Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.
Bitcoin ‘Taproot’ Upgrades Network Privacy, Security. PHOTO CREDIT: YOUTUBE
Bitcoin has received a significant upgrade as it rolled out a long-anticipated 'Taproot' code with a focus on enhancing the network's privacy and security.
The new upgrade rolled out over the weekend is expected to improve both privacy and security for complicated transactions through new signatures that make the transactions look like any other exchange and difficult for snoops to recognise when an unusual transfer is taking place. Read more here.
The naira appreciated by 0.1% to close at N414.80 against the United States Dollar in the I & E window on Thursday, November 18, 2021. It, however, depreciated by -0.03% at the interbank bank market to exchange at N411.57 to a US Dollar. Figures compiled by our correspondent showed that the naira still exchanged at an average price of N545.15 to a US Dollar in the parallel market.
In other news, the interbank offered rate contrasted by 39bps as it fell from 13.95% to close at 13.56%. While the overnight lending rate expanded by 25 basis points to 14.0%, following significant funding pressures that surpassed inflows from OMO maturities. Read more here.
When compared to the stable rate of the naira as against the USD in the I & E window official market which exchanged at N411.43/USD, the former's selling rate fluctuated around a resistance and support level of N548 to N545 at the parallel market.
The Money Policy Rate (MPR), inflation rate and gross external reserves remain unchanged as they closed at 11.50%, 16.63%, and $41.51 billion respectively, showing stability in government policies on all macroeconomic indices of the nation’s economic life. Read more here.
The African Farmers Management Association (AFMA) on Thursday says that agriculture still remains the most important component of Nigeria’s economy.
Professor Usman Haruna, the President of AFMA stated this in an interview with the in Calabar. Read more here.
The Oyo/Osun Area Command of the Nigeria Customs Service (NCS) has generated N50.98 billion between January and October 2021.
The Customs Area Controller, Comptroller Adamu Abdulkadir, made this known in Ibadan on Friday while displaying 5,046 bags of foreign rice and other contraband seized by the command. Read more here.
These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.
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