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A report by an open-source blockchain website, Elastos on Thursday revealed that 20 per cent constituting at least one in five Nigerians are using Bitcoin to carry out transactions everyday. According to the platform, the research was compiled from online interviews conducted with 1,407 self-defined ‘tech savvy’ respondents in Brazil, Germany, Nigeria, South Korea, UAE, UK, and US. The interviews were completed by a third party, registered market research company and completed between 30 March and 04 April ’24. The report further revealed that 67 percent of Nigerians would have more trust in Bitcoin to protect their life savings than…
Multiple fatalities are feared following a devastating tanker explosion along the East-West Road in Port Harcourt, Rivers State. The incident occurred around 9:45 pm Friday night. involving a tanker carrying petroleum products which ignited, engulfing nearby vehicles. The explosion, near the Indorama Petrochemical Company, has raised concerns due to its proximity to critical national infrastructure. Witnesses describe hearing loud blasts followed by flames and thick smoke billowing from the scene.
The Nigerian Correctional Service (NCoS) FCT Command has confirmed the escape of 119 inmates from the Suleja Custodial Centre in Niger State. Samson Duza, the Public Relations Officer (PRO) of the command, issued a statement in Abuja on Thursday detailing the incident. Following a rainstorm that battered the facility on Wednesday night, numerous inmates took advantage of the damaged sections to flee. The FCT command, responsible for Kuje and Suleja Medium Security Custodial Centres, said it immediately activated recapture protocols in collaboration with other security agencies. The rainstorm not only inflicted damage on the custodial centre but also wreaked havoc…
On Wednesday, the naira experienced a depreciation to N1,300 per dollar in the parallel section of the foreign exchange (FX) market, marking a 3.17 percent decline from the N1,260 recorded on April 22. Currency traders, operating as bureau de change (BDC) operators, set the buying rate at N1,260 and the selling price at N1,300, maintaining a profit margin of N40. Meanwhile, at the official window, the naira dropped to N1,308.52 against the dollar, reflecting a 0.64 percent decrease from the N1,300.15 traded on April 23. According to data from the FMDQ Exchange, the naira reached a low of N1,367 and…
In response to a recent runway incident involving Dana Air, the Nigerian Civil Aviation Authority (NCAA) has suspended the airline's Air Operators Certificate (AOC). The incident occurred as a Dana Air plane, arriving from Abuja, veered off the runway at Lagos airport and into a nearby field. Fortunately, all 83 passengers and crew members disembarked safely, prompting emergency responders and regulatory agencies to swiftly initiate an investigation into the cause of the incident. Pending the outcome of the investigation led by the Nigerian Safety and Investigation Bureau, the NCAA has announced a thorough audit of Dana Air's operations. Acting Director…
In a significant move against illicit foreign exchange (FX) trading, the Economic and Financial Crimes Commission (EFCC) has taken action by freezing over 300 accounts. Ola Olukoyede, EFCC’s chairman, disclosed this development during a statement in Abuja on Tuesday, underscoring the agency's efforts to combat financial crimes. Olukoyede emphasized the critical role of a court order in securing the freeze, highlighting the potential consequences if the accounts were not seized. Moreover, he shed light on the alarming scale of illicit transactions, noting that over $15 billion had passed through unregulated platforms in the past year alone. This revelation underscores the…
A Dana Air flight bearing registration number 5N BKI, carrying 83 passengers, experienced a runway incursion upon landing at the domestic wing of the Murtala Muhammed International Airport, Lagos, runway 18L. No passengers were injured during the incident. In a statement released by the airline, Dana Air expressed regret over the runway incursion involving flight 5N BKI, which was en route from Abuja to Lagos on April 23, 2024. The statement said that the crew handled the situation with utmost professionalism, ensuring the safety of all passengers and crew members. Furthermore, Dana Air informed that the Nigerian Safety and Investigation…
Former President Goodluck Jonathan emphasized the importance of establishing state police to tackle insecurity during a national security dialogue in Abuja. He stressed the need for a framework preventing abuse of state police powers and highlighted their success in stabilizing security in Bayelsa during the late 90s. Jonathan underscored concerns about ensuring state police autonomy while preventing misuse by governors. He urged careful consideration of the relationship between state and national security structures. Furthermore, he called for equipping state police adequately to combat criminals effectively. Vice-President Kashim Shettima pledged federal government support for dialogue outcomes, while former head of state…
The Minister of Education, Tahir Mamman, has announced that candidates under the age of 18 will no longer be admitted to tertiary institutions. This directive, given during a monitoring exercise of the 2024 Unified Tertiary Matriculation Examination (UTME) in Bwari, Federal Capital Territory, aims to align with the 6-3-3-4 education system. Mamman expressed concern over parents pressuring underage students into university admission, emphasizing the need for children to mature before entering higher education. He highlighted the challenges faced by young students adjusting to university life and urged parents to refrain from undue pressure. The minister stressed the importance of allowing…
Over 11.5 million electricity households and customers in Nigeria, who account for about 85 per cent of grid connected electricity, have been thrown into darkness as the electricity supply industry moves to implement at least 20-hour power supply to some customers. With electricity generation wobbling around 3,000 megawatts, there are indications that the Generation Companies (GenCos) may insist on a bilateral bulk trading agreement with the Distribution Companies (DisCos) to prioritise band A customers outside of the Nigerian Bulk Electricity Trading Company (NBET). Already, most band A customers, who are expected to get at least 20 hours of power supply…
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Super tanker carrying 2m barrels of crude stranded on Nigerian waters due to payment issues…

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Winning funding proposals written by generative AI: Should that matter to you?

Generative AI is getting better every day. We now have ChatGPT4, Claude 3, Gemini, Perplexity,…
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Nigeria’s Super Falcons qualify for 2024 Olympics at South Africa’s expense

Super Falcons of Nigeria have qualified for the women’s football event of the 2024 Olympics…

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