The pressure on the Naira remains unsolved as it crashed yet again to $/N970 against the US dollar at the unofficial market on Tuesday, September 19, 2023. It is the latest record low for the Nigerian currency after it exchanged for $/N965 at the parallel market a day earlier. Some of the operators of the […]
Naira Crashes To $/N970 at Parallel Market Read More »
The benefits of cryptocurrency on an economy include enhancing financial inclusion, being more cost-efficient for transactions and driving economic growth among others. This post explores the positive side of Bitcoin and other Crypto assets in our lives and how it can boost economic growth. The debate around Cryptocurrency Some analysts who criticized the popularity of
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Out of 23 Educationally Less Developed States (ELDS) in Nigeria, 19 states from the Northern region fall under the list while only four states are found in the Southern part of the country. What is Educationally Less Developed States Policy About? The policy was formulated with the aim of granting special preference to candidates from some parts of Nigeria who
23 Educationally Less Developed States in Nigeria (ELDS) Read More »
In 2021, exports from Italy to the rest of the world were valued at $597 Billion USD, making the country ranked No. 7 in terms of exports among 226 countries. Italy also imported goods and services worth $570 Billion USD , according to The Observatory Economic Complexity (OEC). But this article focuses on Italy’s top
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The core reasons why a country might redenominate are to fight high inflation, to simplify accounting, for political reasons, to boost investor’s confidence, to enhance pegging, and to show that a form of monetary reform. In 2007, Ghana redenominated its currency due to inflation. In 2009, the Zimbabwean Dollar was rebased due to hyperinflation. It
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The Naira, on Wednesday, crashed to N950 to a dollar at the parallel market as the country battles the issue of foreign exchange (FX) scarcity. The figure represents a depreciation of N25 or 2.04% compared to the N925 it reported exactly a week ago (September 6) The operators of the parallel market and currency traders, Bureau De Change operators (BDCs), attributed the depreciation
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Important components of an executive summary are business name, location, mission statement, a brief description of products or services, a summary of company objectives and goals, financials, growth potential, and funding request (if you’re seeking investors or loans). What Is An Executive Summary? In every professional business plan, there must be a prefix or a part
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What is a Beekeeping Business? Also known as apiculture, beekeeping refers to the maintenance of bee colonies, usually in hives, by humans. Some people might keep bees for personal use, but when this practice is done on a commercial scale for the purpose of making a profit, it becomes a beekeeping business. If you are
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Meaning of multiple exchange rate systems Multiple exchange rate systems refer to systems where a country maintains more than one official exchange rate for its currency. How it works In a multiple exchange rate setup, the apex bank may set different rates for different types of transactions or for different types of goods and services.
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What is the Unification of Exchange Rates? Unification of exchange rate refers to the process through which a country that has multiple exchange rates for its currency consolidates them into a single rate. Unifying the exchange rate seeks to simplify and streamline foreign exchange systems, and it has economic, financial, and sometimes political implications. Nigeria, for
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