Archbishop Professor SamZuga has promised to grant all Nigerians 18 years and above financial freedom to the tune of N1million each. The archbishop, who is the first worlds professor of digital economy, via a message posted on his social media platforms hinted on the reasons behind his benevolence. Sam Zuga also known as Jehovahs Field Marshall maintained that the poorest person in Nigeria will worth 1 Million, while all social vices like kidnapping, banditry etc caused by poverty shall be reduced drastically when he is done with the empowerment program.…
Read MoreTag: Bitcoin
Over $200bn wiped off crypto-currency market in a day as bitcoin plunges below $50,000
Bitcoin and other digital coins plunged yesterday, wiping over $200 billion of the value of the cryptocurrency market. This development came as a proposed capital gains tax hike from U.S. President Joe Biden led to a wave of selling. At around 10 a.m. London time yesterday, bitcoin was down over 8%, at $48,687, according to Coin Metrics data. It’s the first time bitcoin has traded below $50,000 since early March. This wiped out more than $200 billion of value from the entire cryptocurrency market, according to data from CoinMarketCap. It…
Read MoreCBN declares Bitcoin, other crypto-currencies illegal
…Threatens severe sanction for breaches The Central Bank of Nigeria, (CBN), has directed Deposit-money banks, (DMBs) and other financial institutions to immediately close down any accounts dealing in crypto-currencies or facilitating payment for crypto-currency exchange with immediate effect. The apex bank, in a circular issued yesterday, cautioned the DMBs non-bank financial institutions (NBFIs), other financial institutions (OFIs) and members of the public on the risk associated with transactions in crypto-currency. The circular, which was signed by the Director of Banking Supervision, Bello Hassan, and the Director of Payments System Management…
Read More