CBN Shakes Up Financial Sector: 132 Microfinance Banks Stripped of Licences, See The Full List!

In what can be described as upheaval in the financial sector, Nigeria’s apex bank on Monday, May 22, 2023, released a full list of microfinance banks whose operating licences were revoked. Three finance companies and four primary mortgage banks also lost their operating licence to the Central Bank of Nigeria (CBN), bringing the number to … Read more

You May Go To ‘Jail’ for Buying US Dollar with Naira

Foreign Exchange Market Nigeria Dollar To Naira

You may spend some months or years (depending on your connection) in jail if you are caught buying US dollars with the Nigerian currency, says the apex bank of the most populous African country. The latest monetary policy became a necessity as the Naira continues to “Lu’le” (that is fall) against other global currencies while … Read more

2022 Osun State Governorship Election Results from 30 LGAs

2022 Osun State Governorship Election Results from 30 LGAs

Results from the 30 Local Government Areas in the just concluded 2022 Osun State Governorship Election showed that the election was keenly contested between Nigeria’s two major political parties: All Progressive Congress (APC) and Peoples Democratic Party (PDP). From the results from all the local government areas in the state, Ademola Adeleke of PDP won … Read more

President Touadéra Says Future Generation Will Appreciate Him for Bitcoin Adoption

President Faustin-Archange Touadéra of the Central African Republic

Amidst the volatility rocking the cryptocurrency market for the past eight weeks or more, President Faustin-Archange Touadéra of the Central African Republic (CAR) says there is no regret in choosing Bitcoin as one of the legal tenders in his country. His tweet message of hope is believed to be directed at his critics who opposed … Read more

USD/NGN Falls to NGN610 at Black Market May 20, 2022

Dollar As The Most Traded Currencies in Global Market

It’s no longer at ease with the naira as it shrinks at the black market Friday, May 20, 2022, selling at NGN610 against the United States Dollar. The latest USD/NGN exchange rate isn’t surprising because of the political tension from the parties’ primaries building up ahead of the 2023 general elections as we pointed out … Read more