Opeyemi Quadri 
For the first time in the history of Nigeria, the Naira may cross over N1,000 to the US dollar by the end of September, if the pressure on the Nigerian currency continues the way it has been for the past four days. On September 18, $/N closed at N965 while € and £ closed at … Read more
From dollar-denominated debt obligations, reckless minting of Naira to limited reserves to defend the naira, and persistent depreciation of the Nigerian currency are some of the economic issues ahead of Olayemi Cardoso, the new governor of the Central Bank of Nigeria. He needs to speedily address these issues to gain the confidence of local and … Read more
The Central Bank of Nigeria (CBN) has launched an online platform for the submission of applications for Microfinance Bank (MFB) operations. Called the CBN Licencing, Approval and Other Requests Portal (CBN LARP), the apex bank said on Wednesday that individuals or companies will no longer have to manually submit applications to establish microfinance banks (MFB) … Read more
How much did Nigeria spend on subsidy payments under Buhari? Nigeria spent about N16.9 trillion or $36.6 billion as a subsidy on the importation of 132.24 billion litres of Petrol into Nigeria under the Muhammadu Buhari-led government between June 2015 to June 2023. The exchange rate is based on May 16, 2023, at $/461. The exchange … Read more
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 … 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 … Read more
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 … 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 … Read more
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 … Read more
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 … Read more