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Didi Taihuttu in Lagos, Portugal MacKenzie SigalosTaihuttu's indicator considers a mix of inputs, including directional trading data and moon cycles. Moving Average Convergence Divergence (MACD) compares two moving averages of a cryptocurrency's price by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. When the 50-day moving average crosses below a falling 200-day moving average, it is known as the Death Cross , signaling a bear market may be imminent. When the 50-day moving average crosses below a falling 200-day moving average, it is known as the , signaling a bear market may be imminent. Price chart showing the 'Didi BAM BAM' market indicator Didi TaihuttuAnd then there are the intangible price influencers — like moon phases.
Persons: Thailand Didi Taihuttu LAGOS, Didi Taihuttu, Portugal MacKenzie Sigalos Taihuttu's, Bitcoin, Taihuttu, DAI —, Didi, Portugal MacKenzie, Portugal —, Portugal Didi Taihuttu, Mayer, It's, Price, , I'm, Didi Bam Bam, Thailand Didi, ChatGPT, Goldman Sachs, Marco Argenti, Goldman, Louisa, David Solomon, Morgan Stanley, Morgan, Jeff McMillan, — CNBC's Ryan Browne Organizations: CNBC, Didi BAM, BAM, Bollinger Bands, Bollinger, Lightning Networks Locations: Phuket, Thailand, PORTUGAL, Lagos, Algarve, Taihuttu, bitcoin, Portugal, cryptocurrency, ChatGPT
Lagos, Nigeria CNN —For the first time, Essence Fest – which has been celebrating African American culture in the United States for more than two decades – is devoting a day to Nigeria’s Nollywood film industry – the most prolific in Africa. “Nigeria will have its own day in terms of the film and TV industry, where we are front and center. “It’s such an honor to be part of this inaugural official Nollywood delegation to the Essence Festival. Last year, Amazon Prime Video secured exclusive streaming agreements with two Nollywood film studios in its hunt for African content. (But) we have to take our stories out … by participating in international events like the Essence Festival and the Cannes Film Festival.
Persons: Nigeria’s, Toyosi, , Shawn Faqua, , Daniel Etim Effiong, Nollywood, Effiong, Etim Effiong Organizations: Nigeria CNN —, Culture, CNN, , Essence, Amazon Prime, Netflix, Cannes Film, American Locations: Lagos, Nigeria, United States, Africa, New Orleans, “ Nigeria, West African, Nigerian, Nollywood
Kenyan shipments of tea - its major export - have fallen by a fifth over the last year, according to the local regulator. The spike in global interest rates has already tipped Sri Lanka and Ghana into defaulting. Reuters GraphicsBLACK MARKETAlthough the dollar's share as a global reserve currency has dropped to 59% from 70% over a decade, it continues to dominate global trade. Nigeria has long had a web of multiple exchange rates which it is now trying to untangle, having also devalued its naira currency again last week. A plunge of around 70% in Bolivia's reserves has spawned queues at banks and currency exchange shops as some merchants stopped accepting local currency.
Persons: Wilson Muthaura, KTDA, Charlie Robertson, Muthaura, David Willacy, Ojo, Chaucer, Ronal, Luiz Inacio Lula da Silva, Kristalina Georgieva, William Ruto, Duncan Miriri, Marc Jones, Macdonald Dzirutwe, Monica Machicao, Mayela Armas, David Sherwood, Catherine Evans Organizations: Bank, FIM Partners, Reuters Graphics, Workers, REUTERS, La Paz, West, Reuters, JPMorgan, Monetary Fund, IMF, Fund, Thomson Locations: NAIROBI, LONDON, Pakistan, COVID, Russia, Ukraine, London, Islamabad, Egypt, Sri Lanka, Ghana, Tunisia, teetering, Nigeria, Kenya, StoneX, Nigeria's, Lagos, British, Cuba, Venezuela, Githunguri, Kiambu County, United States, Lebanon, Turkey, Ethiopia, China, India, Johannesburg, Saudi Arabia, Africa, Argentina, Nairobi, La Paz, Caracas, Havana
Nigeria today faces record debt, unemployment is worryingly high, and power shortages have contributed to years of anaemic growth. "The path to political power in Nigeria, over time, has always been through these vested interests," said Bismarck Rewane, CEO at Financial Derivatives Company in Lagos. ENTRENCHED NETWORKSTinubu's ambitions to build a $1 trillion economy in eight years could come unstuck in part due to chronic power shortages. Getting the lights on would be a major win, but to do so some say Tinubu must remove grid subsidies and cut red tape. Tinubu suspended the head of the financial and economic crimes agency, but has yet to outline an anti-graft plan.
