The Central Bank of Nigeria Governor said investing in the cryptocurrency is a “gamble” and hinted it may have to be regulated. Nigeria is where bitcoin trading grew the most last year. “Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful,” Emefiele said in an interview on Wednesday at his office in the capital, Abuja. “We cannot as a central bank give support to situations” where people risk savings to “gamble,” he said.

Vice President Yemi Osinbajo has informed participants at World Economic Forum (WEF) in Davos, Switzerland, that Nigeria is a ready to partner international investors and friendly nations to develop Nigeria’s manufacturing sector and promised to boost infrastructure to provide ambience for investment.

In a statement by his Special Senior Assistant on Media, Laolu Akande, in Abuja, Osibanjo stated that the Buhari administration working with the Private Sector is determined to boost the Nigerian manufacturing sector and will be engaging with international partners and friendly nations to realise the goal.

The Vice President stated this while meeting with a delegation of the Japan External Trade Organization (JETRO), led by Mr Hiroyuki Ishige, the organisation’s Chairman and CEO on the sideline of the World Economic Forum (WEF).

President will be President Muhammadu Buhari on Wednesday approved the appointment of Edward Lametek Adamu, Director of Human Resources at the Central Bank of Nigeria (CBN), as the new Deputy Governor of the Bank on the recommendation of CBN Governor Mr. Godwin Emefiele.

Mr. Edward Adamu will be replacing Mr. Suleiman Barau who retired in December 2017; subject to the confirmation of the Senate; along with others including that of another Deputy Governor, Aishah Ahmad, the Board of the Bank, and members of the Monetary Policy Committee.

Edward Adamu was born on June 22, 1959 (57yrs) in Kaltungo LGA, has acquired over twenty five years of experience at the CBN.

Oando Plc on Monday said it has signed a peace accord with one of the aggrieved shareholders, Alhaji Dahiru Mangal, who earlier petitioned the Securities and Exchange Commission (SEC).

Mr Ayotola Jagun, Oando Chief Compliance Officer & Company Secretary said that the Emir of Kano, Muhammadu Sanusi II, waded into the crises between the company and Alhaji Dahiru Mangal.

The statement was posted on the Nigerian Stock Exchange website (NSE).

The company in the statement officially confirmed Mangal as a substantial shareholder.

The Saudi Arabia-based Islamic Corporation for the Development of the Private Sector (ICD) aims to raise $1 billion for a new sharia-compliant fund that will focus on infrastructure projects across Africa.

The plan follows a shareholder agreement signed between the ICD, the private sector arm of the Islamic Development Bank, and the private equity arm of India’s Infrastructure Leasing and Financial Services Group.

The fund will launch with 105 million dollars in seed capital and expects to close its initial round of fundraising in the first half of the year, the ICD told newsmen.

Investors on the Nigerian Stock Exchange, NSE, today lost a total of N6 billion from their investment as profit taking takes center stage in the market. Though the price movement chart showed that for one loser, there was a gainer, but the losers upstaged the gainers following losses in some heavily capitalised stocks. Specifically, 26 gainers and another 26 losers emerged at the end of today’s trading.

The Nigeria National Petroleum Corporation (NNPC) has confirmed the presence of adequate hydrocarbon in the Sokoto basin, which it said possesses a depth of over 2000m, ideal for effectual oil exploration.

During a workshop on hydrocarbon potential held at the ultra-modern auditorium of Usman Danfodiyo University, being organized by the Petroleum Technology Development Fund (PTDF), the NNPC Group Managing Director, Maikanti Baru, beckoned on state governments of Sotoko,

Kebbi, Zamfara and Katsina, as well as other business firms to grab the opportunity and forward bids towards acquisition of oil blocks.

The National Insurance Commission (NAICOM) has released a revised microinsurance guideline for the underserved and excluded segment of the populace.

The commission said the guideline was also introduced as part of the financial inclusion strategy to stimulate growth in the insurance subsector especially the retail end of the market and drive insurance penetration.

The guideline, which comes to effect on January 1, 2018, establishes uniform set of rules, regulations and standards for conduct of microinsurance business.

The guideline was made available to reporters by the Commission’s Head, Corporate Affairs, Rasaaq Salami in Lagos.

The Nigerian National Petroleum Corporation (NNPC) has announced plan to build more depots to ease products supply and distribution in the country.

The NNPC Spokesman, Mr Ndu Ughamadu said the the NNPC Group Managing Director, Dr Maikanti Baru, made the disclosure in Abuja while inaugurating the board of one of its downstream companies, NNPC Retail limited.

The Securities and Exchange Commission (SEC) has extended period for the free e-dividend registration to Feb. 28, to encourage more shareholders participation in the initiative.

The commission in a statement obtained on Thursday in Lagos, indicated that the extension was part of its developmental role.

It said that the extension became necessary to encourage more shareholders mandate their bank accounts.

The statement said in reviewing the progress of the e-Dividend Registration after the Dec. 31, 2017 deadline, there was still a great influx of shareholders desirous of mandating their Bank accounts for payment of dividends electronically.