Day: January 9, 2018

Bitcoin Crash: CBN cautions In virtual currencies trading stands

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In January 2017, the Central Bank of Nigeria (CBN) warned Nigerians and financial institutions to stay away from virtual currencies that have attracted investment in payments infrastructure that provides new methods for transmitting value over the internet. The CBN had reiterated that virtual currencies such as Bitcoin, Ripples, Monero, Litecoin, Degecoin, OneCoin among similar products are not legal lenders in Nigeria, thus any financial institution that transacts in such businesses does so at its own risk. As at the time of writing this report, bitcoin, a world known cryptocurrency, has…

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A court verdict against PDP that may reshape Nigerian politics

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I have often argued that Nigeria’s political arena is designed for the criminally minded. That criminal compulsion is often evident in elections, where candidates deploy ill-gotten cash, recruit heavily armed thugs, and use other forms of illicit manipulation to steal votes. It’s bad enough when rogue politicians cheat in general elections. Curiously, too many politicians bring their fraudulent manoeuvres to primaries, a contest between aspirants from the same party who seek to represent their party in a broader election. One of the scandals of politics in Nigeria is that political…

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Jordan to replace bread subsidy with cash grants

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Jordan has decided to replace the current bread subsidy to Jordanians who are in need of financial support with cash, Minister of Industry and Trade, Yaroub Qudah said on Monday. Qudah in a press conference said that the country would increase the prices of bread by 67 per cent to 100 per cent starting from February 1. The minister said that 35 per cent of the country’s residents were non-Jordanians who consumed subsidised bread, adding that bread in Jordan was much cheaper than in several neighbouring countries. He said that…

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Mueller to interview Trump on Russia

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US President Donald Trump could be interviewed within weeks as part of Special Counsel Robert Mueller’s investigation of Russian interference in the 2016 presidential election, the Washington Post reported on Monday. Mueller raised the issue of interviewing Trump during a meeting in late December with the president’s lawyers, John Dowd and Jay Sekulow, the Post said. The interview, which would deal with a limited portion of questions, could take place within the next several weeks, the Post said, citing a person close to the president. Sekulow and Dowd did not…

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Researchers find cure for gambling addiction

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A cure capable of weaning some young and old Nigerians from gambling   addiction is being tested by researchers in Finland. Finnish researchers on Monday said they were to launch a study to see if gambling addiction can be treated with a fast-working nasal spray. The spray contains naloxone, an emergency treatment for opiate overdoses (heroin, opium, morphine) that blocks the production of dopamine, a neurotransmitter linked to pleasure with a central role in addictions. “The spray goes to the brain in a few minutes so it’s very useful for a…

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