Bitcoin Fee Tumbles 30 Per cent

On Friday, The fee of bitcoin tumbled 30 per cent two with the rout accelerating early in the New York morning, after a week marked by means of high-profile safety troubles at two exchanges and warnings from world regulators about the dangers cryptocurrencies pose. Bitcoin plummeted as low as $10,775.92, in accordance to Bloomberg, leaving it greater than 45 per cent down from a record excessive touched at the begin of the week. Its crash caps a unstable week for the controversial cryptocurrency Read more [...]

Trader Makes Million Dollar Bet That Bitcoin Will Triple Next Year

Online data from New York-based digital currency-trading platform LedgerX confirmed 275 call picks expiring Dec. 28, 2018, have been offered in Wednesday’s buying and selling session at a volume-weighted common price of $3,600. At that price, roughly $1 million was once spent on the bet. The alternate offers the investor or buyers the alternative to buy bitcoin at $50,000 in the roughly next 12 months, implying expectations that the digital forex will bounce past that price. An investor would Read more [...]

CBN Repays $1.1 Billion worth Of T-bills

Central financial institution of Nigeria (CBN) repaid a whole of 340 billion naira ($1.1 billion) really worth of treasury bills on Thursday as an alternative of rolling them over, in a pass to lower authorities borrowing costs, traders said. They included 131.4 billion naira really worth of treasury payments issued through the Debt Management Office (DMO), while the balance used to be in open market payments issued with the aid of the central bank. The DMO has stated it will repay treasury Read more [...]

Naira Depreciates To 365 Per Dollar No Matter CBN Interventions

Mr. Aminu Gwadabe, who is the President, Association of Bureaux De Change Operators of Nigeria, stated the improvement used to be phase of foreign trade market fluctuations. The interbank window of the nation’s foreign exchange market had final Tuesday obtained a boost of $210m from the CBN. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, had stated the financial institution offered the sum of $100m to the wholesale segment, whilst the SMEs and invisibles segments Read more [...]

Dollar Drop In Asia As Fed Fails To Inspire

On Thursday The dollar suffered fresh losses as Asian investors followed their New York counterparts in moving out of the unit, unmoved with the aid of some other interest charge hike and an upbeat evaluation of the world’s pinnacle economy. The fall in the greenback used to be mirrored in a broad sell-off in regional equities as merchants omitted another report finish for the Dow on Wall Street. The dollar was hit by way of selling after the much-anticipated central bank meeting, which supplied Read more [...]

Auditor-General Exhibits Source Of $43m Ikoyi Cash

NNPC presently runs six JVs — with Shell Petroleum Development Company of Nigeria Limited (SPDC), Chevron Nigeria Limited (CNL), Mobil Producing Nigeria Unlimited (MPNU), Nigerian Agip Oil Company Limited (NAOC), Elf Petroleum Nigeria Limited (EPNL) and Texaco Overseas Petroleum Company of Nigeria Unlimited (TOPCON). Also, there was once no reliable documentation for the legit release of $289,202,382 to the the National Intelligence Agency (NIA) — which claimed the $43 million discovered Read more [...]
  The Central Bank of Nigeria (CBN) ended overseas alternate (forex) market transactions for the week with $303.9 million, as it previously in the week, offered $210 million to preserve liquidity. This is the 2d week in succession that the apex financial institution passed a $500 million intervention in the past five weeks, jogging on the heels of a disclosure through the CBN Governor, Godwin Emefiele, that the u . s . a . is now sitting atop $38.2 billion reserves’ profile. Consequently, Read more [...]

Addax Plans $5 Billion Funding In Nigeria

In a assertion on Sunday, Addax Petroleum Develop affirmed its dedication to Nigeria, announcing its future in Nigeria remained very bright. In the statement, Addax Petroleum/NNPC Production Sharing Contract has produced over 425 million barrels of crude oil over the 19 years when it took over operator ship of Oil prospecting Licences 98/118 and OPLs 90/225, previously operated by way of Ashland Nigeria Oil Company from 1973 to 1998. Addax Petroleum Development (Nigeria) Limited has stated Read more [...]

Nigerian Banks Exchange FX At 314.50 Naira On Interbank Market

Nigeria’s overseas change market noticed transactions well worth $1.34 million at its interbank window on Wednesday at a price of 314.50 Naira per dollar, as commercial banks traded the nearby currency at below the central bank rate. Nigeria has at least 5 rates, which it has used to manipulate stress on the Naira and to manipulate what the central financial institution described as “frivolous” demand for greenbacks at the height of a forex crisis that started two years ago. In, April Read more [...]

In One Week FX Window Records $1.11 Billion Transactions

The level of activities on the Investors and Exporters (I&E) foreign exchange (FX) window strengthened to $1.110 billion in just one week, compared with the $759.2 billion recorded the preceding week. the indicative exchange rate for the I & E window, known as the Nigerian Autonomous Foreign Exchange (NAFEX), which gained on the first two trading days, to N359.91/$1 and N359.83/$1, closed the week at N360.41 to the dollar. This represented an appreciation by 16 kobo, compared with the Read more [...]