Persons: Bola Tinubu, Jason Tuvey, Bismarck Rewane, Tinubu, Tunau Taiwo, Nnamdi Obasi, Prince Ojeabulu, Muhammadu Buhari, jihadists, beholden, Joe Bavier, Conor Humphries Organizations: New, Capital Economics, Financial Derivatives Company, International, Rensource Energy, Nigeria Delta, Observers, Thomson Locations: Nigeria, LAGOS, New Nigerian, Lagos
A British Airways flight was delayed for hours after its emergency slide was accidentally inflated. The Sun reported that it was deployed by a flight attendant on her first trip on an Airbus A350. A similar incident affected another British Airways plane at Heathrow in January. A British Airways cabin crew member accidentally activated an emergency slide as the plane was heading for the runway, delaying passengers for hours. It's the second such incident affecting British Airways this year.
Persons: It's, British Airways repesentative Organizations: British Airways, Sun, Airbus, Morning, The, Boeing, Heathrow, Evening Locations: Heathrow, London, Austin , Texas, Lagos, Nigeria
But investors, burned by previous reforms that ultimately proved hollow, say it will take time to build trust and listed myriad questions over the final shape of the economy. Tinubu is from the same party as predecessor Muhammadu Buhari, dubbed "Baba Go-slow" for his pottering pace - taking six months to appoint cabinet members. Nigeria's international dollar bonds and the country's stock market have been boosted by the speedy reforms. Reuters GraphicsInvestors also worry about low tax receipts and falling oil output - structural reforms that will take far longer to sort. Meanwhile interest rates, which Tinubu has said he would like to see fall, were hiked by 50 bps last month to 18.5%.
Persons: Bola, Temilade, Bola Tinubu's, Tunde Ajileye, Muhammadu Buhari, Godwin Emefiele, Goldman Sachs, Andrew Matheny, John Mumo, Joe Delvaux, Amundi, Delvaux, Tinubu, Patrick Curran, Rachel Savage, Libby George, Karin Strohecker, Nick Macfie Organizations: Nigeria's, REUTERS, Central Bank, Reuters, Reuters Graphics, Tellimer, Thomson Locations: Abuja, Nigeria, JOHANNESBURG, LONDON, Lagos, Blakeney, Africa
ABUJA, June 14 (Reuters) - Nigeria's central bank allowed the naira currency to drop as much as 36% on the official market on Wednesday, days after the central bank governor who oversaw much-criticised multiple exchange rates was suspended. The naira hit a record low of 750 to the dollar on the official market, Refinitiv Eikon data showed, down from a previous low of 477 naira to the dollar struck on Tuesday. Traders said the central bank had removed trading restrictions on the official market. Central bank governor Godwin Emefiele was suspended late last week, after new President Bola Tinubu criticised Emefiele's handling of the currency and monetary policy at his inauguration. Tinubu has called on the central bank to work towards a unified exchange rate, rather than the multiple exchange rates Emefiele oversaw to keep the naira artificially strong.
Persons: Godwin Emefiele, Bola Tinubu, Tinubu, Emefiele, Charlie Robertson, MacDonald Dzirutwe, Rachel Savage, Karin Strohecker, Alexander Winning, Chizu Organizations: Traders, FIM Partners, Thomson Locations: ABUJA, Central, Lagos, Johannesburg, London
Lagos, Nigeria CNN —Nigerian chef Hilda Effiong Bassey, known on social media as Hilda Baci, has been confirmed as the new world record holder for the longest cooking marathon, the Guinness World Record (GWR) committee said Tuesday. The record was confirmed nearly a month after the GWR reviewed footage from the cookathon, which lasted four days. I said I wanted to be a record holder and now I am. Although Bassey cooked for 100 hours, she was penalized for an error in her scheduled rest breaks, according to the world record committee. “There was a miscalculation when it came to Hilda’s rest breaks, meaning we are unable to award the 100 hours claimed,” the adjudicator said.
Persons: Hilda Effiong Bassey, Hilda Baci, Mark, ” Bassey, Bassey, Lata Tondon, Organizations: Nigeria CNN —, GWR, CNN Locations: Lagos, Nigeria, Indian
LAGOS, June 10 (Reuters) - Nigeria's suspended central bank Governor Godwin Emefiele has been detained and is being held in custody for investigative reasons, the police's Department of State Services (DSS) said on Saturday. The country's new President Bola Tinubu suspended Emefiele with immediate effect on Friday, a measure the government said was linked to an ongoing probe of the governor's office and to planned reforms in the financial sector. "The Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons," the DSS statement said. Under Nigerian law, the permanent removal of a central bank governor from office would require a vote by the Senate. Economic analysts expect a series of changes at the central bank, including a gradual devaluation of the naira.
