Author: News Room

The Monetary Policy Committee is due to begin its two-day meeting on the economy on Monday (today) amid the economic crisis fuelled by the naira redesign policy and fuel scarcity. Analysts in the country have said the Central Bank of Nigeria and the MPC may not raise the lending rates at the end of the Monetary Policy Committee. Although the CBN Governor and Chairman of the MPC, Godwin Emefiele, has said it is unhealthy for the economy to have an inflation rate that… Read the full article here

The Federal Government has reappointed the Chief Medical Director of University College Hospital, Ibadan, Oyo State, Jesse Otegbayo, for another term of four years. The PUNCH reports that the President, Major General Muhammadu Buhari (retd.), approved the appointment of Otegbayo as the CMD in January 2019. The Minister of Health, Osagie Ehanire, announced this on Monday in Ibadan, the state capital. Ehanire had also handed over his letter of reappointment to him at… Read the full article here

A week after the twinning collapse of Silicon Valley Bank (SVB) and Signature Bank, and the trouble at Credit Suisse, the dust is slowly settling down. SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court. The company is no longer affiliated with Silicon Valley Bank, which operates under the jurisdiction of the Federal Deposit Insurance Corporation (FDIC) and is not included in the Chapter 11 filing…. Read the full article here

More than a week after New York regulators closed the crypto-friendly Signature Bank, Coinbase has reportedly stopped support for the institution’s Signet payment platform.According to a March 20 report from The Wall Street Journal, Coinbase users won’t be able to use Signet to send funds outside of banking hours until further notice. The crypto exchange was reportedly looking for another payment network provider and waiting on the outcome of the situation with Signature. The… Read the full article here

A central bank digital currency can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC may be felt particularly acute in the Islamic banking system.The Islamic financial system accounts for less than 2% of global finance, but it is present in 34 countries and systemically important in 15 jurisdictions. Only two countries, Iran and Sudan, have fully Islamic banking systems. Ten countries with an Islamic financial…

Super Eagles goalkeepers trainer, Ike Shorunmu, has hit back at the Nigerian Football Federation, saying they lied to Nigerians over his absence from the team’s camp for the 2023 Africa Cup of Nations double-header qualifiers against Guinea-Bissau on Friday, The PUNCH reports. Shorunmu had told The PUNCH on Monday that he and assistant coach Finidi George were told by the NFF not to join the squad for the 2023 AFCON qualifiers against Guinea-Bissau at the request… Read the full article here

Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables.Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted.The collaboration involves a stablecoin-only wallet built by Stables, coming with a payment card supported by Mastercard. The payment card enables users to save and spend the USD Coin (USDC) stablecoin by converting the digital currency into fiat and settling on Mastercard’s network. The card will be accessible through the Stables digital application via mobile wallets.Source: StablesAccording to Mastercard…

Singer and guitarist, Olugbemiro Tokunbo, aka GT Da Guitarman, has urged fellow entertainers to always stand on the side of the people, not their oppressors. He told Sunday Scoop, “When it comes to politics, choosing sides has its merits and demerits. But, I have always believed that being neutral is the best thing to do, because I am for everyone’s happiness. As for me, I will always stand with the people. It is only a fool that will go against the power of the… Read the full article here

Google is rolling out a fix for a bug that made Pixel Watch alarms go off at the wrong time. The Clock app update will be delivered via the Play Store, according to a statement from the company provided by spokesperson Sofia Giovannello.Reports of the problem started cropping up last month, with users reporting that their smartwatch alarms would sometimes go off a few minutes early or late. Apparently, they could miss the mark by up to 10 minutes, which could be the difference between making… Read the full article here

World 100m hurdles record holder Tobi Amusan is ready to compete in her first race of the 2023 season. The 24-year-old athlete, who has not competed since September 2022, has been entered to compete in both the women’s 100m and 200m at the upcoming Auburn Tigers Track Classic on Friday. Despite her success in the hurdles, Amusan is also a force to be reckoned with in the 100m and 200m sprint events, as evidenced by her personal best times of 11.11s and 22.60s, respectively. Having stayed away from competing indoors, the Auburn Tigers Track Classic will provide an excellent opportunity…