Traders
How does high-frequency trading work on decentralized exchanges?
Following the decentralized finance (DeFi) boom of 2020, decentralized exchanges (DEXs) solidified their place in the ecosystems of both cryptocurrency and finance. Since DEXs are not as heavily regulated as centralized exchanges, users can list any token they want. With DEXs, high-frequency traders can make trades on coins before they hit major exchanges. Plus, decentralized exchanges are noncustodial, which implies that creators cannot pull an exit fraud — in theory. As such, high-frequency trading firms that used to broker unique trading transactions with cryptocurrency exchange operators have turned to decentralized exchanges to conduct business. What is high-frequency trading in crypto? High-frequency trading (HFT) is a trading method that uses complex algorithms to analyze larg...
Lagos traders send SOS to police, governor over planned market raid
Traders, shop owners and stakeholders operating under the aegis of Balogun Business Association (BBA) in Lagos have raised the alarm over a rumoured threat to raid their market by thugs loyal to a former chairman of the association. The aggrieved traders who addressed reporters yesterday at the Association Secretariat at the popular Lagos International Trade Fair Complex, Badagry Expressway, Ojo, alleged that credible intelligence at their disposal indicates that the planned invasion of their peaceful market would take place between Sunday, June 27 and Wednesday, July 28. Warning of imminent bloodshed of innocent traders should the alleged invasion happen, the Principal Stakeholders, recalling that similar attacks by the same person in the years 2005 and 2007 had led to the loss of lives, ...
Two ‘criminals’ lynched in Benue
Two suspected criminals including a motorcycle thief and an alleged cultist have been lynched in two separate incidences in Makurdi, the Benue State capital. Newsmen gathered that the suspected motorcycle thief was killed on Friday night after he allegedly snatched a commercial motorcycle from its owner around Demekpe area of the metropolis. Some eye witnesses who did not want to be named said the suspect had already succeeded in snatching the motorcycle from its owner and was speeding away with it, when the victim raised alarm which attracted other commercial motorcyclists who pursued after the alleged thief and in no time caught up with him. “As soon as they got hold of the thief around St. Augustine Catholic Church in Wadata, the Okada riders wasted no time in meting out jungle justice ...
VP Osinbajo: How grassroots planning helped our social investment programmes
One factor responsible for the impactful implementation of the Social Investment Programmes of the Buhari administration over the years is the realization that you can’t reach Nigerians if you don’t have a plan for the grassroots, according to Vice President Yemi Osinbajo, SAN. This realization then influenced the structure designed for the SIP and is largely responsible for the successes of the programme (which is now regarded as one of the biggest social welfare schemes in the continent). Prof. Osinbajo stated this Sunday in Lagos at the inauguration of the Dash Me Store, an outfit of the Dash Me Foundation founded by the immediate past Finance Minister, Mrs Kemi Adeosun. The store is established to mobilize resources for onward distribution to vulnerable people in the society via grassr...
Ex-President Obasanjo visits Chicks market in Ibadan, promises improved system
Former President Olusegun Obasanjo on Thursday assured members of the Day Old Chicks Merchant Association of Nigeria (DOCMAN) of improved system and the backing of the government. Obasanjo gave the assurance during his surprise visit to the market, Obasanjo Day Old Chicks Market, located at Oluyole Estate in Ibadan. The former president, who arrived at the market at about 9.20 a.m, was conducted round the congested market by Deacon Sunday Agusa, the General Manager of Obasanjo Farms, Ibadan. Newsmen report that there was massive turnout of traders at the market to welcome the former president amidst pomp and pageant. Obasanjo said that his attention was drawn to the existence of the market by his staff member and the use of his name to grow the market to an international standard on day-ol...
Rice millers protest ‘multiple taxation’ in Ebonyi
Rice millers in Abakaliki, Ebonyi State, have protested against what they claimed to be multiple taxation in the state’s mill market. The millers, who decried alleged extortions of traders by the management of the market, called on the state government to find a lasting solution to it. They appealed to the government to review its revenue policy and reduce the increased taxes. The protesters carried placards with different inscriptions such as, “Management should not take rice mill as their father’s business”, “We are tired of the multiple and high taxes”, “We need an elected chairman and not Caretaker Committee to move development forward in the mill.” Speaking with journalists in Abakaliki on Tuesday, Chukwuma Eniokoro, the chairman of millers in the market, said they embarked on the pea...
NNPC selects 26 firms to lift Nigeria’s crude oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. The crude term contracts, expected to run from 2021 through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company. The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August. The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria’s petrol needs as well as cover some of its diesel and jet fuel consumption. However, in the fresh crude oil...
Bauchi traffic agency to enforce ban on commercial motorcyclists – chairman
The Bauchi State Road Traffic Agency (BAROTA), on Tuesday, reiterated that activities of commercial motorcycle riders, popularly known as ‘Okada’ or ‘Achaba’, remained banned in the state. Mr Tijjani Gamawa, Chairman of the agency, who made this known at a news conference in Bauchi, stated that the agency would ensure the enforcement of the ban. Newsmen recall that the Bauchi state government, in March 2020, banned the activities of commercial motorcyclists as one of the measures to mitigate the spread of coronavirus in the state. Gamawa also explained that anybody conveying three or more people on his motorcycle and riding recklessly would be regarded as a commercial rider, and would be arrested and his motorcycle seized. Similarly, the chairman warned that any tricycle rider (Keke Napep)...
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...
Angry mob kills five ‘armed robbers’ in Abuja
Five suspected armed robbers met their Waterloo on Tuesday in Apo area of Abuja as angry traders fished them out and killed them instantly in what could best be described as jungle justice. Newsmen gathered that the heavily armed robbers robbed PoS operators and traders around Apo Mechanic Village successfully. Luck, however, ran out on them when one of the traders recognised one of them and led traders to his house. It was gathered that after the operation, the traders and residents mobilised in their numbers to the house of the robbers and killed two of them on the spot at Apo area. They later traced three others to Kabusa and Waru areas where they dragged them out and killed them too. As at the time of filling this report, the FCT Command Police Public Relations Officer, ASP Mariam Yusu...
Women lament high cost of food items, consumables in Makurdi
Residents, particularly housewives in Makurdi, the Benue state capital, have lamented the increase in prices of food items. A survey conducted by NAN on Tuesday in Makurdi showed that prices of food items have been increasing on a daily basis. Many housewives interviewed by newsmen said that feeding their families has now become very difficult as the prices of essential food items have multiplied in the past few months. Mrs Rose Onazi, a housewife, said that the sharp rise in prices of various goods, especially food and household items, has made nonsense of the amount she receives as a monthly housekeeping allowance from her husband. Onazi said that many of the items she bought a week before had increased either by 50 per cent, 100 per cent or even more. She said that the development had s...
Plateau governor installs four traditional rulers
Plateau State governor, Simon Bako Lalong, says traditional rulers need to play a greater role in enhancing the security of their domains and the entire nation. Governor Lalong stated this while installing two second class chiefs in Wase local government area of Plateau State. The monarchs are Chief Lot Nden, Ponzhi Kadarko Chiefdom and Alhaji Muhammad Asi, Aku-Jukun of Mavo Chiefdom. While presenting the staff of office to the two traditional rulers after they took the oath of allegiance, Governor Lalong said the restoration of the two chiefdoms was in fulfilment of his campaign promise and the desire to meet the yearnings of the people in the spirit of equity and justice. He says any community leader or traditional ruler who is unable to assist security agencies towards arresting crimina...
