Before the latest policy of the Central Bank of Nigerian on the sales dollars and other foreign currencies to Bureau de Change operators, there were individuals who submitted applications for BDC operating licence to the apex bank, they can now apply for a refund. This followed the announcement by the apex bank that no fresh … Read more
Bureaux De Change operators are not backing down despite the decision of the Central Bank of Nigeria (CBN) to stop the sales of forex to them. They stated this Thursday, July 29, 2021, in Abuja after Godwin Emefiele-led CBN declared that some of the operators are conduits for money laundering and diverted the forex meant for … Read more
The International Monetary Fund (IMF) said it is too early to make cryptocurrencies like bitcoin, ethereum, and bitcoincash among others a legal tender. For instance, BTC price broke above $50,000 for the first time in history on Tuesday, February 16, 2021, a price it couldn’t sustain due to its volatility. A report which was published … Read more
One of the hardest challenges small business owners face around the world is getting bank loans to support their startups. It’s even more difficult in Nigeria where the rate of defaulters is high. So, financial institutions are extremely cautious before granting loan requests. No one wants to go out of business. Note that there are … Read more
The Central Bank of Nigeria (CBN) took the toughest decision on July 27, 2021, stopping the sales of dollars to Bureaux De Change (BDCs) operators in the country. It cited the activities of the BDCs in the forex market as counter-productive to Nigeria’s economy. The action has raised a lot of dust because it will spark some … Read more
Some banks can be parasitic when it comes to charges: withdrawal charges, ATM card maintenance charges, and many other strange fees can be a burden on your business unless you take immediate action to find out why your account balance continues to deplete. In one of our articles, we elaborated on things you need to … Read more
Query in your CAC dashboard is a request by an official of the Corporate Affairs Commission that you need to fix an issue in your business name and company registration and re-submit the application for re-assessment. Reasons your business registration may be queried Some of the reasons your application may be rejected or queried include: … Read more
In the 1990s till late 2015, entrepreneurs who operated current accounts for their businesses paid returns on such accounts, it was called Commission on Turnover (CoT). That has changed as the Central Bank of Nigeria (CBN) replaced CoT with Account Maintenance Charges (AMC) or Account Maintenance Fee in its Revised Guide to Bank Charges that … Read more
Content creation is one of the ways to start making money by working from home. The best part is that you can choose your preferred time to work. Don’t forget that content creation has been redefined since the launch of a writing Opera hub in Nigeria where writers who create original content can earn as … Read more
Since the application for COVID-19 Targeted Credit Facility began, a lot of applicants who got loan offers have had to face the challenge of receiving their funds in their designated bank account. if you operate a tier 1 account, you won’t be able to receive funds beyond that limit. If your bank account can only … Read more
You will need a CSCS account if you want to invest or trade in shares, stocks, bonds, and other securities traded on the Nigerian capital market. What is CSCS? It means Central Securities Clearing System, which is the Central Depository for the Nigerian capital market with the responsibility for storing, clearing and settlement of securities transactions. … Read more
There are companies and individuals across the world who wish to run a partnership business with Nigerian-based companies, but the rate of online fraud is a deterrent to many of them. The dastardly act of the online scam doesn’t mean that there are no legitimate businesses in Nigeria. If you’ve found a fraudulent business, a … Read more
There are hundreds of Nigerians who have nice business ideas but are being impeded by a lack of access to financial support. And one of the coolest and cheapest ways to get capital for your business is to have access to grants or low-interest rate financing. A business-minded undergraduate student can also explore the platforms … Read more
One of the key requirements in accessing some of the ongoing CBN loans is evidence of business registration with the Corporate Affairs Commission (CAC). Unfortunately, some applicants are having a problem verifying their registration on the CAC portal. Do you know that refusal to file an annual report may lead to CAC ‘sanction’ against your … Read more
Despite crypto trading restrictions in Nigeria, you can still take a step further by earning from the comfort of your home by joining one of the best bitcoin mining pool sites. We will share with you some cloud mining platforms that allow you to use the computing power of mining equipment hosted in specialized data … Read more