Persons: Godwin Emefiele, Bola Tinubu, Tinubu, Mr Godwin Emefiele, Emefiele, Razia Khan, MacDonald Dzirutwe, Alex Richardson, Mike Harrison, Helen Popper Our Organizations: police's Department of State Services, of State Services, Central Bank of Nigeria, Senate, Standard Chartered, Thomson Locations: LAGOS, Africa, Middle East, Nigeria
Nigeria regulator says local Binance operations 'illegal'
  + stars: | 2023-06-10 | by ( ) www.reuters.com   time to read: +1 min
LAGOS, June 10 (Reuters) - Nigeria's markets regulator has ordered the world's largest cryptocurrency exchange Binance to halt its operations in the country, saying a local unit that courted Nigerian investors through a website was illegal. "Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever," the Securities and Exchange Commission (SEC) said in a statement dated June 9. The U.S. Securities and Exchange Commission this week sued Binance and Coinbase for allegedly breaching its rules. That was after Nigeria's central bank in 2021 banned banks and financial institutions from dealing in or facilitating transactions in digital currencies. Nigeria's young, tech-savvy population has eagerly adopted cryptocurrencies, for example using peer-to-peer trading offered by crypto exchanges to avoid the financial sector ban.
Persons: Binance, MacDonald Dzirutwe, Helen Popper Our Organizations: Binance, Securities and Exchange Commission, SEC, U.S . Securities, Exchange Commission, Thomson Locations: LAGOS, Binance Nigeria
“They helped me develop a sense of kinship,” Oluwamuyiwa said by phone, “and I became confident that photographing was a valid way to understand a city.” His interpretations of Lagos are gritty and fast paced, matching the environment in which he works, yet he manages to elucidate things that can only be apparent to someone looking closely. In such moments, as in “Boss and Assistant” where two men in a Danfo (the rundown yellow minibuses used for public transport) seem to be whispering to each other, or in “Hazy II,” where light pours from under the Third Mainland Bridge onto two figures standing in a canoe, the images transcend their sharp surfaces and acquire a misty luster; grittiness gives way to haziness, and the private anxieties of Lagos life become heightened. A quick history of Lagos: Indigenously peopled by the Awori, it was once a military outpost for the ancient Benin Kingdom, a slave trading port for the Portuguese, who named it after their own city, and eventually an entry point for British colonialism into Nigeria.
Persons: ” Oluwamuyiwa, Boss Locations: Lagos, haziness, Benin Kingdom, Nigeria
Nigerian parents pay school bills with recyclable waste
  + stars: | 2023-06-07 | by ( Kazeem Sanni | ) www.reuters.com   time to read: +2 min
[1/5] Fatimoh Adeosun, 48, a parent of a student of My Dream Stead, a low-cost school that accepts recyclable wastes as payment, sorts plastic waste for submission, in Ajegunle, Lagos, Nigeria May 19, 2023. My Dream Stead school, in the sprawling, impoverished Ajegunle neighbourhood where the Adeosuns live, is one of 40 low-cost schools in Nigeria's commercial capital that accept recyclable waste as payment. Tuition fees at My Dream Stead stand at $130 per year and the school is expanding into a second apartment block to accommodate its 120 pupils. Some mornings, Fatimoh and Fawas walk to the school together with bulging sacks of rubbish over their shoulders. The waste is weighed on school premises and its sales value added to Fawas' account.
Persons: Adeosun, Stead, Temilade Adelaja, Fawas Adeosun, Fatimoh, Alexander Akhigbe, Seun Sanni, Sofia Christensen, Matthew Lewis Organizations: REUTERS, Temilade, Fawas, Thomson Locations: Ajegunle, Lagos, Nigeria, Temilade Adelaja LAGOS, Nigerian, recyclables
ABUJA, Nigeria - May 29, 2023: Nigeria's President-elect Bola Ahmed Tinubu arrives to attend swearing-in ceremony at Eagle Square in the capital. Tinubu inherits a fractured society a crippled economy as he takes the reins of Africa's most populous nation. He succeeds Muhammadu Buhari, also of the All Progressives Congress (APC) party, who departs with a widely criticized economic record. Economic turmoilAs former governor of Lagos state between 1999 and 2007, Tinubu was credited with modernizing Nigeria's commercial hub and vastly expanding the regional economy. His predecessor Buhari deployed a series of protectionist economic policies and spooked international investors.
