Direct Election and Indirect Election: Difference, Advantages, and Disadvantages

Direct Election and Indirect Election InfomediaNG

What is a Direct Election? A direct election is a system whereby voters directly cast their ballots to choose the person (or party) that will represent them in a general election i.e the the persons or political party that they desire to see elected. What is an indirect election? Also known as hierarchical voting, an indirect … Read more

How To Buy Bitcoin With Credit Card

how to use credit card to buy bitcoin

Many exchanges offer the option to buy Bitcoin on the exchange platform with a credit or debit card. Connecting a credit or debit card is quick and easy, and it will take you just a few minutes to complete a transaction. In most cases, you will be charged a small fee, disclosed upfront. Once your … Read more

Obsolete Currency and Its Causes

outdated banknote 1 pound in Nigeria

What Is An Obsolete Currency? When a currency is no longer in use and can not, therefore, be used as a means of exchange by the country of origin, it is called obsolete currency. In the 1990s, my grandma showed us some currencies that were of significant value during her youthful days. She kept it … Read more

5 Basic Economic Problems of a Country

basic economic problems

There are basic economic problems every economy faces. Definitely, there will be the availability of limited resources. Human wants are insatiable that’s one of the reasons scarcity arises. Let’s assume that there are more than enough resources, the economic problem would not probably arise. But the study of economics makes us understand that there will always be … Read more

Understanding Inflation: Types, Causes and Example

Inflation and its types

What is inflation? The most popular definition of inflation is, “an increase in the average level of prices”. Specifically, inflation is a condition whereby supply persistently fails to keep pace with the expansion of demand. Simply put, inflation is a state of disequilibrium in which too much money is chasing a few goods. The opposite … Read more

Economics and Its Importance

importance of Economics

Definitions of Economics Economics is the act of creating wealth and the management of such wealth in the long term. To some people, economics is the study of scarcity. Men will have to manage the available resources within their reach or choose between the competing alternatives. It is the study of wealth for human satisfaction i.e how money … Read more

Concept of Price Floor

price floor for goods and services

Price floor is a price control mechanism employed by the government, institutions or companies on how low the price of a product or service can be. Simply put, the lowest price in the price band is called the price floor. The opposite of this economic jargon is cap price (price ceiling) which is the highest … Read more

15 Strongest Currencies in Africa Against USD Exchange Rate

african most valuable currencies

The strongest currencies in Africa in 2023 in terms of US Dollar exchange rate are Tunisian Dinar, Libyan Dinar, Moroccan Dirham, Ghanaian Cedi, Seychellois Rupee, Botswana Pula, Eritrean Nakfa, Namibian Dollar, Lesotho Loti, and Swaziland Lilangeni. In this post, we will compare currencies in Africa against the United State dollar and come up with the 15 most valuable currencies on the continent … Read more

10 Benefits of Islamic Banking To Business Growth

Benefits of Islamic Banking To Business

What is Islamic banking? Islamic banking entails banking activities that are compliant with Shariah. Also known as Islamic finance, it encompasses financial activities, particularly in the banking world, which adhere to Islamic law. This article is about the advantages of Islamic banking for business growth. Tenets of Islamic Banking The religious system forbids the payment … Read more

40 Nigerians Who Own Private Jets

owners of private jets in nigeria

There are more than 40 private jet owners among Nigeria’s super-rich, comprising businessmen and women, politicians, pastors, and A-rated musicians. And of course, extremely wealthy Nigerians prefer privacy, and one of the ways to achieve this is by flying in their private jets Top on this list includes Aliko Dangote, Femi Otedola Bola Tinubu, Pastor … Read more

Forbes’ 2024 Ranking: The 20 Wealthiest Africans

richest_africans_for_2022_according_to_forbes_list

The Chairman of Dangote Group Alhaji Aliko Dangote has again been rated as the wealthiest man in Africa, according to Forbes 2024 list. This can be attributed to the growth in Aliko Dangote’s wealth to the sterling performance of Dangote Cement on the Nigerian Exchange. And lately, the company’s had over N11 trillion market capitalization January … Read more

5 Roles of Banks In Cryptocurrency Instead of Rigid Policy

how Binance become largest cryptocurrency exchange

The rise of blockchain technology has been met with different reactions across the world, most especially from Central Banks of different jurisdictions. Most of them are not comfortable with how cryptocurrency is disrupting the banking industry. Do banks have roles to play in the crypto-financial sector? Already, leading cryptocurrencies such as bitcoin and Ethereum, have … Read more