Since the Central Bank of Nigeria (CBN) announced the launch of a digital currency dubbed “eNaira” which is known as Central Bank Digital Currency (CBDC), Nigerians expressed mixed reactions to the project. While some Nigerians praised it, some berated the apex bank for coming up with such an idea as having “ban” trading of cryptocurrency … Read more
In 2015, as Nigerians prepared for a general election, the outcome of which was predicted to split Nigeria, a UK-based news magazine, The Economist, in its editorial supported the opposition candidate at the time, Major General Muhammadu Buhari, against the incumbent Goodluck Jonathan, who represented a party that had been in power for 16 years. … Read more
Tagged the pandemic year, 2020 was still rosy for 11 states in Nigeria as Foreign Investors from across the world came to put their monies in the biggest Africa’s economy. Although Foreign Direct Investment (FDI) dropped by 59.7 percent, Abuja, the Federal Capital Territory (FCT) and 10 states received inflows. Equities supplied the largest capital … Read more
The coast is now clear for former NYSC members to submit their applications for the Tertiary Institutions Entrepreneurship Scheme (TIES). The programme is a brainchild of the Central Bank of Nigeria (CBN) in pursuant to the CBN Act, 2007 to reduce unemployment among young graduates by supporting their creative and innovative ideas financially. Recalled that the governor … Read more
Nigeria has a land area of 923,768 km² with its administrative headquarters in Abuja while Lagos state remains its commercial capital since the capital was moved from the most populated state to Abuja on December 12, 1991. With the 36 states and the FCT sharing the 923,768 km² landmass, the land area of each of … Read more
Nigeria houses 36 federating states that are also interwoven by boundaries. No state lives in isolation, they are interconnected with one other. The inter-connectivity of the states which make Nigeria as one plays a significant role in the promotion of local trade and business. In one of our guides, we shared with you 15 states … Read more
There are about 364 approved international border points in Nigeria. 71.62% of land borders in Nigeria are located in the North-East and North-West, according to Nigeria’s Former Chief of Defence Staff Gen. Lucky Irabor. Takeaways: This article explores Nigerian states that share international border points with other countries. With a landmass of 923,768 km², Nigeria shares … Read more
Created on February 3, 1976, Borno State is home to 35 ethnic groups including the hospitable Kanuri people. It is the second-largest state in Nigeria in terms of landmass and houses more than 20 profitable opportunities. We’ll tell you, apart from the dangerous activities of an Islamic terrorist group, other challenges of investing in Borno. … Read more
For Nigerians who engage in international trade: importation and exportation business, access to finance could be challenging, but this has specifically been solved by Stanbic IBTC bank. Called import and export finance, the financial support is aimed at solving some of the financial constraints Nigerian importers and exporters face in their trade. 6 Benefits of … Read more
Apart from business ideas, funds are very important at the stage of implementation or for expansion, that’s when credit facility for small business owners is very important. As such, Stanbic IBTC SME loan is one of the credit facilities entrepreneurs in Nigeria can obtain to achieve their business goals. In one of our guides, we … Read more
The Corporate Affairs Commission (CAC) has laid down rules on the management of the details of company or business data. As a company, you’re expected to file a notification of any change whatsoever with the commission. The Company and Allied Matters (CAMA 2020) specifically spells out what a company should do at the end of … Read more
Micro, Small, and Medium Enterprises or MSMEs constitute approximately 96% of businesses in Nigeria. There are even more SMEs in Nigeria than the United States which has 53percent and 60percent in Europe, studies say, but access the credit facility has been one of their major challenges. That’s why the microeconomic and financial analysts have severally … Read more
When you check the price of a property in areas like Lekki, Ikoyi, Ikeja, and other top choices in Lagos, Nigeria’s commercial capital, you are likely to see NGN50million or more for a plot of land measuring 600 square meters It becomes financially challenging for a prospective buyer to own property in the aforementioned top … Read more
One of the states in the southwest which hasn’t fully explored the mineral resources it is blessed with is Osun, a state which was created on August 27, 1991, by the military administration of Gen. Ibrahim Babangida. Despite the fact that Osun is full of honey, it remained a “Civil Service” state while the state … Read more
Since the oil was first discovered in 1956 in Oloibiri, the present-day Bayelsa State, Nigeria has made several billions of US dollars from the sales of oil. Since then Nigeria has become Africa’s number one producer of oil and number six on the global ranking. In 2018, Nigeria made $32.63 billion in revenue from the sales … Read more