Tinubu seeks to tax FX gains by banks in proposed amendment to finance act
President Tinubu has asked the Senate to amend the 2023 Finance Act to impose a one-time windfall tax on the foreign exchange gains realized by banks in their 2023 financial statements. The post Tinubu...
View ArticleBitwise’s Matt Hougan says Ethereum exchange-traded funds will push its price...
Matt Hougan has stated that the much-anticipated spot Ethereum Exchange Traded Funds (ETFs) expected to launch next week will push the price of the crypto asset beyond The post Bitwise’s Matt Hougan...
View ArticleCrypto token listings on major exchanges surge by 11.6% in H1 2024—Report
The listing of crypto tokens surged by 11.6% in the first six months of 2024, reaching a total of 2,066 on major exchanges The post Crypto token listings on major exchanges surge by 11.6% in H1...
View ArticleCrypto exchange, OKX, to discontinue service in Nigeria
Cryptocurrency exchange, OKX, has announced plans to discontinue its service in Nigeria effective from August 16, 2024. The post Crypto exchange, OKX, to discontinue service in Nigeria appeared first...
View ArticleFG to tax banks 50% of realised profits on FX gains in new 2024 budget
The federal government plans to tax bank 50% of profit realised from foreign exchange revaluation in 2023. The post FG to tax banks 50% of realised profits on FX gains in new 2024 budget appeared first...
View ArticleCourt says Oando minority shareholders cannot be forced to sell their shares
The Federal High Court, Lagos Division, has held that it cannot force Oando Plc minority shareholders to sell their shares if they do not want to sell. The post Court says Oando minority shareholders...
View ArticleAnalysis: FCMB Pensions reports 28% revenue growth in 2023 amid rising...
FCMB Pensions 2023 corporate and pension fund audited accounts, providing a summary overview of its financial health and fund performance. The post Analysis: FCMB Pensions reports 28% revenue growth in...
View ArticleExchange rate for customs duties collection rises above official market rate...
The exchange rate for duties collection by the Nigeria Customs Service (NCS) has risen by N3 above the official closing rate of the Naira on the NAFEM window. The post Exchange rate for customs...
View ArticleExchange rate crosses N1,600/$1 at parallel market, hits N1,630/$1 on online...
Parallel market operators are quoting a buy price above N1,600/$1 for holders of naira looking to buy dollars, as the local currency faces rising pressure. The post Exchange rate crosses N1,600/$1 at...
View ArticleCBN to sell $20,000 to each BDC at N1,450/$1
The Central Bank of Nigeria (CBN) has announced the approval of the sales of FX to eligible Bureau De Change (BDCs) to meet the demand for invisible transactions. The post CBN to sell $20,000 to each...
View ArticleBank stocks fall in early trading as investors digest 50% windfall tax
Early trading data in the Nigerian Exchange has shown a pattern of decline across bank stocks, as investors react to the proposed 50% tax on FX gains. The post Bank stocks fall in early trading as...
View ArticleBitcoin hits $46.4 billion On-Chain transaction volume surpassing Mastercard...
Bitcoin, the primary crypto asset has surpassed Mastercard and Visa in terms of daily transaction volume with a staggering $46.4 billion in unfiltered on-chain transactions. The post Bitcoin hits...
View ArticleUnited Capital posts 63% profit growth in 2024 half-year, to distribute N5.4...
United Capital Plc recorded a pre-tax profit of N9.06 billion in the first half of 2024, marking a 63% year-on-year growth from the N5.54 billion posted in the corresponding period in 2023. The post...
View ArticleWhat is Pixelverse and how can you earn tokens from it
Pixelverse is another crypto gaming project hosted on Telegram and belongs to the same play-to-earn category of crypto projects like Tapswap, Hamster Kombat, Notcoin, and Blum. The post What is...
View ArticleHackers steal $235 million from top Indian exchange WazirX, native token...
Crypto hackers made away with $235 million worth of crypto assets from WazirX, India’s leading cryptocurrency exchange following a breach in the exchange’s wallet security. The post Hackers steal $235...
View ArticleAnalysis: Is Jaiz Bank a Buy, a Hold, or a Sell?
Jaiz Bank Plc, Nigeria's pioneering Non-Interest Bank operating under Islamic banking principles, has seen substantial growth in its share price since its listing on February 9, 2017. The post...
View ArticleAirtel’s N376 billion gain offsets bank stock losses, as NGX hits 3-month high
Airtel Africa Plc posted a 4.76% gain, representing a N376 billion equity gain to boost the NGX to a 0.47% gain today. The post Airtel’s N376 billion gain offsets bank stock losses, as NGX hits...
View ArticleFX spot market drops by 41.17% to $6.72 billion turnover in June – FMDQ report
Spot FX market turnover was $6.72 billion (N10.01 trillion) in June 2024, representing a 41.17% ($4.70 billion) a Month-on-month (MoM) decrease from the turnover recorded in May 2024 ($11.42 billion)...
View ArticleShareholders condemn FG’s 50% windfall tax on banks’ forex gains
The New Dimension Shareholders Association of Nigeria has strongly criticized the Federal Government's decision to impose a 50% windfall tax on banks due to their foreign exchange gains. The post...
View ArticlePixelverse partners with Notcoin as PIXFI lists on major exchanges on July 18
Pixelverse a fast-growing Web 3 Play-to-earn project hosted on Telegram has collaborated with Notcoin, a popular play-to-earn project and one of the pioneers of the Play-to-earn category. The post...
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