Exclusive Reports

Wed, May

SEC, CBN Working On Regulatory Guidelines For Crypto Trading

The Director-General, Securities and Exchange Commission (SEC), Lamido Yuguda has disclosed that the commission is working alongside the Central Bank of Nigeria (CBN) for a better understanding and regulation of cryptocurrencies in the country.
Mr. Yuguda made the disclosure during the virtual 2021 first post-Capital Market Committee (CMC) conference, saying the commission was in discussions with CBN to better understand the crypto assets and workings. He noted that the suspension on cryptocurrency asset guidelines in the country was due to the lack of access to Nigerian bank accounts, adding that the commission remains supportive of Fintechs and also invested in developing a framework to support its operations.

UAE Rover To Land On Moon In 2022

Japanese Lunar exploration firm, iSpace has on Wednesday announced that it will be transporting an unmanned rover belonging to the United Arab Emirate (UAE) to the moon next year. The Gulf State earlier announced the planned launch of the “Rashid” Rover in September, indicating an expansion in their space sector also said the rover was scheduled for 2024. The rover "will be transported to the Moon on iSpace’s lunar lander" during a mission in 2022, ISpace said, adding that it "will deliver the Emirates lunar mission's 'Rashid' rover to the Moon, provide wired communication and power during the cruise phase, and engage in wireless communication on the lunar surface".

LG To Officially Shutdown Smartphone Production

South Korean multinational electronic corporation, LG Corp has on Monday announced that it will be closing down its mobile division, withdrawing completely from the smartphone market. This move to close down LG’s mobile division was after it failed to find a buyer for the loss-making smartphone division. According to Reuters, the South Korean company said the smartphone division has recorded a total loss of about $4.5 billion in nearly 6 years. The division has “failed to produce results” amid “intensifying price competition among major competitors in the entry-level mobile phone market”, the company said in a statement.

Bitcoin Hits All Time $60,000 Record Price

The price of Bitcoin, a popular cryptocurrency rose to an all-time high by 25.13 percent at $60,310.47 on Saturday. Bitcoin’s price soared after major global companies like Tesla Inc, Mastercard Inc, among others backed and invested in cryptocurrencies.
The most popular digital currency recorded a low of $56,065.07 and got to a high of $59,983.60 before reaching $60,000.

Twitter Advertises Jobs In Ghana As It Prepares To Open First Africa Office

Twitter has announced it will recruit 11 people in Ghana, the company’s first hires on the African continent, and that it is looking into opening an office there. The social media company joins Facebook and other tech companies moving into Africa.

Jack Dorsey’ First Tweet Fetches $2.9 M At Auction

The first tweet ever sent on Twitter by the CEO, Jack Dorsey has on Monday been sold for $2.9 million as a winning bid for the collectible as a Non-Fungible Token (NFT) at an auction.

Nokia Signs Patent License Deal With Samsung

Finnish multinational information technology company, Nokia has on Thursday disclosed that it has signed a deal with Samsung to license patents covering its innovations in video standards. The deal means Nokia is giving Samsung ownership of its inventions for a given period of time Patent, allowing Samsung to either use or sell the inventions exclusively or non-exclusively. Nokia’s patent portfolio is composed of around 20,000 families, including over 3,500 essential to the 5G network technology.
Reuters, reports that Nokia rival, Ericsson had earlier filed a lawsuit in the U.S against Samsung, claiming the South Korean company had infringed some of its patents in the 4G and 5G systems.

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