Author: Udenna Orji
The Bank for International Settlements (BIS) has issued a fresh warning about the risks posed by the growing adoption of cryptocurrencies and decentralized finance (DeFi), noting their potential to disrupt traditional finance and deepen economic inequality. In a report released on April 15, the BIS emphasized that the expansion of crypto markets and the influx of capital into DeFi have “reached a critical mass,” adding that investor protection has become a “significant concern for regulators.” With the crypto sector’s size now impossible to ignore, the BIS cautioned that authorities should be paying attention to the “stability of crypto over and…
Despite repeated warnings from financial regulators and industry experts, Ponzi schemes continue to thrive in Nigeria. Experts say the failure to learn from previous scams, combined with the inability or unwillingness of relevant authorities to proactively identify and clamp down on these entities, created the fertile ground upon which CBEX flourished. Allure of quick returns According to Vice Chairman of Highcap Securities, David Adonri, the key driver behind the persistent attraction to Ponzi schemes is greed, deeply rooted in a get-rich-quick mentality. “A lot of Nigerians want to reap where they did not sow,” he said. “They are lured in…
Biggest retirement providers to sign voluntary code to ‘buy British’ after Treasury pressure Rachel Reeves is closing in on a £50bn deal with pension funds to buy British assets after pressuring them to invest more in home-grown projects. The Chancellor will announce a new version of a voluntary code signed by the biggest retirement providers that will see them commit to ploughing 10pc of savers’ cash into unlisted assets by 2030, with half of that devoted to the UK. It is understood that a first draft of the new Mansion House Compact was circulated last week following several rounds of sometimes tense negotiations between…
Robert Kiyosaki, renowned author of the best-selling personal finance book Rich Dad Poor Dad, has issued a bold new warning, declaring that the collapse of the U.S. dollar is no longer a future risk — it has already happened. In a recent post on X (formerly Twitter), Kiyosaki cited record-breaking gold prices, rising silver demand, and the continued surge of Bitcoin as signs that the global financial system is undergoing a major shift. “Savers of stocks, bonds, ETFs, and mutual funds are being wiped out,” Kiyosaki stated, accusing central banks — including the Federal Reserve, the European Central Bank, and…
President of the African Development Bank Group (AfDB), Akinwumi Adesina, has warned African Countries against imposing retaliatory tariffs on the United States government, stressing that such action could be disastrous for their economies. Adesina gave the warning on Friday while delivering a convocation lecture at the National Open University of Nigeria (NOUN), Abuja, on the topic “Advancing Africa’s Positioning within Global Development and Geopolitical Dynamics.” The former Nigerian Minister of Agriculture advised African leaders to pursue deeper dialogue and negotiations with the U.S. government to amicably manage ongoing trade tensions. He said: “The world is obviously reeling from the effects of…
UK house prices have surged by an average of £10,431 over the past year, bringing the typical property value to £294,818, with demand for larger homes playing a key role in this growth. Easing interest rates have improved mortgage affordability, pushing annual property price growth to 3.7% in January 2025, a significant rise from just 1% at the start of 2024, according to data from Halifax. This latest increase has seen house prices surpass their previous peak in August 2022, which was set during the pandemic-driven property boom. Terraced houses have been the standout performers, recording a 4.5% price increase…
The 10-year Standard Visitor Visa allows Nigerian travellers to visit the UK multiple times over a decade, with each stay lasting up to six months. This visa is ideal for individuals with ongoing personal or professional ties to the UK but it does not permit long-term residence or employment. For many Nigerians, this visa offers convenience, eliminating the need for frequent applications while allowing visits for family, business or short courses. The UK government has streamlined the process for repeat travellers, making it a preferred choice for tourists and business visitors. What is the process for Nigerian applicants? 1. Determine Eligibility…
ON February 10, President Donald Trump imposed a 25 per cent tariff on steel and aluminium imports into the United States. Trump said, “It’s 25 per cent without exceptions or exemptions. That’s all countries, no matter where they come from, all countries.” Things will get messier for global trade. The European Union vowed to retaliate if Trump imposed tariffs on EU exports to the US. Earlier, Trump imposed a 10 per cent tariff on some Chinese products. China retaliated by imposing tariffs on a range of US products from February 10. The US is the biggest economy in the world,…