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Image Credits:  Chesnot / Getty Images China’s central bank said on Friday that all cryptocurrency-related transactions are illegal in the country and they must be banned, citing concerns around national security and “safety of people’s assets.” The world’s most populated nation also said that foreign exchanges are banned from providing services to users in the country. In a joint statement, 10 Chinese government agencies vowed to work closely to maintain a “high pressure” crackdown on trading of cryptocurrencies in the nation. The People’s Bank of China separately ordered internet, financial and payment companies from facilitating cryptocurrency trading on their platforms. The central bank said cryptocurrencies, including Bitcoin and Tether, cannot be circulated in the market as they are not fiat currency. The surge in usage of cryptocurrencies has disrupted “economic and financial order,” and prompted a proliferation of “money laundering, illegal fund-raising, fraud, pyra

China has banned pretty much all Bitcoin activities. Photo illustration by Edward Smith/Getty Images After a strong start to the year, bitcoin and its fellow cryptocurrencies hit hard times yet again this week. The biggest news, and most wounding setback, was China’s announcement of  new regulations  banning all cryptocurrency mining and transactions. The government left no wiggle room: In the world’s most populous nation, buying, selling, and otherwise dealing in crypto is now flat-out illegal. On Friday, 10 government bodies, including the People’s Bank of China, issued a joint statement vowing to crack down on cryptocurrencies and condemned the technology as  a threat  to citizens’ assets and a tool for facilitating criminal activities like money laundering. The price of Bitcoin fell about 8 percent on the news, but regained its footing somewhat later in the day. Other, smaller cryptocurrencies took even bigger hits. China has been instituting increasingly restrictive la

BBNaija ‘Shine Your Eye’ housemate, Saga Adeolu has revealed that he would have taken a voluntary exit from the show if Nini had not participated. Saga has never been short of drama ever since he started his adventure at the reality show with his relationship with Nini always the talking point. The talented young instructor has become popular for hanging around Nini and it wasn’t surprising when he failed the special task given to him by Biggie. Saga was asked to avoid Nini for some days but he failed woefully, spilling the truth to Nini just hours after he started the task. This move earned him a strike and another one followed after he was found whispering some words to Nini. Despite all this, Saga during a conversation with Nini, Emmanuel and Liquorose stated that he would have asked for a voluntary exit if Nini was not around. However, Nini replied by stating he would have gone for another housemate if she was not around. Liquorose also insisted that Saga wa

A businessman has offered to give 5 million naira to the boyfriend of Big Brother Naija housemate Nini to leave her for Saga. The man simply known as Oku made the offer after Nini secretly left the house as part of a secret task. Her disappearance was a source of heartache to Saga who had professed his feelings for her even though she stated countless time that she has a relationship outside the house. Saga went into a sad and gloomy state and broke down in tears on Wednesday when he could not find Nini. Speaking in reaction to the development, Oku said he will send 5 million naira to Nini’s boyfriend’s account for him to let her be with Saga. According to him, he does not want Saga to have a mental breakdown when Nini goes back to her boyfriend after the show.

A guest who felt displeased with the service at a Nigerian wedding, has been captured on tape putting his bundle of cash back in his bag as he refused to spray his money on the bride and groom. He claimed that he wasn’t served food at their wedding after sitting for hours. In a video which has gone viral, the young man could also be seen collecting some of the spoons and ceramic plate The wedding reportedly took place on Saturday in Ughelli, Delta state. The bundles of naira notes he initially wanted to spray on the newly-wedded couple was in N100 denomination. Watch the VIDEO https://www.instagram.com/_u/instablog9ja/?utm_source=ig_embed&ig_rid=34ae113c-a6ec-4208-aaee-fae910aa0495&ig_mid=144712DE-E35B-4663-9BB0-54F7465D8C50

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa slumped at the third National Identity Day celebration at the Banquet Hall Villa. Bawa who was delivering a goodwill message suddenly stopped, staggered back to his seat, and laid down. The Minister of Communications and Digital Economy, Professor Isa Pantami, and other dignitaries held him, after some time, he was guided out of the hall. More details later… In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state… The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the tr

