Nigeria is responsible for 33.8% of the revenue of foreign airlines trapped in countries around the world. Nigeria and others owed $2.2 billion to airlines, said spokesperson of the International Air Transport Association (IATA) Katherine Kaczynska in March 2023. Under the watch of the outgoing President Muhammadu Buhari, the revenue of foreign airlines which they … Read more
As the legal fireworks continue at the Presidential Election Petitions Tribunal in Abuja against the victory of Asiwaju Bola Ahmed Tinubu in the February 25, 2023 Presidential election, it’s certainly incontestable that the former Lagos State governor will be sworn in as Nigeria’s president on May 29, 2023, signals from Aso Villa are enough indicators. While he warms … Read more
Who Is a Foreign Exchange Trader? A foreign exchange trader also known as a forex trader buys and sells foreign currencies to make a profit. For instance, an FX trader may take advantage of the inconsistency in the economic policies of a country to make gains. How Foreign Exchange Traders Work Inconsistent economic policies mostly … Read more
There is an update on foreign exchange purchases for Personal Travel Allowance (PTA), Business Travel Allowance (BTA), and payment of foreign medical bills majorly under the Form A FX application. Initially, the processing time for Form A was within four weeks or a month, but the same application will now take at least 120 days … Read more
There are no better ways to describe convenience when sending money to Ghana from the United Kingdom and the recipient gets a credit alert within hours. Why the Ghanaian population in the UK matters The growth of the Ghanaian population in the UK is an opportunity for remittance firms not only to make a profit … Read more
Until the Central Bank of Nigeria (CBN) restricted the operations of some International Money Transfer Operators (IMTOs) on December 17, 2020, it was easy for Nigerians to send money from the United Kingdom to Nigeria. That has now changed, according to a report by Reuters. It’s more tedious to make remittances from the UK to … Read more
Following the pressure on the Nigerian currency, we asked the large language model ChatGPT about the future of the Naira against the US Dollar. ChatGPT responded like an experienced financial expert, stating that it is difficult to predict the future of Naira against the US Dollar. At the time of publication, the official exchange rate … Read more
Since the beginning of this year, the US dollar (USD) has been constantly increasing in strength and has even been able to rub shoulders with the Euro in value for the first time in so many years. To the US, a strong USD is a blessing, but an economic problem for countries that depend on imports, especially … Read more
If you are planning on traveling abroad for business, tourism, or for research, there are several things you must put in place to have a smooth trip. However, one of the prominent things that must be settled has to do with doing a currency exchange, since you have to spend the currency of that country … Read more
It would have been the craziest thought if anyone ever mentioned in 2015 that a US dollar would be NGN700 when converted to Nigerian Naira in the next seven years. But it has even gone beyond that rate. It is an embarrassing reality today that $1 has crossed NGN800, so where do you see USD … Read more