| Date | Title | Description |
| 17.09.2024 | Nigeria's Financial Landscape: A Tipping Point for Accountability and Growth | Nigeria stands at a crossroads. The Economic and Financial Crimes Commission (EFCC) is gearing up to prosecute banks and their top officials for financial crimes. This announcement comes amid a backdrop of a struggling economy, where foreig... |
| 16.09.2024 | Foreign companies outpace locals in tax payments to Nigeria on weak naira boost | Nigeria’s foreign exchange (FX) unification policy, implemented by the Central Bank of Nigeria (CBN) in June 2023, aimed to simplify the country’s multiple exchange rate system by consolidating it into a single market-driven rate.
The polic... |
| 10.09.2024 | EFCC to prosecute banks, top officials in Nigeria for financial crimes soon | The Economic and Financial Crimes Commission (EFCC) is poised to take legal action against top executives in Nigeria’s banking sector over allegations of financial crimes, including money laundering and fraudulent practices.
The EFCC Chairm... |
| 09.09.2024 | OyaNow’s 7-Year Testament to Nigerian Ingenuity: Inviting Next-Gen Innovators to Lead the Future | OyaNow is the leading provider of Convenience, Reliability and Quality of Service to individuals and businesses across Nigeria.
This homegrown success gears up to celebrate its 7th anniversary this September, reflecting on its achievements ... |
| 06.09.2024 | Naira ranges near N2,200/£1 mark in the black market | The local currency traded lower against the British pound sterling in the last trading session of this week. The pound was trading at N2,112.8/£1 on the unofficial market.
Price action shows that sellers are in control after the naira lost ... |
| 02.09.2024 | Debt servicing costs 64% of Nigeria’s $4.36 billion foreign payments in 2024 | Nigeria has spent $2.78 billion on servicing foreign debt in the first seven months of 2024, according to the international payment statistics of the Central Bank of Nigeria.
This amount is 64% of the total $4.36 billion official dollar pay... |
| 30.08.2024 | 70% windfall tax is ill-timed and excessively high – Nigeria Directors | The Chartered Institute of Directors Nigeria (CIoD) has raised concerns over the newly approved 70% windfall tax on profits from foreign exchange transactions by banks, calling it both ill-timed and excessively high.
The CIoD Director-Gener... |
| 27.08.2024 | Former lawmaker repays N3.18 million in student loan debt after 45 years — NELFUND | The Nigerian Education Loan Fund (NELFUND) has announced that Lanre Laoshe, a former member of the House of Representatives, Hon. Lanre Laoshe, has repaid N3.18 million in student loan debt, 45 years after initially borrowing from the gover... |
| 22.08.2024 | Naira sends mixed signals as Dollar shows some strength | The naira displayed mixed signals against the dollar in Nigerian FX markets on Thursday.
The greenback rose from seven-month lows amid some bargain hunting, though dollar gains were capped by expectations of interest rate cuts.
The naira ga... |
| 19.08.2024 | Naira Transactions: A New Dawn for Nigeria's Oil and Consumer Markets | The Nigerian economy is at a crossroads. The government’s recent decision to sell crude oil to the Dangote Refinery in naira marks a significant shift. Starting October 1, 2024, this initiative aims to stabilize fuel prices and strengthen t... |
| 19.08.2024 | FG to begin sales of crude oil to Dangote refinery in Naira from October 1 – Wale Edun | The Federal Government has announced that sales of crude oil to the Dangote Refinery in naira will begin on October 1, 2024.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known during a meeting with ... |
| 14.08.2024 | Inflation: FMCG transaction volume in Nigeria declines by 17.4% in 2024 – Report | The latest report by NielsenIQ has revealed that the Nigerian Fast-Moving Consumer Goods (FMCG) market has seen a 17.4% decline in the volume of transactions this year as Nigerians continue to battle with the high cost of goods.
The report,... |
| 07.08.2024 | Nigeria’s exchange rate appreciates for third consecutive day, closes at N1,596.52/$1 on Wednesday | The naira has appreciated again to close below N1,600/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.