Persons: Bola Ahmed Tinubu, Tinubu, Muhammadu Buhari, Atiku Abubakar, Peter Obi of, Buhari Organizations: Nigeria's, Eagle, New, Progressives Congress, Peoples Democratic Party, Labour Party Locations: ABUJA, Nigeria, New Nigerian, Africa's, Lagos
The war in Ukraine exacerbated supply chain logjams and manufacturing issues that began with the COVID-19 pandemic. Managing foreign exchange costs is largely what is driving a pivot to African suppliers, Unilever said, even though sourcing from the continent can cost more than buying from parts of Asia. “Over 95% of the brands we sell to our (African) consumers are made in African factories,” Reginaldo Ecclissato, Unilever’s chief business operations and supply chain officer, told Reuters. Today more than two-thirds of the ingredients that go into Unilever products sold in African markets come from the continent, the company said. Where is it on the scale of Unilever’s supply chain?” he said.
Persons: Kasali, ” Kasali, , Knorr, Hellmann’s, Reginaldo, Tedd George, Nestle, , Pierre, André, Ecclissato, it’s, bouillon, Iranloye, Busari, Unilever’s Ecclissato Organizations: Reuters, Unilever, REUTERS, ” Unilever, Nestle, Danone, sorbitol Locations: ALAYIDE, Nigeria, Oyo, Africa, Ukraine, Asia, India, China, South Africa, Lagos, Oyo State
Buhari, a taciturn former military ruler, leaves Africa's biggest economy and most populous nation deeply divided. But what authorities promised would be the country's freest and fairest election yet ended in frustration for many. Buhari defends his record, saying new infrastructure such as roads, bridges and airports, and the protectionist policies have laid the foundations for future growth. Separatist and gang violence plague the southeast, and clashes between farmers and herders persist in hinterland states known as Nigeria's Middle Belt. A former Lagos state governor, Tinubu has promised to be a better steward of the economy.
SummarySummary Companies Tinubu succeeds former military leader BuhariNigeria divided after disputed electionAfrica's biggest economy faces headwindsInsecurity spread under BuhariABUJA, May 29 (Reuters) - Bola Tinubu was sworn in as Nigeria's president on Monday, facing mounting calls to improve economic and security conditions which many complain worsened under his predecessor Muhammadu Buhari. Tinubu, the former Lagos state governor and a member of Buhari's party, has promised to be a better steward of Africa's biggest economy and most populous nation. A raft of protectionist economic policies and foreign currency interventions have also spooked investors. Buhari defended his record on Sunday, saying new infrastructure such as roads, bridges and airports, and the protectionist policies have laid the foundations for future growth. Separatist and gang violence plague the southeast, and clashes between farmers and herders persist in hinterland states known as Nigeria's Middle Belt.
LAGOS, May 29 (Reuters) - Nigeria's new president Bola Tinubu faces a litany of problems, including widespread violence, double-digit inflation and industrial-scale oil theft. Tinubu says he will build on Buhari's public infrastructure programme to create jobs and remove legal limits on government spending. Tinubu says he will reduce corporate tax to attract investment and plug tax loopholes to boost revenue. Tinubu says he will set up a surveillance unit to protect the country's pipelines and attract new investors with tax incentives. Tinubu wants to recruit more soldiers and police officers, while paying and equipping them better.
[1/5] Members of Vesta Orchestra and Opera Foundation perform during a concert they organized at the Alliance Francaise de Lagos / Mike Adenuga Centre in Lagos, Nigeria May 20, 2023. It was the latest show staged by the Vesta Orchestra, founded in 2017 by violinist Rosalyn Aninyei, which has enlivened the classical music scene in Lagos by performing new works by contemporary Nigerian and African composers. The music had clear connections with the classical repertoire rooted in Europe, but the choice of the Yoruba language and the story anchored the performance in Nigeria. "I am so happy that there are events like this in Nigeria," said Kayode Oshundun, who was attending his first performance by Vesta. "My flat was actually behind the opera house and it was always a dream of mine to come home ... and discover our own classical music," she said.
