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Ndoma
Huge Win For Anti-Corruption War As EFCC Recovers $20m Crypto Loot
~1.9 mins read
Abuja - The Economic and Financial Crimes Commission (EFCC) on Tuesday, June 15, disclosed that it has recovered about $20m worth of cryptocurrency from internet fraudsters,Daily Nigerian reports.
Abdulrasheed Bawa, the chairman of the commission who made the disclosure while speaking on Channels Television breakfast show, Sunrise Daily, said the loot had been saved in the EFCC’s e-wallet.
The chairman, Economic and Financial Crimes Commission, Abdulrasheed Bawa

Abdulrasheed Bawa, the chairman of EFCC said the anti-graft agency has recovered about $20m worth of cryptocurrency loot. Photo credit: @officialEFCC

Bawa explained that the ban on cryptocurrency by the Central Bank of Nigeria (CBN) assisted in limiting avenues through which criminals launder the proceeds of their crimes in the country, The Punch added.
New survey shows Nigerians don't want CBN's digital currency

CBN clamps down on cryptocurrencies

About four months ago, CBN declared that cryptocurrency won't be allowed as either payment or investment option in Nigeria.
Though the apex bank labelled crypto as a currency used for illegal activities, CBN governor Godwin Emefiele, however, hinted the financial regulator is considering allowing Nigeriansopenly trade cryptocurrency.
Back in February, CBN ordered banks and other financial institutions to identify persons and entities operating cryptocurrency exchanges and close all such accounts.

Former CBN deputy governor says cryptocurrency remains a risk

The former deputy governor of the CBN, Kingsley Moghalu, said the losses recorded in cryptocurrency is like every other financial asset.
Moghalu said cryptocurrency is always a risk, and the decline being experienced in the crypto market is not unusual as shares in the capital markets also share the same fate.
According to Moghalu, the decline in the digital asset might be the best signal for interested investors to buy - although he stated that he wasn't giving investment advice.
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Ndoma
Dangote Cement Share Drops As Investors Lose ?280.61b In Hours Of Sell Off
~2.2 mins read
Dangote Cement Share Drops As Investors Lose ₦280.61b In Hours Of Sell Off

Sell off at the stock market on Thursday was not in favour of some investors as there was a loss of over two hundred and eighty billion Naira in just eight hours of trading.

Records show that stockholders lost a total of ₦280.61 billion from their total investment value, which fell from ₦25.07 trillion.
This is even as Dangote Cement share fall off value from ₦284.90kobo to ₦260.60kobo per share after losing ₦24.30kobo during trading.
Naija News understands that the loss represents a 1.11 per cent dip in the market capitalisation, knocking it down to ₦24.79 trillion at the end of Thursday’s trading.
The All-Share Index moved in the same direction, losing 520.76 basis points as it headed down the hills on Thursday.
This caused the ASI to close at 46,009.23 index points, in contrast to Wednesday’s 46,529.99 points.
From statistics, the investors had exchanged ₦2.76 billion to trade ₦279.44 million shares in 4,582 deals, against Wednesday’s 328.99 million shares traded in 4,219 deals worth ₦4.81 billion.
Guinness ended the Thursday session leading the top five advancers with ₦4.25kobo gain in its share, which rose to ₦46.75kobo per share from ₦42.50kobo.
Meanwhile, International Breweries share increased in value, gaining ₦0.50kobo to end trading with ₦5.50kobo from ₦5 per share.
Ecobank share was up ₦1.05 to move from ₦10.90kobo to ₦11.95kobo per share. For Prestige, its share was up by 9.52 per cent to move from ₦0.42kobo to ₦0.46kobo per share.
Unilever gained N0.95kobo per cent as the share ended trading with N14 from N13.05 per share.
Naija News understands that the losers table was led by NEM, after losing ₦0.30kobo from its share which declined from ₦3.50kobo to ₦3.20kobo per share.
AIICO share dropped ₦5 to end trading at ₦0.76kobo from ₦0.80kobo per share. Ardoca lost ₦0.65kobo to end trading with ₦12.45kobo from ₦13.10kobo per share.
Multiverse completed the list after shedding 4.76 percent from its market price to drop from N0.21kobo to N0.20kobo per share.
For Thursday trading, the top trading equities are UPDC REIT, which reported an exchange of 46.35 million shares worth ₦181.87 million.
Courtville on its side traded 36.08 million valued at ₦21.32 million. Transcorp followed with 16.88 million shares valued at ₦18.24 million.
GTCO sold 16.04 million shares worth ₦409.65 million, while Multiverse traded 10.73 million valued at ₦2.20 million.

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