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In a bold move aimed at curbing dollar speculation and combatting exchange rate manipulation, the Federal Government of Nigeria plans to delist the Naira from all peer-to-peer cryptocurrency platforms. This development comes amidst the government’s ongoing efforts to regulate Nigeria’s estimated $57 billion cryptocurrency market. During a recent meeting with representatives from Nigeria’s blockchain industry,…
In a significant move aimed at bolstering healthcare infrastructure across states, the Federal Government has approved the disbursement of N25 billion through the Basic Health Care Provision Fund (BHCPF). Prof. Muhammed Pate, the Coordinating Minister of Health and Social Welfare, made this announcement during the sixth meeting of the BHCPF Ministerial Oversight Committee held in…
The Nigerian Minister of Works, David Umahi, has called for an urgent meeting with major cement manufacturers, including Dangote Plc, BUA Plc, and Lafarge, to address the escalating cost of cement. The meeting, scheduled for Monday at the Federal Ministry of Works in Mabushi, Abuja, aims to examine the issues contributing to the surge in…
In a decisive move, the National Agency for Food and Drug Administration and Control (NAFDAC) has officially banned the production of alcoholic beverages in sachets less than 200ml. The enforcement of this prohibition commenced on February 1, 2024, following the expiration of the five-year window granted to manufacturers to cease the production of such drinks…
The Federal Competition and Consumer Protection Commission (FCCPC) is poised to enact a new wave of regulations within Nigeria’s digital lending space, targeting the surging defaults plaguing the sector. In a recent appearance on a TVC live program, Mr. Babatunde Irukera, the CEO of the Commission, unveiled plans for forthcoming regulations slated for 2024. These…
In response to prevailing economic conditions, the Federal Government has revised its 2024 budget proposal, increasing it from the initial N26 trillion to N27.5 trillion. The adjustments were announced by the Minister of Budget and Economic Planning, Atiku Bagudu, following the Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential…
Google has been ordered by the Federal Competition and Customer Protection Commission (FCCPC) to remove Easynaira, Swiftcach, and 16 other digital money lenders from the Playstore due to their alleged non-compliance with regulations. The (FCCPC) has directed Google to remove the applications of specific Digital Money Lending (DML) companies from the Google Playstore. These apps…