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Panic in the crypto market as Bitcoin posts worst monthly drop in more than a decade

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Local Stories

INEC officially extends Continuous Voter Registration pending further directives

The Independent National Electoral Commission, INEC, has announced it will continue the Continuous Voter Registration and directed all Electoral Commissioners to continue the exercise pending further directives. Read more

ASUU strike: NLC to embark on a one-day nationwide protest

The Nigeria Labour Congress (NLC), announced a one-day nationwide protest over the Federal Government’s inconclusive negotiations with the Academic Staff Union of Universities (ASUU) which has led to the extension of the union’s strike action. Read more…

Gov Sanwo-Olu approves bailout for companies operating buses in Lagos

Lagos State has approved a proposal for a bailout for the bus operating companies within the state. The state also approved the increase of N100 for fares of Bus Rapid Transit (BRT) buses for all routes. Read more…

FG, UK sign agreement to deport dangerous criminals back to Nigeria

The British and Nigerian governments have announced a new migration agreement which will increase the deportation of dangerous foreign criminals to Nigeria. Read more…

Atiku battles to avert PDP’s collapse, Wike’s loyalists threaten defection

The crisis rocking the Peoples Democratic Party ahead of the 2023 general election has worsened with the loyalists of the Rivers State Governor Nyesom Wike threatening to leave the party if their principal (Wike) defects. Read more…

International Stories

US stocks see the worst first-half drop in more than 50 years

US stocks have seen their worst first half of a year since 1970, as concerns grow over how steps to curb inflation will affect economic growth. Read more…

More than 300,000 killed in decade of the Syrian conflict, UN says

More than 300,000 civilians were killed in one decade in Syria, the "highest estimate yet of conflict-related deaths" in a civil war that started in 2011, according to the United Nations. Read more…

Indonesia passes contentious law to create more provinces in Papua

Indonesia's parliament passed legislation on Thursday to create three new provinces in its underdeveloped region of Papua, a move critics fear could undermine the standing of the area's indigenous population and threaten special autonomy powers. Read more…

Russian forces have withdrawn from Snake Island. But both sides give different accounts

Russian troops have left Snake Island in the Black Sea, the Ukrainian Armed Forces said Thursday after they carried out what they said was a "successful" operation. Read more…

Business Matters

Panic in the crypto market as Bitcoin posts worst monthly drop in more than a decade

As the crypto market battles to find its footing, Bitcoin, which recently saw its biggest-ever monthly fall, whipsawed traders with erratic swings on Friday. Read more…

Crude oil prices record an 11% drop in June on fears of recession

Energy prices might still be going strong, but due to concerns about the recession, several long positions in the market suffered double-digit losses in June. This put an end to the spectacular month-over-month rises in oil prices, at least temporarily. Read more…

FG to generate N23 billion in 30 years from concession of Onitsha port

The Federal Government has signed a deal for the concession of the Onitsha port with the Universal Elysium Consortium, stating that the concession will generate over N23 billion in 30 years. Read more…

Bullish Nigerian Exchange gains N5.64 trillion in HY’2022

Equity trading on the floor of the Nigerian Exchange Limited (NGX) recorded a gain of N5.639 trillion during the half-year ended June 30, 2022, as investors continue to increase their buying pressure, especially on blue-chip stocks. Read more…

Naira falls further at the official market as forex turnover declines

The exchange rate between the naira and the US dollar closed at N425.05/$1 at the Investors and Exporters (I&E) window, representing the lowest level recorded year-to-date. Read more…

Nigeria pays $300m debt amid worsening revenue

Nigeria has redeemed a $300m diaspora bond, which matured on June 27, 2022, according to the Debt Management Office. Read more…

Tech Updates

FG signs agreement with Huawei, and CISCO to establish 300 academies in Nigeria

The Federal of Nigeria says it has signed an agreement with tech giants, Huawei and CISCO to establish a minimum of 300 academies in Nigeria and to train a minimum of 30,000 citizens in advanced ICT. This is even as the country pushes its digital economy through partnerships with various global tech companies. Read more…

Metro

Lagos hotelier laments as EFCC’s raids ground business

The Chief Executive Officer, Lakers Lounge Hotel and Bar, Ikorodu, Lagos State, Oladimeji Ogunfolaju, has lamented the loss of his business after several raids by security agencies, especially men of the Economic and Financial Crimes Commission. Read more…

Quote of the Day

“Your destiny is to fulfil those things upon which you focus most intently. So choose to keep your focus on that which is truly magnificent, beautiful, uplifting and joyful. Your life is always moving toward something.”
—Ralph Marston