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Bitcoin slumps under $25,000, lowest in 18 months

Bitcoin tumbled Monday to an 18-month low under $25,000 as investors shunned risky assets in the face of a vicious global markets selloff, months after the cryptocurrency hit a record high. The unit took a heavy knock also from news that cryptocurrency lending platform Celsius Network paused withdrawals, citing volatile…

Traffic resumes on Lagos-Ibadan Expressway

Like Tuesday, a heavy traffic has resumed on the Lagos-Ibadan Expressway, Wednesday morning. The traffic which is heavier than Tuesday’s, records a a standstill on the Ibadan enroute Lagos way. Particularly, while Power down to Mowe-Ibafo route was free, the two lanes (Lagos to Ibadan and vice versa) of the…

Cash-strapped banks borrow N338.4bn from CBN in one month

Cash-strapped banks borrowed N338.5bn from the Central Bank of Nigeria in January to bridge their funding gap, according to the banking data. Figures from the CBN’s monthly report for January on ‘Standing facilities window operation’ showed that the banks continued to utilise the Standing Lending Facility and Deposit Lending Facility…

22 ships discharge petrol, others at Lagos ports

                NPA in its daily Shipping Position said that the ships were discharging bulk wheat, general cargo, container, frozen fish, ethanol, automobile gasoline, base oil, butane gas, bulk urea and petrol. The authority said that 26 other ships were expected to arrive the…

Tony Elumelu and other oil magnates in Nigeria cry out, as huge volumes of crude oil are stolen from major pipelineTony Elumelu and other oil magnates in Nigeria cry out, as huge volumes of crude oil are stolen from major pipeline

Unknown criminals in Nigeria have been stealing huge volumes of crude oil pumped through the Trans Niger Pipeline, a major pipeline crisscrossing through the creeks of the country’s Niger Delta region. Business Insider Africa understands that only 5% of all the crude oil that were pumped through the pipeline between…

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