Wednesday, February 4

Business

Nigeria PMI slips below 50 as orders stall

Nigerian companies recorded a muted start to 2026, with business conditions broadly stable but momentum easing, according to the latest Stanbic IBTC Bank Nigeria Purchasing Managers’ Index published on Monday. According to the Stanbic IBTC…

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Stablecoin Card Adoption Will Take Off in 2026 Says Dragonfly

An industry leader said stablecoin-powered cards are shaping up to be one of the biggest crypto themes of 2026, which seek to provide the benefits of blockchain while keeping the payment experience familiar for consumers.“This is one of the big…

FG budgets N6.04bn payroll for idle Ajaokuta steel

The Federal Government has proposed to spend N6.04bn on personnel costs for workers of the Ajaokuta Steel Company Limited in the 2026 budget, even though the steel plant has not produced a single sheet of steel for more than four…

Colombia Introduces Mandatory Crypto Reporting Rules for Exchanges

Colombia’s tax authority, DIAN, has introduced a mandatory reporting regime for crypto service providers, requiring exchanges and intermediaries to collect and submit user and transaction data as part of its oversight of the digital asset sector.The rules were set out…

Court dismisses N1bn suit against MTN, awards N3m costs

A Federal High Court in Lagos has dismissed a N1bn lawsuit filed against MTN Nigeria Communications Plc by Walls and Gates Ltd and its Managing Director, Okechukwu Udeichi, over alleged copyright infringement, breach of confidentiality, and trademark violations arising from…

Bitcoin Bulls Rest, Prepping For Rally To 1.5K

Bitcoin traders’ risk sentiment turned bullish, with the proof being in this week’s futures-led advance to $95,000. Will bulls make another attempt after retesting a key underlying support level?The start of 2026 saw Bitcoin and select altcoins rally back toward…

Oil prices rebound as market focuses on Venezuela

Oil prices rebounded, rising about two per cent on Thursday after two days of declines as investors assessed developments in Venezuela and worried about supplies from Russia, Iraq, and Iran. According to Reuters, Brent futures rose $1.21, or 2 per…

Nasdaq and CME Team Up To Issue the Nasdaq-CME Crypto Index

The Nasdaq Stock Exchange and the Chicago Mercantile Exchange (CME) Group joined forces to unify their crypto indexes, rebranding the Nasdaq Crypto Index (NCI) as the Nasdaq-CME Crypto Index.The NCI benchmark index includes Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana…

NCAA threatens tougher sanctions over flight delays

The Nigerian Civil Aviation Authority has signalled plans to introduce tougher sanctions against domestic airlines over repeated flight delays and poor passenger handling, warning that recurrent inefficiencies will no longer be tolerated in the sector. This was announced on Thursday…

UBA surpasses N500bn capital milestone via rights issue

The United Bank for Africa has emerged as the latest lender to meet the new minimum capital requirement set by the Central Bank of Nigeria for banks with international operations, as its share capital crosses the N500bn mark. UBA achieved…

Crypto Traders Turn to Bots in Sideways Markets, HTX Says

Cryptocurrency traders increasingly leaned on automated strategies in 2025 as volatile but largely range-bound markets made directional bets harder to sustain, according to a year-end recap from HTX.The Seychelles-based exchange, formerly known as Huobi, said the trend was most visible in…

Regulators renew cooperation to boost oil investments

The Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have renewed efforts to enhance regulatory efficiency and foster investment in the country’s oil and gas sector, signalling a new era of cooperation between the…

BNY Launches Tokenized Bank Deposits for Institutional Clients

BNY, a financial services company that traces its roots back to one of the oldest financial institutions in the United States, launched tokenized bank deposits for its institutional clients on Friday.Tokenized bank deposits are onchain cash balances or depositor claims…

North central states move to domesticate new tax

As Nigeria begins implementing its new tax laws, legislative momentum is building across the North Central region, with Jigawa, Plateau, Kogi, Nasarawa and Kwara States taking concrete steps to domesticate the reforms and strengthen their revenue frameworks. Separate statements from…

Bitcoin, Altcoin Rallies Suppressed By Selling Near Range Highs

Key points:Bitcoin bulls will have to successfully defend the moving averages to increase the possibility of a break above $95,000.Most major altcoins have turned down from their overhead resistance levels, indicating that the bears are active at higher levels.Buyers are…

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