria, Mr. Adewale-Smatt Oyerinde, Director-General of NECA, expressed disappointment at the early walkout, emphasizing the importance of all parties presenting their opening positions before negotiations commence. He urged labor leaders to return to the negotiation table in the interest of national development. Dr. Ikenna Nwosu, a facilitator with the Nigerian Economic Summit Group, criticized the government's stance, citing economic i...

Labour Rejects Government’s Minimum Wage Offer

16May

By adminNo Comments

Economy, Employment, Labour, News, Nigeria

Labour Rejects Government’s Minimum Wage Offer

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have walked out of the minimum wage negotiation with the Federal Government. The negotiation, fraught with tension, hit a standstill as the government's offer of N48,000 fell drastically short of the N615,000 demanded by the unions. This rejection marks the second deadlock in as many weeks, signaling the deep-rooted disagreement between labour and the government over what constitutes a fair national minimum wage. The impasse emerged during a session convened on Wednesday, where hopes for a breakthrough were dashed as both parties failed to bridge the considerable gap between their positions. The offer presented by the government, far below the unions' expectations, drew immediate condemnation from labour leaders who descr...