Cryptocurrency is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions. It has become a widely accepted means of payment, with greater capacity and faster settlement than other traditional financial structures. Its use has, however, been prohibited in some countries. An instance is Nigeria, which
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Ngozi Okonjo-Iweala has expressed her gratitude to President Muhammadu Buhari and Nigerians for their unflinching support for her run to become the director-general of the World Trade Organisation (WTO). Okonjo-Iweala had beaten seven other candidates to emerge the most preferred candidate for the much-coveted office, gaining the support of the US government on Friday. Expressing her gratitude to the US,
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(Premium Times Exclusive)Africa’s richest man, Alike Dangote, has told a U.S. court how his former American girlfriend, who exposed a part of his body via a social media post, is trying to extort $5 million from him. PREMIUM TIMES exclusively obtained the documents of a civil suit he filed with a pseudonym against the lady identified as Autumn Spikes at
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The All Progressives Congress (APC) has rejected the position of Financial Times that Nigeria is becoming a failed country under President Muhammadu Buhari. In a statement on Sunday, the party said contrary to the claim, the Buhari administration is “visibly and frontally” addressing Nigeria’s current challenges. In an editorial on Tuesday, Financial Times had said “Nigeria will become a problem
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At least six persons were confirmed dead on Wednesday after a petrol tanker exploded in Jebba, Kwara state. The incident also left several persons injured, while over 30 buildings were razed. According to a statement issued by Rafiu Ajakaye, chief press secretary to the Kwara governor, the driver of the tanker lost control and rammed into residential buildings in the
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The federal government has extended the deadline for the registration of National Identification Number (NIN) by telecommunication service subscribers. The ministry of communications and digital economy broke the news in a statement on Monday. The Nigerian Communications Commission (NCC) had given telecommunications companies a two-week ultimatum to block SIM cards not registered with NIN. But in the statement, the federal
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The Nigerian economy has slipped into its second recession in five years as the gross domestic product contracted for the second consecutive quarter in 2020. The National Bureau of Statistics (NBS) on Saturday disclosed that Nigeria’s GDP growth was negative by 3.62 per cent in the third quarter of 2020. Recall that the country recorded a 6.10 per cent contraction
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Ngozi Okonjo-Iweala, Nigeria’s ex-finance minister and nominee for the office of the director-general of the World Trade Organisation, WTO, has emerged winner of the highly competitive race. The former minister according to TheCable, polled 104 votes from 164 member countries to defeat her South Korea’s trade minister opponent, at the final stage of the race. She has broken many records,
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Videos have emerged online of hoodlums setting a set of BRT buses on fire in Lagos on the morning of Wednesday.The recent wave of destruction may not be unrelated to the killings that took place at the Lekki Toll Gate on Tuesday.
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Nigeria’s Ngozi Okonjo-Iweala has expressed confidence in her quest to lead the crisis-wracked World Trade Organisation after all of Africa backed her candidacy, vowing she would champion reform. She expressed her confidence in the race after she received news that the 55-member African Union would officially support her candidacy over her sole remaining opponent, Yoo Myung-hee of South Korea for
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