According to data from the FMQD, Nigeria’s exchange rate closed at N1,596.52/$1 on the official market, which is the... |
| 06.08.2024 | CBN approves bailout for Unity Bank | The Central Bank of Nigeria (CBN) has granted approval for financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited.
This is according to a statement released by the CBN, signed by Mrs. Hakama ... |
| 05.08.2024 | Controversy as ALGON denies threatening State Finance Commissioners over FAAC allocations | The Aminu Maifata-led Incorporated Trustees of the Association of Local Governments of Nigeria (ALGON) has denied issuing a legal threat against the Forum of Commissioners for Finance of Nigeria over July allocations from the Federation Acc... |
| 02.08.2024 | Nigeria's Data Dilemma: The Key to Unlocking AI Innovation | In the digital age, data is the new oil. It fuels innovation, drives decisions, and shapes futures. Yet, in Nigeria, this precious resource remains trapped in silos. Hajiya Rakiya Shuaibu, an IT Management Consultant and former Director of ... |
| 31.07.2024 | Senate passes bill to double Ways and Means borrowing limit to 10% of FG revenues | The Senate and the House of Representatives on Wednesday passed a bill to increase the percentage of Ways and Means loans the Central Bank of Nigeria (CBN) can give to the Federal Government.
The upper chamber of the Nigerian legislature ra... |
| 27.07.2024 | Nigeria's Economic Landscape: A Balancing Act Between Debt and Growth | Nigeria stands at a crossroads. The country grapples with a complex web of economic challenges, yet it also shows signs of resilience. Recent statements from key figures in the government and the private sector reveal a narrative of cautiou... |
| 27.07.2024 | Nigerian Government must harness, consolidate data for artificial intelligence innovation – Rakiya Shuaibu | Hajiya Rakiya Shuaibu, an IT Management Consultant and former Director of ICT at the Central Bank of Nigeria, has urged the Nigerian government to harness and consolidate data for artificial intelligence (AI) innovation, emphasizing that wi... |
| 26.07.2024 | We received only $2.7 billion loan from CBN for refinery in ten years – Aliko Dangote | The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that his company secured a total of $2.7 billion in loans from the Central Bank between 2013 to 2023 to finance the refinery.
Dangote made this disclosure in... |
| 26.07.2024 | FG’s revenue to debt service ratio dropped from 97% to 68% in 2024 – Wale Edun | The Minister of Finance, Wale Edun, has said Nigeria’s revenue to debt service ratio has declined from 97% in 2023 to 68% in 2024, indicating a reduction in the debt burden of the government.
Edun made this statement during a press briefing... |
| 25.07.2024 | Nigeria: Again, Stakeholders Push for Establishment of Technology, Business Development Bank | Members of the Association of Telecommunications, Information Technology, Cable Satellite Network Operators and Allied Services Employers' of Nigeria (ATICEN), have again reminded the Governor, Central Bank of Nigeria, Dr. Olayemi Micheal C... |
| 24.07.2024 | Senate passes Finance Act amendment bill, increases banks’ windfall levy to 70% | The Nigerian senate yesterday passed the amendment bill of the 2023 Finance Act and increased the windfall levy on banks’ foreign exchange revaluation gains from 50% as proposed by the President to 70%.
The Chairman of the Senate Committee ... |
| 19.07.2024 | Manufacturers list conditions for implementation of N70k minimum wage | The Manufacturers Association of Nigeria (MAN) has asked the federal government to address the concerns raised by the organised private sector during the new minimum wage negotiation to enable them to implement the new minimum wage agreemen... |
| 12.07.2024 | Senate rejects bill seeking to monitor, supervise transactions in the FX market | The Senate on Thursday rejected a bill seeking to amend the Foreign Exchange Act of 2004 to introduce provisions for the control, monitoring, and supervision of transactions in the Foreign Exchange Market according to reports from the News ... |
| 11.07.2024 | CBN licence revocation: CAC asks 4,173 BDCs to change name or face dissolution | The Corporate Affairs Commission (CAC) has asked the 4,173 Bureau De Change companies whose licences were recently revoked by the Central Bank of Nigeria (CBN) to change their names within three months.