In 2010, Busayo Olupona was working as a corporate finance lawyer in New York City when she began making dresses from traditional African textiles, both as a creative outlet and as a way to connect with her heritage. In 2013, she decided to turn her hobby into a business, launching Busayo, a collection of full-skirted dresses, voluminous pants and puff-sleeved tops, all produced in the country where she spent her childhood. Over the past decade, her designs have been spotted on celebrities like Lupita Nyong’o and Gwyneth Paltrow, and picked up by luxury retailers including Neiman Marcus and Moda Operandi. When she’s home in Brownsville, Brooklyn, Olupona jumps at any opportunity to host a gathering. “Nigerians love a good party,” she says, recalling childhood memories of her parents and their friends dancing to the jùjú music by Shina Peters and King Sunny Ade, dressed up in Nigerian lace and head wraps.
Despite being Africa's biggest oil producer, Nigeria imports petrol, diesel and processed petroleum products because its refineries were run down over the years. The refinery needs a constant supply of crude but Nigeria's oil production has been declining due to oil theft, vandalism of pipelines and underinvestment. Lower production would affect state-owned oil company NNPC Ltd's ability to fulfil an agreement to supply Dangote refinery with 300,000 bpd of crude, said economist Kelvin Emmanuel, who authored a report on oil theft last year. "There are risks with supply of crude oil feedstock. Energy Aspects, however, said in the long run, the Dangote refinery could end Nigeria's gasoline deficit, reshape the Atlantic basin gasoline market and export diesel that meets European Union specifications.
Ships in the Autonomous Port of Cotonou in Benin, West Africa. Prosper Dagnitche/AFP/Getty ImagesThe stream of used cars heading to West African ports is only expected to increase with the West’s shift to electric vehicles. “It’s not like people want to drive used cars; it’s an affordability issue.”Experts say demand for used cars could explode further as the take up of electric cars in the West increases the supply of used cars to African countries. Those states also have robust port operations, making them an ideal place to ship used cars to Africa. “In terms of where Africa goes, the transition shouldn’t necessarily be from used cars to brand new combustion engines, it should be from used cars to EVs,” Ipke said.
“Obi visited Tinubu. The Labor Party Presidential candidate H.E Peter Obi visited the President Elect Tinubu. Obi denied visiting Tinubu during an interview on Arise News on May 1 (here ), time stamp 30:00. A photo said to show Peter Obi standing next to president-elect Bola Tinubu has been digitally altered. The original version does not feature Obi, who denied visiting Tinubu during an interview on May 1.
[1/5] An Igbo-Ukwu bronze, which, according to the museum, dates back to the 9th century, is displayed with other Igbo-Ukwu bronze artefacts at the Nigerian National Museum in Lagos, Nigeria, March 22,... Read moreLAGOS, May 17 (Reuters) - At the National Museum in Lagos, workers carefully remove rust and patina from Igbo-Ukwu Bronze artefacts, part of restoration work on some of Nigeria's oldest but lesser known collections. The Igbo-Ukwu, which date back to the 9th century according to the museum, were discovered in 1939 in southeastern Anambra state, part of the region inhabited by the Igbo people. Their restoration comes at a time when there is uncertainty about the return of thousands of the more famous Benin Bronzes from museums and collectors abroad. At the museum in Lagos, curator Omotayo Adeboye said she considered the Igbo-Ukwu "masterpieces of creativity and indigenous craftsmanship." Reporting by Angela Ukomadu, writing by MacDonald Dzirutwe, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
[1/6] Nigerian Chef Hilda Bassey, 27, attempts to break the Guinness World Record for the longest cooking time by an individual, in Lagos, Nigeria May 15, 2023. REUTERS/Temilade AdelajaLAGOS, May 16 (Reuters) - A Nigerian chef has spent 100 hours preparing meals non-stop, aiming to set a Guinness World Record for the longest ever cooking session by an individual. Hilda Bassey, a chef in the mega city of Lagos, has captivated the country with her marathon cooking, which started on Thursday and ended on Monday night. The current longest cooking record is held by Indian chef Lata Tondon, who set a time of 87 hours and 45 minutes in 2019. Bassey's time will need to be certified by Guinness World Record officials before it can be made official.
Abuja, Nigeria CNN —Nigerian singer and saxophonist Seun Kuti, youngest son of Afrobeat legend Fela Kuti, appeared in court on Tuesday following his arrest for allegedly assaulting a police officer. A Lagos court denied a request by prosecutors to detain Kuti for 21 days, his lawyer Femi Falana told CNN. Seun Kuti Getty ImagesKnown for his music activism and outspoken criticism of the government, Kuti has been a vocal advocate against police brutality. Together with his late father’s former band, Egypt 80, which he now leads, Seun Kuti has performed for audiences worldwide, touring extensively in the United States, France, Japan, and the UK. With his brother Femi, Kuti has carried forward the Afrobeat legacy of his father who died in 1997.
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