AFRICA

ANALYSIS: Cryptocurrency Ban in Nigeria – History, Implication and Effect

A look into the ban on cryptocurrency in Nigeria by Ibrahim Moshood and Oneyka Cindy Ojogbo, Associate and Senior Associate respectively of the international law firm Centurion Law Group In a letter dated 5 February 2021[1], the Nigerian government through its apex bank – the Central Bank of Nigeria (“CBN”) – clamped down on cryptocurrencies in Nigeria. The letter specifically …

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Nigeria: Money transfer company supports CBN on dollar account

International remittance service provider, WorldRemit has described the move by the Central Bank of Nigeria, CBN, mandating commercial banks to open dollar accounts for customers who do not have as timely and apt. Country Manager, WorldRemit, Nigeria and Ghana, Gbenga Okejimi, stated that the move would enhance remittance payments for those who receive support from family and friends abroad. The …

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Service providers must transform to meet communications needs in Africa – Expert

The global pandemic has accelerated the need for true digitisation as African customers demand a more seamless digital customer experience from their communications service providers (CSPs), writes Pikie Monaheng, CEO at Amdocs South Africa JOHANNESBURG, South Africa, February 17, 2021/ —  It’s no secret that CSPs need to transform their businesses to compete in the continent’s highly competitive communications landscape …

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Nigerians in diaspora to discuss insecurity in home country at virtual conference

The security situation in Nigeria is worsening by the day as marauding bandits, camouflaging as herdsmen, roam across the country kidnapping for ransom, waylaying travellers, killing farmers and generally making the country unsafe. Added to the security troubles of the country is the possibility of inter-ethnic clashes flaring in different parts of the country caused by worsening inter-communal relationship. Members …

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WHO selects AstraZeneca as first vaccine for Africa, others

The World Health Organization (WHO) has approved the first vaccine for its COVAX program, aimed at ensuring equitable access to vaccines in Low- and middle-income countries. On Monday, the UN health agency issued emergency approval for the AstraZeneca vaccine, with deliveries expected to commence by March. The approval comes after a study in South Africa indicates that the AstraZeneca vaccine …

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Nigeria’s Okonjo-Iweala becomes first woman, African to lead WTO

The World Trade Organisation has confirmed Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala as the next Director-General. She is the first woman and the first African to lead the international trade body. According to a statement by the organisation on Monday, her term is scheduled to start on 1 March 2021. The term, which is renewable, will expire on 31 August 2025. …

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#EndSARS: Angry reactions trail arrest of peaceful protesters in Lagos

Lagos, Nigeria: Following the decision of the Lagos State Judicial Panel to allow the Lekki Concession Company to reopen the Lekki tollgate where soldiers opened fire on peaceful protesters, killing many in cold blood on 20 October 2020, Nigerian youths protested on Saturday to show their dissatisfaction of the decision. Despite the presence of heavy security operatives on ground, youths …

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New private airline launches in Nigeria

A new airline begins commercial operations in Nigeria on Friday, 12 February. The Enugu-based United Nigeria recently received approval to commence operation and was handed an Air Operators Certificate (AOC) by the Nigerian Civil Aviation Authority (NCAA), having fulfilled all mandatory regulatory requirements.  The airline will conduct its inaugural flight on Friday, taking off from the domestic wing of Murtala …

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Why African media reports negatively about African countries – New study explains

Western media has long been criticised for reporting negatively about Africa. However, a new study, which analysed content from news outlets in 15 countries across the continent, has found that African media also reports negatively about Africa. Our contributing editor Kester Kenn Klomegah explains what’s behind this disturbing reality and what should be done to change it  Interestingly, one-third of all …

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Faki Mahamat re-elected head of AU Commission

Moussa Faki Mahamat was re-elected the chairperson of the African Union Commission on Saturday during the two-day virtual summit of the organisation. The Chadian diplomat won the support of 51 of 55 member states in a secret ballot to win a second term as AU executive head at the 34th Ordinary Session of the Assembly of Heads of State and …

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Why we declared cryptocurrency illegal in Nigeria – Central Bank

The Central Bank of Nigeria has reacted to criticisms trailing its declaration that  the use of cryptocurrencies in Nigeria contravenes existing laws. The apex bank had issued a statement on Friday warning banks and other financial institutions to desist from transacting cryptocurrencies and dealing with entities who do same. According to the CBN in a new statement on Sunday, cryptocurrencies …

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President Biden’s first foreign policy speech and its implications for Africa

President Joe Biden’s first foreign policy speech on 4 February was high on ideals but low on priorities for Africa and the developing world. It reminded me of the idealistic vision of Jimmy Carter when he came to power in 1976. Carter’s rhetoric was loaded with idealism of a world cooperating for global peace, without appreciating the limits of American …

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Angry reactions as Nigeria bans buying, selling of cryptocurrency

Following a directive banning cryptocurrency trading by the Central Bank of Nigeria (CBN), Nigerians have expressed strong displeasure of the decision of the federal government under the leadership of President Muhammadu Buhari. In a circular dated 5th February 2021, the CBN notified banks and other financial institutions against doing business in Crypto and other digital assets. According to Wikipedia, a …

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Nigeria’s Okonjo-Iweala set to lead WTO as rival withdraws

Former Nigeria’s minister of finance, Ngozi Okonjo-Iweala is set to become the first African, woman to lead the seat of 164-member World Trade Organisation. Coast is clear for her to emerge for the top job as the United States government under the administration of President Joe Biden endorsed her on Friday, in what was expressed as a ‘strong support’, according …

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Forbes releases Africa’s Billionaires 2021 List

The international business magazine Forbes has released its annual list of Africa’s most wealthy individuals. According to the report, the continent has 18 billionaires this year, down from 20 in 2020. Together, they are worth $73.8 billion, slightly more than the $73.4 billion aggregate worth of the 20 billionaires last year. Aliko Dangote of Nigeria is the richest person in …

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South African president urges rich countries to stop “vaccine nationalism”

South African President Cyril Ramaphosa on Tuesday urged the world’s wealthiest countries to stop “hoarding” vaccines and called for an end to “vaccine nationalism.” In remarks delivered at the World Economic Forum’s virtual Davos Agenda event, Ramaphosa cautioned that some countries had ordered more supplies of vaccines than they needed, and that this was counterproductive to the global recovery effort. …

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Africa’s COVID-19 death rate now higher than global rate

According to a new report of the global news agency Reuters, Africa’s coronavirus case fatality rate stands at 2.5%, higher than the global level of 2.2%, a trend that is alarming experts. Earlier in the pandemic, Africa’s death rate had been below the global average, the Africa Centres for Disease Control and Prevention (CDC) head John Nkengasong is quoted as …

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Museveni wins Uganda’s presidential election

President Yoweri Museveni has been declared winner of the 2021 Presidential election by the country’s electoral commission. According to the commission on Saturday (16 January), Museveni won a sixth term in office with 58.6 percent of the vote, in an election disputed by his main rival Bobi Wine who trailed with 34.8 percent. “The electoral commission declares Yoweri Museveni… elected …

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