The Commission in a notice issued on ... |
| 04.07.2024 | FG to provide N650 billion facility to support youth-owned businesses | The Federal Government has announced a N650 billion facility to provide lower-cost short-term financing to youth-owned businesses, manufacturers, and Micro, Small, and Medium Enterprises (MSMEs) nationwide.
This initiative is part of the ec... |
| 03.07.2024 | House of Reps orders probe into N1.12 trillion Anchor Borrowers’ Program | The House of Representatives has initiated an investigation into the N1.12 trillion Anchor Borrowers Scheme, a Federal Government initiative for agricultural funding through the Central Bank of Nigeria (CBN).
The probe will also include the... |
| 02.07.2024 | No economic growth will happen unless interest rate at 30% goes down – Aliko Dangote | The President of the Dangote Group Industries Ltd, Alhaji Aliko Dangote has stated that no economic growth will happen unless the bank interest rate at 30% declines.
Alhaji Dangote stated this while delivering the first keynote address duri... |
| 02.07.2024 | Attractive U.S yields add pressure on Nigerian naira | Rising U.S. yields bolstered the dollar index while adding pressure on inflation-prone currencies like the Nigerian naira.
Overnight, the benchmark 10-year Treasury yield increased by about 14 basis points to 4.479%.
Market sentiments attri... |
| 25.06.2024 | Exchange rate drops to N1,500.79/$1, lowest level since May | The naira has weakened further against the US Dollar, falling to N1,500.79/$1 on the official market on June 25, 2024.
This marks the lowest exchange rate since May 16, 2024, when it was recorded at N1,533.99/$1.
According to the FMDQ data ... |
| 25.06.2024 | FX Crisis: Nigeria has already seen the worst of naira volatility, says Cardoso | The Governor of the Central Bank, Yemi Cardoso, stated that the country has already experienced the worst of naira volatility regarding foreign exchange.
Cardoso said this in an interview on Tuesday in London while speaking to Bloomberg TV.... |
| 25.06.2024 | Nigeria’s Central Bank permits IMTOs to sell FX on official window as naira finds stability | Nigeria’s Central Bank will allow International Money Transfer Operators (IMTOs) to sell forex on the official window as the naira maintains relative stability.
Eligible IMTOS will access the CBN window directly or through authorised dealer... |
| 24.06.2024 | Exchange rate falls to lowest in 5 weeks as it closes in on N1,500/$1 | The exchange rate between the naira and the dollar fell to a six-week low on Monday, closing at N1,490.2/$1, just N10 shy of hitting N1,500/$1.
This is according to official data from the FMDQ, where currencies are traded officially. The ex... |
| 27.05.2024 | Weekly Economic Index: Nigeria’s record high interest rate, Google’s plan to connect Africa to Australia and Nigeria’s GDP Growth Slows in Q1 2024 | Here are three big stories from Africa’s business and policy landscape you (probably) didn’t miss but should keep in mind this week: Nigeria’s increases benchmark interest rate to record high 26.25%
Last week, the Central Bank of Nigeria’s ... |
| 15.05.2024 | Nigeria: 'Cybersecurity Levy to Add N1.5trn Fresh Tax Burden On Businesses, Households' | The cybersecurity level being proposed by the federal government may leave a tax burden of N1.5 trillion on businesses and households in the country, a leading accounting firm Kreston Pedabo has said.
