Meet Jamila Bio Ibrahim, New Minister of Youth and Daughter of Ex-Minister

A 37-year-old Dr. Jamila Bio Ibrahim is not a new name for those who have been following the activities of the New Partnership for Africa’s Development (NEPAD) in Nigeria since 2019. She was confirmed as a Federal Minister of Youth on Wednesday, October 4, 2023, by The Senate. This article covers everything you might not know about … Read more

Top 20 Products Italy Export the Most

In 2021, exports from Italy to the rest of the world were valued at $597 Billion USD, making the country ranked No. 7 in terms of exports among 226 countries. Italy also imported goods and services worth $570 Billion USD , according to The Observatory Economic Complexity (OEC). But this article focuses on Italy’s top … Read more

7 Reasons Why A Country May Redenominate Its Currency

The core reasons why a country might redenominate are to fight high inflation, to simplify accounting, for political reasons, to boost investor’s confidence, to enhance pegging, and to show that a form of monetary reform. In 2007, Ghana redenominated its currency due to inflation. In 2009, the Zimbabwean Dollar was rebased due to hyperinflation. It … Read more

Naira Crashes to N950 to USD at Parallel Market as FX Scarcity Persist

The Naira, on Wednesday, crashed to N950 to a dollar at the parallel market as the country battles the issue of foreign exchange (FX) scarcity. The figure represents a depreciation of N25 or 2.04% compared to the N925 it reported exactly a week ago (September 6) The operators of the parallel market and currency traders, Bureau De Change operators (BDCs), attributed the depreciation … Read more

8 Components Of An Executive Summary (With A Sample)

Important components of an executive summary are business name, location, mission statement, a brief description of products or services, a summary of company objectives and goals, financials, growth potential, and funding request (if you’re seeking investors or loans). What Is An Executive Summary? In every professional business plan, there must be a prefix or a part … Read more

How Does Unification of Exchange Rate Work?

What is the Unification of Exchange Rates? Unification of exchange rate refers to the process through which a country that has multiple exchange rates for its currency consolidates them into a single rate. Unifying the exchange rate seeks to simplify and streamline foreign exchange systems, and it has economic, financial, and sometimes political implications. Nigeria, for … Read more

Is 25 per cent in FCT a Requirement To Win a Presidential Election In Nigeria?

Is 25% in FCT a must-have in a presidential election? “NO”,  a candidate in a presidential election does need to have the majority in the Federal Capital Territory (FCT) to be declared a winner of an election in Nigeria, says the Presidential Election Petition Tribunal (PEPT). PEPT gave the verdict on Wednesday, September 8, 2023, … Read more

8 Implications of Changing The Name of A Country

From administrative and logistical points to legal and branding, the implications of changing a country’s name are numerous. This article will explore the cost of renaming a country. Background In invitations sent to World leaders on the occasion of G20 summit, the dinner invitation letter read, “The President of Bharat” raising speculations that India’s move … Read more

Can the Naira Ever Be Equivalent to The US Dollar?

The Current State of Affairs of USD/NG Dollar to Naira exchange rate at the Importers’ and Exporters’ window closed at $/N747.87 on Monday, September 4, 2023, while it closed at $/N912 at the black market (the unofficial market), the same day. The Background to Dollar to Naira Rate 40 years ago (1983), $1 = N0.724, … Read more

Naira Could Fall to N1,500 – Sanusi

former Emir of Kano, Muhammadu Lamido Sanusi II

A former Emir of Kano, Muhammadu Sanusi II, has warned that the US Dollar to Naira could fall to N1,500, “if the CBN printed more naira” the way it did during the administration of former President Muhammadu Buhari. Sanusi, who berated how Buhari’s government managed the economy, said experts’ advice was ignored while it borrowed about NGN30 … Read more