The federal government has unveiled a new condition of service and salary scale for staff of the National Identity Management Commission (NIMC). Presenting the new service conditions to the commission at the International Conference Centre in Abuja on Thursday, Isa Pantami, minister of communications and digital economy, said the new annual salary scale has increased from N5 billion to N16.7 billion. ‘‘One of the major challenges I came across in the supervision of the NIMC was the poor working condition of the staff. Since the inception of NIMC in 2007, multiple attempts have been made to change the narrative of the staff emoluments without success. The process towards achieving a functional condition of service for the Commission has been a long and daunting task that commenced since 2010,” Pantami said. ”Following the completion of the transfer of the supervision of NIMC to the ministry of communications and digital economy in October 2020, it became my responsibility to

‘I Am Not A Fool’ – Annie Idibia Accuses TuFace Of Sleeping With Ex-Girlfriend NaijanewsSep 3, 2021Read original Popular Nigerian actress Annie Idibia has accused her husband Innocent Idibia, popularly known as TuFace, of engaging in extramarital affairs with one of his baby mamas Pero. In series of posts on her Instagram page on Thursday, the actress accused the music legend of allowing his extended family to interfere in their marriage. She wrote, “I am a patient woman!! But I am not a fool innocent! Your family never loved me from the beginning! No matter how hard I tried! I was never worthy to them!!! I have made so many sacrifices for you and all your children. God knows I have tried. “Your baby mamas constantly use your children as an excuse for all sorts of rubbish! I try to stay gracious!! You are not the first man on the planet to have kids by different women!!! You can do better! Everything I do is to show the good human that u r!!! But today! This move done by yo

Gulder Ultimate Search (GUS) Is Back Gulder Ultimate Search (GUS), the survival reality show that dominated the Nigerian airwaves in the early 2000s, is making its triumphant return after seven years off the air. Created and sponsored by Nigerian Breweries Plc, manufacturers of Gulder lager beer, GUS started in 2004 and enjoyed 11 seasons on the air. The show went on to become the most-watched reality TV series in Nigeria before it ended in 2016. Nigerian Breweries (NB) Plc. has officially announced that the show would make its comeback with “The Age of Craftsmanship” as the theme for the 2021 edition. Sade Morgan, the Corporate Affairs Director, Nigerian Breweries Plc, said, “We are really excited to be bringing back the Gulder Ultimate Search for the viewing pleasure of Nigerians who have over the years continued to call for the return of the show. The planning team has put in place everything necessary to give the fans exactly what they enjoy about the show, and I am con

Nigeria’s Minister of Power, Sale Mamman reportedly collapsed on hearing that President Muhammadu Buhari had disengaged him from his position. According to the Gazette, Mamman was rushed to a nearby hospital where he is receiving treatment. A family source disclosed that “He collapsed yesterday and was immediately hospitalised,” “He wasn’t expecting to be fired so soon.” Mamman has been Nigeria’s Minister of Power since 2019. Its currently unclear the ailment he suffers as efforts to reach him and his media aide have proved abortive. More to come…

… CBN Appoints technical partner for digital currency project T he Central Bank of Nigeria (CBN) has set an initial transaction limit of N50, 000 for non- account holders preparatory to the take-off of its digital currency set for October 1. The apex bank has also engaged global Fintech company, Bitt Inc., as the Technical Partner for its digital currency, named e-Naira, which is due to be unveiled later in the year. In a guide released by the bank to Deposit Money Banks (DMBs), the CBN stipulated a transaction limit for customers, non-interest-bearing Central Bank Digital Currency (CBDC) status, and an account value limit. CBN said neither merchants nor customers using the wallet will be charged a fee even as the e-Naira is a legal tender for the entire country. The bank said it will have non-interest-bearing CBDC status, a transaction limit for customers, and a value-based transaction limit. There are three levels to the CBN “Speed Wallet” issued primarily to