Senior Partner at Kreston Pedabo, Killi... |
| 15.05.2024 | Nigeria: Cyber Charge, Taxation and Minimum Wage | In the last couple of weeks, two issues have dominated discussion about Tinubu's economy: the imposition of a cyber security charge on Nigerian bank customers by the Central Bank of Nigeria (CBN) and the demand by organized labour through t... |
| 14.05.2024 | Nigeria: Cybersecurity Levy - Matters Arising | The report that President Bola Tinubu has now ordered the Central Bank of Nigeria (CBN) to suspend the implementation of the proposed Cybersecurity Levy must come to many Nigerians as some sort of relief, but before we deal with the sense o... |
| 13.05.2024 | Nigeria: Cybersecurity Levy Law Hurriedly Passed - - Ndume Commends Tinubu On Suspension | The Chief Whip of the Senate, Senator Ali Ndume, has commended President Bola Tinubu for suspending the 0.5% cybercrime levy that was earlier announced by the Central Bank of Nigeria, CBN.
He said the president's move does not come as a sur... |
| 13.05.2024 | Nigeria: Presidency - Tinubu Suspends Cybersecurity Levy to Prevent Overburdening Nigerians | Deji Elumoye, Chuks Okocha, Michael Olugbode, Emmanuel Addeh and Sunday Aborisade in Abuja
President Bola Ahmed Tinubu, at the weekend, directed suspension of the implementation of the cybersecurity levy, as provided for in the Cybersecurit... |
| 10.05.2024 | Nigeria: Senate Panel Defends 0.5 Percent Cybercrime Levy | The Senate Committee on National Security and Intelligence said the levy is not meant to punish Nigerians but to protect the national security and the economy.
Chairman of the Senate Committee on National Security and Intelligence, Shehu Bu... |
| 09.05.2024 | Nigeria: Speaker Overrules Member Calling for Suspension of Cybersecurity Levy | The Speaker of the House of Representatives, Abbas Tajudeen, yesterday stepped down a motion calling for the suspension of the cybersecurity levy, which has sparked widespread dissatisfaction.
Daily Trust reports that since the Central Bank... |
| 08.04.2024 | First Bank Holdings to raise ₦300bn capital amid CBN’s banking reforms | First Bank Holdings will raise additional capital of ₦300 billion ($231 million) at a shareholders meeting scheduled later this month, as banks scramble to meet the Central Bank of Nigeria’s plans for a recapitalisation drive.
According to ... |
| 01.04.2024 | Weekly Economic Index: The Naira’s best in 5 years, CBN increases minimum capital, and Cellulant’s exit | Here are three big stories from Africa’s business and policy landscape you (probably) didn’t miss but should keep in mind this week: Naira makes a dramatic recovery in March
The Nigerian Naira defied expectations and surged against the US d... |
| 30.03.2024 | Aella Rebrands to Aella Microfinance Bank, Pledges Enhanced Financial Solutions for Nigerians | Aella, a leading provider of credit and financial solutions in Nigeria, proudly announces its official name change from Aella Credit to Aella Microfinance Bank. This strategic move is in line with Aella’s commitment to innovation and delive... |
| 29.03.2024 | Access Holdings to raise $1.8bn ahead of Nigerian banks’ recapitalisation | Access Holdings the parent company of Nigeria’s largest bank by asset base, Access Bank, plans to raise $1.5 billion (₦2.09 trillion) through a bond or share sale and a further $287 million (₦399.9 billion) from its shareholders via a right... |
| 25.03.2024 | Nigeria naira woes slam MTN | Africa’s biggest telecommunications operator MTN Group on Monday reported a 72.3% tumble in full-year profit as a sharp devaluation in the Nigerian naira pushed its biggest unit MTN Nigeria to a loss.
