Accounting
USDC transfer volume hit 5X USDT’s in fallout from FTX collapse
Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX. It now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode. That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times. Both stablecoins recorded surges in transfer volumes following an infamous tweet from Binance CEO Changpeng Zhao on Nov. 6 announcing Binance would liquidate its entire FTX Token (FTT) holdings. FTX went into bankruptcy soon after. Since then, USDC has been the preferred choice for crypto users, averaging over $12.5 billion more in transfer volume per day than USDT, according to G...
Despite endless media appearances, SBF unlikely to testify on 13th
Former CEO of FTX, Sam Bankman-Fried, has signaled he’s unwilling to testify before the United States Congress until he’s “finished learning and reviewing what happened.” Bankman-Fried was responding to a Dec. 2 tweet from U.S. Representative Maxine Waters inviting him to testify in a scheduled U.S. House Committee on Financial Services hearing on Dec. 13 to discuss “what happened” at FTX. In a Dec. 4 response on Twitter, the former FTX CEO said he feels it is his “duty to appear before the committee and explain,” but only once he’s “finished learning and reviewing what happened,” adding he wasn’t “sure” whether it would happen by the 13th. Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what ...
CaseWare Africa: Transforming the Way Auditing & Accounting Professionals Work
Image sourced from Medium. CaseWare Africa – a division of Adapt IT – is the African reseller for CaseWare International – the global leader in auditing and financial reporting software deployed in over 170 countries worldwide. [embedded content] CaseWare Africa – a company with a three-decade history – powers over 20,000 users across Africa and has a customer base that includes audit and accounting firms, blue-chip enterprise organisations, government entities, and municipalities. CaseWare Africa is the undisputed leader when it comes to compliance. Our leading content providers ensure you are always compliant with the latest disclosures on ISAs, IFRS for SME’s, IFRS and IPSAS. We deliver on our compliance promise – this is our value proposition to customers. Our world-class p...
Lagos governor asks security agencies to crush criminals
Lagos State Government has tightened the noose on criminal elements, as Governor Babajide Sanwo-Olu fortifies the armoury of the State Police Command with new hardware and gadgets. One hundred and fifty units of double cabin vehicles, 30 patrol saloon cars, four high-capacity troop carriers and two anti-riot water cannon vehicles are part of the crime-fighting equipment donated to the police, yesterday, by the Lagos Government to strengthen security responses across the state. President Muhammadu Buhari took inventory and inaugurated the security equipment before Governor Sanwo-Olu handed over the gears to the Inspector-General of Police (IG), Mr. Alkali Usman, for the use of Lagos Police Command. The equipment and gadgets were procured through the Lagos State Security Trust Fund (LSSTF) –...
Governor Obaseki: No record of Indian coronavirus variant in Edo
Governor Godwin Obaseki of Edo State on Friday said there was no record of Indian COVID-19 variant in the state, as was speculated on social media. The governor stated this in Benin at a news conference to provide an update on COVID-19 response in the state. Mr Obaseki was represented by the Permanent Secretary from the state Ministry of Health, Osamwonyi Irowa. He said the federal government had on April 26, taken precautionary steps by restricting international travel from India, Brazil and Turkey to curtail COVID-19. “We as government have reached out to the Nigeria Center for Disease Control (NCDC) with regards to any Indian variant in Edo and the verified information reveals that the said sample was collected in January. “There is currently no update or report suggestive of any such o...
Police dismiss explosives in Oshodi market fire
Hours after Lagos Emergency Management Agency said its investigation showed some for of explosive or accelerant was used in the fire which gutted Oshodi Market, police has ruled out any explosive being involved in the incident. It signals a controversy over the cause of the fire, which started with an explosion on Thursday night. Lagos police spokesman Muyiwa Adejobi said police and expert investigations showed the fire was “not caused” by bombing or explosives. “The commissioner of police has debunked the rumour that the Oshodi market inferno was caused by bombing or explosives. The public is hereby urged to disregard such news or rumour,” said Adejobi. The CP visited the scene on Friday in company of Explosive Ordinance Disposal Unit (EOD) operatives to assess the scene and give their ex...
