Following the revocation of the operating licence of Eyowo, the digital bank said transactions on its platform had been halted and could last 24 to 72 hours for the issue to be resolved. This means that Eyowo customers will be unable to send or withdraw from their account, pending the time it sorts out the … Read more
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
Nigeria goes to polls on February 25, 2023, to elect a new president that will steer the affairs of the most populous African country. Out of 18 presidential candidates that have been cleared by the Independent National Electoral Commission (INEC), one of them stands out. That person is Asiwaju Bola Ahmed Tinubu (BAT). My choice … Read more
The Central Bank of Nigeria (CBN) has extended the deposit of old naira notes from January 31 to February 17, 2023. The initial deadline was Tuesday, January 31, 2023, which resulted in a chaotic situation at money deposit banks across Nigeria. In a press release by the CBN governor Mr Godwin Emefiele said he got … Read more
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
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
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
While the bloodbath in the crypto market has led to the loss of several billions of dollars in investors’ monies, President of El Salvador Nayib Bukele certainly sounded unperturbed by the latest crypto crash and he is also advising Bitcoin investors not to be anxious about the market price. In a tweet, Bukele said: “I … Read more
Terraform Labs is not relenting in its effort to revive Terra coin (LUNA) which crashed from $64.13 to $32.00 on May 9, 2022, and dipped to further to nearly $0 in less than four days Since the LUNA crash, the coin has not recovered and more than $40 billion of investors’ monies have been wiped out of … Read more
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