South Africa-headquartered MTN said its... |
| 21.03.2024 | Access Bank values NBK at around $100 million as it continues East Africa expansion | On Wednesday afternoon, Access Bank confirmed it had agreed to acquire the National Bank of Kenya (NBK) after unconfirmed reports had teased the transaction for weeks. One of the big questions about the transaction—which is still subject to... |
| 13.03.2024 | Online scam: “No Go Fall Maga, Confam Am Again” Bankers Committee Takes a Stand | If anyone is taking the statement “evolve or die” seriously, it is scammers. Every day, they are upgrading their tactics and approaches in an effort to fleece you of your hard-earned Naira. Show them that no matter how fast they are learnin... |
| 01.02.2024 | Why is the Dangote refinery importing Crude from the US? | In 2013, Aliko Dangote, a Nigerian businessman and the richest man in Africa, unveiled the first plans to build a refinery in Nigeria. He had secured about $3.3 billion in financing for the project. It was good news for Nigeria, which was A... |
| 29.12.2023 | Annual Economic Index: How did Nigeria’s economy fare in 2023? | 2023 was a year of extremes for the Nigerian economy. The economy achieved its highest stock market capitalization and a seemingly “decreased” unemployment rate. Yet, it also faced some of its lowest oil production, a record-high inflation ... |
| 28.12.2023 | CBN policies and how they affected Nigerians in 2023 | Many Nigerians would agree that 2023 was an interesting year for the Central Bank of Nigeria (CBN). It was marked by a series of challenges and controversies that affected even the most mundane activities for Nigerians. The apex bank found ... |
| 23.12.2023 | As CBN lifts ban on crypto transactions, Quidax launches free deposits & withdrawals. | In what could be described as the biggest development in the Nigerian crypto industry for 2023, the Financial Policy & Regulation Department of the Central Bank of Nigeria (CBN) has announced in the late hours of Friday, a lift on the b... |
| 26.10.2023 | Nigerian Fintech Week Day 2: How failure drives innovation in Nigerian fintech | Written by Stephen Agwaibor
In the keynote address on the second day of the Nigerian Fintech Week, the message was clear: despite challenges, failure is a “learning opportunity” in the fintech sector. The keynote speaker, ‘Deremi Atanda, MD... |
| 26.10.2023 | Credit Direct: Building a Legacy of Capital Access for Africans. | Getting a loan in Nigeria is never a stroll in the park. Loan processes are often riddled with high-interest rates and strenuous paperwork which can be a major hindrance for borrowers, making it a daunting and time-consuming endeavor. While... |
| 16.10.2023 | Why superficial measures won’t fix Nigeria’s FX conundrum | The CBN’s purported overarching goal is to bolster liquidity in the FX market and, in theory, create an enabling environment for foreign investment. However, one must question the effectiveness of such measures, as lifting the restriction o... |
| 21.09.2023 | Struggling with record inflation, Nigeria’s Central Bank postpones meeting to decide interest rates | Nigeria’s Central Bank has postponed this month’s scheduled Monetary Policy Committee (MPC) meeting that will decide the nation’s interest rates
For the first time in eight years, Nigeria’s Central Bank postponed the Monetary Policy Committ... |
| 14.08.2023 | Weekly economic index: World Bank suspends Uganda, More debt for CBN, and DSTV exits Malawi | Here are three big stories from Africa’s business and policy landscape you (probably) didn’t miss but should keep in mind this week: World Bank suspends Uganda over anti-LGBTQ law
The World Bank has suspended new loans to Uganda over its ne... |
| 20.07.2023 | Nigeria: How Nigeria's $428 Million ICT Project Is Addressing Rural Financial Inclusion | In rural communities across Nigeria, the Nigeria National Information and Communication Technology Infrastructure Backbone (NICTIB) Project drives financial inclusion due to increased broadband penetration but continued inter-bank transfer ... |
| 12.07.2023 | Exclusive: CBN approves Naira payout for diaspora remittance
TechCabal’s 2021 Year-End report
Success! | Nigeria’s Central Bank has now approved Naira payouts for diaspora remittance, ending a ban that had been in place since December 2020
In a circular dated July 10, 2023, Nigeria’s Central Bank approved the payment of the Naira to beneficiar... |
| 27.06.2023 | Nigeria's Mobile Money System Has a Dark Side Even Though It's Convenient - New Study Explores the Risks | Financial services play vital roles in supporting economic activities. In Nigeria, though, a significant number of people don't have access to essential banking services.
