Nirsal Microfinance Bank (NMFB), the official bank that disburses CBN Targeted Credit Facility (TCF) on Wednesday, August 25, 2021, advised loan applicants to deactivate DND service on their mobile networks. According to the bank, which communicates with applicants of the loan via an SMS, said applicants are unable to know the status of their application … Read more
When social media giant, Facebook, announced on Wednesday, August 25, 2021, that unveiling its digital wallet, some business owners debated whether it will displace the existing payment methods. But that isn’t true. In fact, it would add more options for shoppers to widen a wide range of payment options to choose from. We monitored a … Read more
Nigerians have traded at $8,761,051BTC on two major Peer-to-Peer (P2P) platforms LocalBitcoins and Paxful even as the Central Bank of Nigeria continues to block financial institutions from facilitating all transactions involving bitcoin and other cryptocurrencies. At the time of this report, 1BTC was N25,300,491.36 on Paxful and $48,960.56 on coinmarketcap. While Helsinki-based peer-to-peer bitcoin marketplace … Read more
Would you believe it if I told you that some men’s wears you buy at a boutique between N6,000 to N8,000 are less than N3,000 on some foreign online platforms plus delivery cost? Surprisingly, you scroll past their pages on social media unconsciously every day, not knowing business opportunities are lurking. You can start making … Read more
When a small business owner takes a bold step to set up a venture, definitely their plan is to expand, grow, and possibly go international. Unfortunately, the rate of business failures across the world is disturbing and alarming in struggling economies. In the face of numerous challenges, how can small business owners avoid business failure? … Read more
The cost of registering a company in Nigeria is between N50k-N60k (for a limited liability company between N50k-N1million Share Capital). Part B, sections 18 to 54 of the Company and Allied Matters Act 2020 extensively outlines the key requirements for the formation and registration of companies in Nigeria and the roles of parties involved play. … Read more
Residents of the United Kingdom can now buy and sell cryptocurrencies starting this week, a press release by the global payment platform said Monday, August 23, 2021 The announcement is the first international expansion of PayPal’s cryptocurrencies services following the launching of the same system in the United States early this year. With over 403 million active accounts globally, the California-based … Read more
Bitcoin crossed $50,000 (N25,999,830.26) on Monday, August 23, 2021 for the first time since May. It made a significant come back rising sitting at $50,348.73 at the time of publishing this report. Live price chat monitored on coinmarketcap showed that it gained 2.44% in the last 24 hours while it made 6.86% gain in the last … Read more
Most times, small business owners are preoccupied with their daily multi-tasking activities, thereby ignoring or paying less attention to record-keeping. Of course, an SME owner isn’t a superman or woman, yet the same proprietor is the accountant, stock keeper, manager, and driver. But ignoring to keep a financial record could be detrimental to the long-term … Read more
The cost of registering an NGO in Nigeria is between NGN120,000 to NGN150K, depending on the agent that handles the registration for you. In a case where you get the time and have a perfect understanding of the process, you would spend less. If you are planning to register a Non-Governmental Organization in Nigeria, your … Read more
If you’re just starting as a real estate investor, you can’t get it right overnight. You would make mistakes. But is it really worth it to make mistakes with your life savings? This is why it is very important to do your due diligence and talk to a professional who perfectly understands the local market … Read more
There are several platforms where you can conveniently exchange gift cards for Bitcoin or your local currency. Some of them include Bidali and Crypto Voucher, among others. During the ember months, you may receive gift cards for shopping from a relative or business partner. When they send you gift cards, how do you convert them … Read more
UPDATE: Almost two years after the bank accounts of some companies and individuals were frozen, Nigeria’s apex bank on Tuesday, July 26, 2023, directed banks to vacate a post-no-debit restriction placed on the affected accounts. In a circular signed by A.M. Barau on behalf of the Central Bank of Nigeria (CBN), directed the banks to notify the concerned … Read more
To the panel of the Young Tycoon Business Competition, selecting who wins the 2021 edition worth $960,000 prize may be a tough decision as two young Nigerian students of Greensprings School, Lagos, Chioma Abone and Emmanuella Ilok, presented their wearable technology that will curb the kidnapping of students in Nigeria. The wearable device which can … Read more
Microfinance banks that trade in dollars, pound sterling, euro, and any other foreign currencies will lose their operating licence, the Central Bank of Nigeria (CBN) has threatened. The threat is a continuous move by the apex bank to sanitise the forex market which had been abused severally. In a circular warning all MFBs in Nigeria … Read more