Author: New Daily Prime

Bitcoin has skyrocketed past the $100,000 mark, reaching an all-time high of $103,800, driven by growing investor confidence sparked by U.S. president-elect Donald Trump’s newly embraced pro-crypto stance. The cryptocurrency’s remarkable rally has seen a 50% surge since Trump’s election win in November. The surge accelerated after Trump nominated Paul Atkins, a prominent crypto advocate, to lead the U.S. Securities and Exchange Commission (SEC). Atkins’ appointment signals a shift towards a more crypto-friendly regulatory environment, which has excited investors and market participants alike. In a statement, Kris Marszalek, CEO of Crypto.com, remarked, “Bitcoin reaching $100k is an incredible milestone for…

The Nigerian Senate has paused its deliberation on the controversial Tax Reform Bills, following widespread public opposition. The suspension, announced by Deputy Senate President Jibrin Barau on Wednesday, December 4, includes halting the planned public hearings until the concerns surrounding the bills are addressed. The bills in question are the Joint Revenue Board of Nigeria (Establishment) Bill, 2024, Nigeria Revenue Service (Establishment) Bill, 2024, and the Nigeria Tax Bill, 2024. These reforms have faced significant pushback since their introduction, particularly from northern governors, who argue that the bills are anti-democratic and unfairly target the northern states. The National Economic Council…

Nigeria stands as the African leader in oil refining infrastructure, with nine refineries, more than any other nation on the continent. Africa’s role in the global energy market is significant, producing nearly 10 million barrels of oil daily as of 2024. Yet, the continent’s refining capacity has struggled to meet its fuel demands. Five nations which include Nigeria, South Africa, Ghana, Angola, and Sudan boast the highest number of oil refineries. These countries have made substantial investments to meet domestic demand, create jobs, and reduce reliance on imported petroleum products. However, several other African nations operate only one refinery each,…

The Ekiti State Commissioner of Police, Mr. Adeniran Akinwale, has defended the recent arrest of Lagos-based human rights activist, Dele Farotimi, for alleged cyberbullying and defamation. In an interview with a correspondent on Tuesday, December 3, Akinwale stated that Farotimi was arrested due to charges including defamation of character, cyberstalking, and other related offenses, which he claimed had been “fully established.” “We are investigating him. If the suspect is arrested, we will bring him for investigation,” Akinwale explained, emphasising that a thorough investigation would be conducted to determine Farotimi’s level of culpability, or lack thereof. Farotimi’s arrest has drawn strong…

The Economic and Financial Crimes Commission (EFCC) has linked the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to a massive property in Abuja, consisting of 753 duplexes and other apartments. The property, located in the Cadastral Zone area of the capital, spans 150,500 square meters and was recovered following a court ruling on December 2, 2024. This marks one of the EFCC’s largest asset recoveries since its establishment in 2003. The EFCC’s investigation suggests that the property, which was initially intended for mass housing development, was purchased through illegal means. It was allegedly acquired by Emefiele…

Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG), has hinted that his in-law, Pastor Bayo Adeyokunnu, might succeed the late Oba Adekunle Aromolaran as the Owa of Obokun of Ijeshaland in Osun State. Adeyokunnu, who serves as the Deputy Continental Overseer of RCCG in the United States, is reportedly being considered as a possible successor to the throne following the death of Oba Aromolaran on September 12, 2024. Pastor Adeboye made this suggestion during the 70th birthday celebration of Adeyokunnu at the RCCG Victory Temple in Bowie, Maryland, on October 16, 2024. In a…

The Federal Government has raised $2.2 billion in Eurobonds to fund the fiscal deficit in the 2024 budget. According to a statement by the Debt Management Office (DMO), the bonds will mature in the international capital markets in 2031 (6.5-year) and 2034 (10-year). The statement noted that the funds have $700 million and $1.5 billion placed in the 2031 and 2034 maturities, respectively. The 6.5-year and 10-year notes were priced at coupon and re-offer yields of 9.625 per cent and 10.375 per cent, respectively. The DMO said, “The Federal Government has successfully priced US$2.2 billion in Eurobonds maturing in 2031 (6.5-year)…

President Bola Tinubu has directed the Federal Ministry of Justice to work with the National Assembly to ensure that “genuine concerns” associated with the Tax Reform Bills are addressed before they are passed by lawmakers. Minister of Information and National Orientation Mohammed Idris disclosed this in a statement on Tuesday, December 3. “In line with the established legislative procedure, the Federal Government welcomes meaningful inputs that can address any grey areas in the bill. “In this vein, President Tinubu has already directed the Federal Ministry of Justice and relevant officials who worked on the drafts to work closely with the…

The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to advancing local content development in Nigeria’s energy sector, aiming to foster sustainable growth and innovation within the industry. This commitment was expressed by the Group Chief Executive Officer (GCEO), Mele Kyari, during the 13th Practical Nigerian Content (PNC) Forum held in Yenagoa, Bayelsa State. Kyari, represented by Udobong Ntia, Executive Vice President of Upstream, emphasised that the forum offers stakeholders a platform to reflect on progress, share best practices, and identify strategic growth opportunities. He noted that the Nigerian Oil and Gas Industry Content Development Act of 2010…

A US judge has upheld her decision to reject Elon Musk’s $55.8 billion compensation package at Tesla, denying an attempt to restore the deal through a shareholder vote. Chancellor Kathaleen McCormick of Delaware’s Court of Chancery ruled on Monday that Tesla’s attempt to ratify Musk’s compensation plan through a vote in June could not overturn her earlier January decision, which deemed the package excessive and unfair to shareholders. In her ruling, McCormick pointed out several flaws in Tesla’s ratification attempt, including “material misstatements” in the documents provided to shareholders regarding the impact of their vote. She stated, “The motion to…