A 2021 World Bank report shows that only 45% of Nigerian adults have ... |
| 31.05.2023 | A last-minute increase of FG’s borrowing threshold raises concerns over rising debt
TechCabal’s 2021 Year-End report
Success! | Nigeria’s senate has raised the Ways and Means provision from 5% to 15% prompting important questions about rising debt and inflation.
Two days before the start of Bola Tinubu’s Presidency, members of the Nigerian senate held an emergency m... |
| 26.05.2023 | What is digital currency, and how does it work? | Digital currencies like cryptocurrencies and stablecoins run on blockchain technology d3sign/Getty Images
JUMP TO Section
Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.
What is digi... |
| 02.05.2023 | Nigeria and Digital Banking - a Revolution Still Waiting to Happen | At the end of 2022 the Central Bank of Nigeria launched new banknotes. At the same time it also capped withdrawal of the new banknotes. The rollout of the currency change was shambolic. But it also led people to turn to digital financial se... |
| 14.04.2023 | 500 000 долларов за биткойн. Когда? | Что формирует цену биткоина и сколько будет стоить биткоин в 2030 году?
10 комментариев
552 просмотров
Так выглядят $500 тыс. наличными
Если принять медвежьи прогнозы за риск, а бычьи принять за прибыль, то традиционный критерий риск/прибыл... |
| 10.03.2023 | Nigeria is the first African country to have open banking regulations | Nigeria has taken a bold step to become the first African country to adopt open banking regulations. This move, approved by the Central Bank of Nigeria on March 7, 2023, will set the tone for the banking industry and encourage new forms of ... |
| 01.03.2023 | The Nigerian Election And Naira Crisis Are Fueling Bitcoin Adoption | A vendor holds outlawed banknotes rejected by traders at Awgbu market in Anambra State, southeast ... [+] Nigeria, on February 17, 2023. - Nigeria has been struggling with a shortage of hard cash since the Central Bank of Nigeria (CBN) bega... |
| 07.02.2023 | No more naked protests at Nigeria’s banks over money | Central Bank of Nigeria sorts out its money issues after naked protests. Photo: Mail Online/ Twitter.
The naked protests by bank customers are likely to be something of the past after the Central Bank of Nigeria sped up the process to avail... |
| 06.02.2023 | How Carbon is leading Nigeria’s ‘Buy Now, Pay Later’ revolution
TechCabal’s 2021 Year-End report
Success! | Once upon a time, in the not-so-distant past, it was nearly impossible to get a loan in Nigeria without going through an agent or being a salaried employee. Much like it was impossible to have a retirement savings account or get a pension p... |
| 04.02.2023 | Watch: Nigerian bank customers strip naked in protest | Nigerian bank customers strip naked as a demonstration of poor service. Photo: Mail Online/ Twitter.
In a most bizarre fashion to stage a protest, Nigerian bank customers were filmed naked inside a bank after being met with unsuccessful tra... |
| 30.01.2023 | Cash crisis worsens as CBN extends deadline
TechCabal’s 2021 Year-End report
Success! | After insisting a week ago that the January 31 deadline was irreversible, Central Bank Governor Godwin Emefiele, announced the extension of the currency exchange deadline yesterday. Nigerians now have until Friday, February 10, to submit al... |
| 28.01.2023 | RiceAfrika founder Ibrahim Maigari poses agri mechanization as a productivity and gender empowerment tool in Africa | ‘Building an Africa that feeds itself’ is what RiceAfrika says it’s out to accomplish. Ibrahim Maigari its founder and CEO believes that if we’re serious about building an Africa that feeds itself, we have to invest in mechanization.
Maigar... |
| 06.01.2023 | The new naira notes rollout is off to a sloppy start | When you log on to the homepage of the Central Bank of Nigeria (CBN), a timer stares back at you, counting down to January 31st, when the current series of N200, N500, and N1000 notes will become invalid in Nigeria. But as we inch closer to... |
| 05.12.2022 | Weekly Economic Index: A crypto tax, fuel scarcity, and more layoffs | Here’s a rundown of some of the biggest stories of the week (November 28th – December 2nd).