U.K. to open first LGBT+ retirement home as market grows
Britain’s first LGBT+ retirement home is set to open in mid-2021, the housing association behind the London riverside apartments said, highlighting a growing market of older people who do not want to be forced back in the closet. There is a critical need for housing for older LGBT+ people, said Anna Kear, Chief Executive of Tonic Housing, as many say it would be “terrifying” to live in a predominantly straight home where other residents did not accept them. “People say that if they get to that stage, they would rather (die by) suicide than go into a heterosexual care home or sheltered housing environment, which is just awful,” she told the Thomson Reuters Foundation. With an ageing population, the demand for specialist housing for older people is growing, with private retirement units acco...
NBS: Nigerian government, states’ debt profile rise to N32.92 trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (...
President Buhari appoints Adedeji Zacch as NSDC scribe
President Muhammadu Buhari has approved the appointment of Mr Adedeji Zacch as the Executive Secretary of National Sugar Development Council (NSDC) for an initial term of four years. Buhari made the announcement in a statement on Thursday by Mr Willie Bassey, Director of Information, office of the Secretary to the Government of the Federation. The statement said that Zacch’s appointment was in accordance with the provision of Section 5 (1) of the National Sugar Development Council (Establishment Act, 1993). Newsmen report that Zacch holds a Bachelor of Science degree in Management and Accounting and Masters degree in Accounting from the Obafemi Awolowo University, Ile-Ife, Osun. He also holds Executive Certificate in Economic Development from Harvard, Kennedy School of Government, Boston, ...
Why coronavirus will not be last pandemic – UN report
United Nations The Coronavirus (COVID-19) pandemic, the latest crisis facing the world, will not be the last until humans release their grip on nature, says a new UN report published on Tuesday. According to the report titled “The Next Frontier: Human Development and the Anthropocene,” world leaders need to take bold steps to reduce the immense pressure that is being exerted on the environment and the natural world, or humanity’s progress will stall. “Humans wield more power over the planet than ever before. Redefining issues of our time “In the wake of COVID-19, record-breaking temperatures and spiraling inequality, it is time to use that power to redefine what we mean by progress, where our carbon and consumption footprints are no longer hidden,” said Achim Steiner, the Administrator of ...
United Nations, Ethiopia reach aid pact for war-hit Tigray
Ethiopia and the United Nations reached an agreement on Wednesday to channel desperately needed humanitarian aid to a northern region where a month of war has killed, wounded and uprooted large numbers of people. The pact, announced by U.N. officials, will allow aid workers access to government-controlled areas of Tigray, where federal troops have been battling the Tigray People’s Liberation Front (TPLF) and captured the regional capital. The war is believed to have killed thousands, sent 45,000 refugees into Sudan, displaced many more within Tigray, and worsened suffering in a region where 600,000 people were already dependent on food aid even before the flare-up from Nov. 4. Aid agencies had sounded the alarm about a growing humanitarian crisis and been pressing for access, after hundred...
Holiday shopping moves online amid surging coronavirus, retailers face shaky prospects
File Photo Long lines and crowds at shopping centers have been as much a Thanksgiving tradition as the turkey dinner, but this year, things could look different. As COVID-19 numbers continue to surge, rushing to brick-and-mortar retail stores might seem not so appealing to many, and the holiday shopping season is moving online. “More and more shopping was already moving online, but COVID-19 concerns are definitely accelerating the shift to online buying,” David Reibstein, a marketing professor from Wharton School at the University of Pennsylvania, told Xinhua. The trend is evident as shown by recent data. Walmart, the nation’s largest retailer, reported that its third-quarter e-commerce sales surged 79 percent from a year ago. Amazon, the largest e-commerce retailer, reported a 37 percent ...
- 1
- 2
