Saturday, October 17

Business

FG’s N105bn housing budget fails to impress stakeholders

The Federal Government has increased the budgetary allocation to the Federal Ministry of Housing and Urban Development by seven per cent, raising it from N98.13bn in 2025 to N105bn in the 2026 Appropriation Bill. Budget documents show that the allocation…

‘Decent Chance’ Bitcoin Already Bottomed at K: Analyst

Bitcoin’s fall of around 7% to $77,000 on Saturday might have marked the low of this cycle, according to Bitcoin analyst PlanC.It comes as other crypto analysts continue to call for further downside for Bitcoin (BTC) in the coming months.“Decent…

NigComSat-2 gets N420m allocation despite funding cut

The Federal Government has proposed a budgetary allocation of N420.97m for the NigComSat-2 Project in the 2026 fiscal year, signalling a scaled-down but sustained push to advance Nigeria’s next-generation satellite communications programme. Details from the 2026 Appropriation Bill show that…

‘Tax reforms can unlock oil, gas value’

Stakeholders in Nigeria’s oil and gas industry have said recent fiscal reforms, particularly the Nigeria Tax Act 2025, hold significant potential to unlock value across the country’s energy value chain if effectively implemented. They made this known at the 2026…

SOL Falls To  As Bitcoin, Gold, Silver Sell-off: What’s Next?

Key takeaways:SOL fell to 2026 lows as tech sector layoffs and artificial intelligence revenue concerns hit markets.Despite the bleak environment, Solana outpaced competitors with network fees jumping 81%, securing its vice-leadership.Solana’s native token, SOL (SOL), traded down to $100.30 on…

Asset management firm backs capital gains tax for stability

The Managing Director/Chief Executive Officer of Arthur Stevens Asset Management Limited, Mr Tunde Amolegbe, has stated that Nigeria’s proposed 25 per cent capital gains tax on investment profits could play a crucial role in reducing market volatility and discouraging speculative…

Kuda targets hybrid banking under new national licence

Kuda Microfinance Bank has said that it would blend its digital-first operations with physical touchpoints across the country under its newly issued national licence. This was disclosed in a statement issued by the company on Friday. The Central Bank of…

Transcorp Hotels records N97bn revenue, profit surges

Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has reported a historic revenue of N97.04bn in 2025, which is 38 per cent higher than N70.13bn in the previous year. This was indicated in the audited financial reports of…

First HoldCo’s impairment charge jumped 75% in 2025

First Holdco Plc recorded a 75.5 per cent surge in impaired credit provision in 2025, compared to 2024, according to its unaudited financial statements issued on Friday, causing the financial services group to put aside N748.1 billion to cover problem…

BitMine Faces B Unrealized Ether Loss as Crypto Sell-Off Deepens

BitMine Immersion Technologies, a publicly traded cryptocurrency treasury company linked to investor Tom Lee, is carrying significant unrealized losses on its Ether holdings following the latest wave of market liquidations, underscoring the risks facing crypto balance-sheet strategies during sharp downturns.After…

How CoreWeave and Miners Pivoted

CoreWeave’s transformation from a crypto-mining operator to a large-scale AI infrastructure provider highlights a broader shift in how computing resources are reused across technology cycles.In its latest newsletter, The Miner Mag outlined how Ethereum’s move away from proof-of-work reduced demand…

Otedola defends N748bn bad loan write-off at First Bank

Group Chairman of First Bank Holdings, Mr Femi Otedola, has defended the company’s decision to take a one-time charge of N748bn to clear legacy bad loans, describing the move as a strategic step toward long-term stability despite its impact on…

There Is No Trust In DeFi Without Proper Risk Management

Opinion by: Robert Schmitt, founder and co-CEO at CorkDeFi has entered its institutional phase. As large investors dip their toes into crypto ETFs and digital asset treasuries (DATs), the ecosystem is gradually evolving into an institutional-grade financial system in its…

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