FG to tax cryptocurrencies
Zainab Ahmed, minister of finance, budget and national planning, said there is a provision to tax cryptocurrency and othe... |
| 25.11.2022 | Crunchfish Digital Cash in CBDC evaluation with the Central Bank of Nigeria | Crunchfish Digital Cash in CBDC evaluation with the Central Bank of Nigeria
Fri, Nov 25, 2022 08:30 CET Report this content
Crunchfish and Central Bank of Nigeria have entered into a Development and Demonstration Agreement for a Proof-of-Co... |
| 21.11.2022 | FTX processed billions monthly in Africa before going bust | On November 14, Nestcoin, one of the startups leading crypto and web3 efforts in Africa, announced that it was laying off several employees. At least 30 employees across various departments were let go, while those who were left at the comp... |
| 28.10.2022 | Cashless Nigeria: How agency banking obstructs Nigeria’s cashless vision | On January 1, 2012, the Central Bank of Nigeria (CBN) implemented the cashless policy in accordance with its vision 2020. The policy, which was primarily aimed at three things: reducing the costs associated with cash handling, improving acc... |
| 25.10.2022 | How DebtRecuva is using technology to revolutionize debt management and recovery for Nigerians | In 2005, the Central Bank of Nigeria instituted the Microfinance Policy, under which microfinance banks were established, primarily to improve the economy by giving low-income earners and micro-entrepreneurs access to essential financial se... |
| 19.10.2022 | Nigerian president Muhammadu Buhari signs the Nigeria Start-up Act into law | Last May, the Nigerian presidency launched the Nigeria Startup Bill in collaboration with a group of Nigerian tech leaders and several government bodies to govern how startups and regulatory bodies operate and collaborate in the multi-billi... |
| 14.10.2022 | How to buy cryptocurrency in Nigeria | For a couple of years, cryptocurrency has been a hot topic in Nigeria. Even if you’ve not been keeping up with trends, you’ve most likely heard someone talking about it. If you’re considering investing in cryptocurrency in Nigeria, here’s a... |
| 26.09.2022 | How surging inflation is impacting Lagos housing market | --> -->
In the last 12 months, Nigerians have referred to the economic situation as very daunting, especially for new renters in Lagos. With inflation surging over 20% in August 2022, the economic climate has not been very favourable ... |
| 08.09.2022 | Mobile money and Crypto -What will the future of Africa look like? | Africa could well be the next big frontier for cryptocurrencies. Many crypto owners are already residing in Africa. The success of mobile money in Africa could be why this is possible. Many users are already comfortable using digital paymen... |
| 07.09.2022 | NowNow raises $13M seed, plans to scale its ecosystem of financial products across Africa | In 2011, the Nigerian government launched a financial inclusion initiative and set a target to include 80% of the country’s adult population. Although only a target of 64% was met by the end of the decade, one positive from the exercise is ... |
| 22.08.2022 | Weekly Economic Index: Ghana’s Cedi drops to become the world’s second worst-performing currency | According to a currency performance ranking by Bloomberg, Ghana’s cedi dropped 1.1 per cent to trade at 9 Gh cedi/$1. The fall of the currency is due to demand for forex as it overtook supplies during a period when high debts and low invest... |
| 26.07.2022 | Cryptocurrencies Are Gaining Ground Across Africa. That’s Both Good News And Bad | Bitcoin. Image by Liam Ortiz from Pixabay |
| 25.07.2022 | Africa: Cryptocurrencies Are Gaining Ground Across Africa. That's Both Good News and Bad | Cryptocurrencies have become popular in African and other developing countries. That's according to a policy brief released recently by UNCTAD, a United Nations agency. Significant proportions of Kenya (8.5%), South Africa (7.1%) and Nigeri... |
| 25.07.2022 | Good news and bad news: Cryptocurrencies gaining ground across Africa | Good news and bad news: Cryptocurrencies gaining ground across Africa: Image: Adobe stock
Cryptocurrencies have become popular in African and other developing countries. That’s according to a policy brief released recently by UNCTAD, a Unit... |
| 13.06.2022 | CBN increases minimum bid for Non-Interest Asset-Backed Securities from N1million to N100million | --> -->
The Central Bank of Nigeria has increased the minimum bid for non-interest asset-backed securities to N100,000,000 from N1,000,000 seen in the exposure draft it issued in 2020.
