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Buhari Govt Withdrew $25 Billion From CBN – SERAP

March 7, 2021 The News Cable 0

The Buhari administration has borrowed $25billion from the Central Bank of Nigeria via overdrafts and loans since 2015 and a group is now asking the government to give an account. Socio-Economic Rights and Accountability Project […]

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Nigerian Banks To Pay N5 ‘Subsidy’ For Every $1 Received From Abroad – CBN

March 7, 2021 The News Cable 0

The Central Bank of Nigeria has ordered International Money Transfer Operatives (IMTO) to pay a N5 fee for every $1 on diaspora remittances.  The document released on Friday, noted this directive was made “in an […]

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Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment

February 8, 2021 The News Cable 0

Tesla announced Monday it has bought $1.5 billion worth of bitcoin. The company said it bought the bitcoin for “more flexibility to further diversify and maximise returns on our cash.” Tesla also said it will start […]

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$500m Worth Of Bitcoin Traded In Nigeria In Last Five Years – Kingsley Moghalu

February 8, 2021 The News Cable 0

Former presidential candidate, Kingsley Moghalu, has said that $500 million worth of Bitcoin has been traded in Nigeria within the last five years. Moghalu, who was once the Head of Directorate of the Central Bank […]

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‘It’s Fueling Terrorism’ – CBN Speaks On Why It Banned Cryptocurrency

February 8, 2021 The News Cable 0

The Central Bank of Nigeria (CBN) has justified their ban on cryptocurrencies, saying it fuels illicit financial flow and aids terrorism. In a statement, Osita Nwanisobi, Acting Director, Corporate Communications, CBN, said the ban on […]

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