This was revealed in a CBN circular signed by Ang... |
| 08.06.2022 | Nigeria: How Nanotechnology Can Revive Nigeria's Textile Industry | Nigeria's cotton production has fallen steeply in recent years. It once supported the largest textile industry in Africa. The fall is due to weak demand for cotton and to poor yields resulting from planting low-quality cottonseeds. For thes... |
| 23.05.2022 | The CBN wants to share your information | Share this article:
Bonjour,
It’s another week, but this one smells like salary week. 😍 Ah, I love this week already, don’t you? Are you grinning or smiling? I’m writing this with a sheepish grin because money makes me happy. 😁
This week, e... |
| 03.05.2022 | Your data or your life? | Share this article:
Hello there,
Did you know Margaret Thatcher? Born on October 13, 1925, she was the only British Prime Minister in the twentieth century to win three consecutive terms.
Significantly, she accelerated the evolution of the ... |
| 03.05.2022 | The biggest African tech moves from April | Several important moves were made across Africa’s tech ecosystem in April.
From MTN’s PSB license approval and Airtel’s super-agent license in Nigeria, to Sun King’s $260 million raise in Kenya, and CAR’s crypto adoption, here are the top 1... |
| 27.04.2022 |
Is Bitcoin Legal? | As the market capitalization of the cryptocurrency market continues to climb, regulators around the world are stepping up the debate on oversight into the use and trading of digital assets.
To date, very few countries have completely outlaw... |
| 21.04.2022 | CBN confirms fire incident at its Makurdi branch | --> -->
The Central Bank of Nigeria (CBN) has responded to reports about a fire outbreak at its Makurdi, Benue State branch.
This was disclosed in a Press release signed by Osita Nwanisobi, Director, Corporate Communications of the CB... |
| 18.04.2022 | MTN’s PSB license: Game on or game over for Nigerian digital banking? | Last week, MTN Nigeria, the Nigerian arm of Africa’s largest telecom, received final approval from the Central Bank of Nigeria to operate a payment service bank.
Consequently, through its fintech arm, MoMo, MTN Nigeria can now provide virtu... |
| 07.04.2022 | ₦800m fine for touching crypto | Share this article:
It’s not uncommon for startups to fizzle out of existence even after being backed by popular VCs with millions of dollars. However, the demise of online checkout company Fast, still caught me by surprise.
After raising a... |
| 07.04.2022 | CBN extends interest rate forbearance by one more year | --> -->
The CBN has extended the interest rate forbearance it grants to borrowers of some of its intervention funds by one year. The CBN charges 9% for the loans but reduced it to 5% when the pandemic struck in 2020.
The apex bank had... |
| 05.04.2022 | Why court struck out case against CBN cashless policy | --> -->
A suit challenging the constitutionality of CBN’s cashless policy was struck out by Justice Akintayo Aluko on the grounds of incompetence, lack of proof, and absence of jurisdiction.
In the suit marked: FHC/L/CS/1730/2019, Vic... |
| 29.03.2022 | CBN issues guidelines for Credit Guarantee Schemes | --> -->
The Central Bank of Nigeria has released a guideline Credit Guarantee Schemes to solve the challenge of limited access to credit by MSMEs.
This was disclosed in a recently released circular to all banks and other financial ins... |
| 15.03.2022 | CBN introduces Bank Neutral Cash Hubs to enhance cash management efficiency | --> -->
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee has introduced cash collection centres called Bank Neutral cash hubs. This is to enable it to reduce cost and improve operational efficiency in the... |