Summary: Every October 1 is a day set aside to celebrate Nigeria’s independence from its British colonial masters. As usual, the president came on national television to address Nigerians. Thankfully, no Nigerian is talking about whether it was pre-recorded, Nigerians are asking: Does the celebration worth it? In this analysis, we’re dissecting the 61st Independence … Read more
No one takes China’s cryptocurrency ban seriously anymore. In less than 10 years, the country has a history of five bans. It doesn’t look like its September 24 decision was the final because there are some platforms that enable transactions with little or no restrictions. Unlike 2013 when bitcoin experienced a massive tumble after authorities … Read more
One of the cardinal reasons why peer-to-peer exchange (P2P) came into place is go give everyone the freedom to buy and sell cryptocurrency by removing the limitation that might have been put place by the government authorities. As if the brain behind P2P had seen the future or possibly what might come from the government, … Read more
The ban on cryptocurrency by the Central Bank of Nigeria (CBN) on February 5, 2021, gave millions of Nigerians the push to further explore the financial possibilities of digital currencies. Although cryptocurrency which is backed by blockchain technology has been in existence since 2009, when the unknown Satoshi Nakamoto claimed to have invented it, the … Read more
The gorgeous sights are not the only reason to pack your bags and move out of the city for a more peaceful environment. Living in the mountains can improve your overall well-being and provide you with access to fresh air and the beauty of nature 24/7. For an investor who wants to take time out … Read more
After the long wait, the organisers of the 2021 Gulder Ultimate Search released the names of 18 contestants who will be taken to the jungle to “fight” over the N50 Million worth of grand prize. While 16 names were unveiled in September, two more applicants Osasere Agbonile and Odudu Otu were voted in by viewers, … Read more
Any investor in the United States, Germany, and Italy among other advanced economies who wishes to their business to Africa, will most likely put Nigeria on their list despite many challenges confronting the country. Summary: Nigeria has a large and ever growing market, availability of hydrocarbon resources, and commendable FDI policy, yet poorly developed transport … Read more
On September 24,2021, eToro, a global multi-asset investment platform, announced the launching of a Decentralized Finance (DeFi) portfolio that put financial services on the blockchain. Since its founding in 2007, the innovations by the socio-crypto trading platform has been outstanding, the question we don’t always ask is: who is the brain behind the success stories of … Read more
Some years back, an investor had to locate a stockbroker, fill out forms, and wait till the end of the financial year to receive dividends which were usually delivered through the postal service. It was even more difficult to invest in foreign stock back then. Today, that has changed, FinTech has simplified foreign investments and … Read more
On August 31, the Central Bank of Nigeria (CBN) said it discovered some Nigerians who bought forex for Personal Travel Allowance (PTA ) and Business Travel Allowance (BTA) with fake visas at designated banks, a practice that could lead to the blockage of account details of such defaulters or face prosecution. The apex bank immediately … Read more
As the CBN Governor, Godwin Emefiele operated 593 foreign bank accounts, consented to the withdrawal of over $6 million from the Forex vault of the CBN, and stashed over £543 million in one of his accounts domiciled in the United Kingdom among other financial malfeasance levelled against him by the special investigator of his reign … Read more
Since the Central Bank of Nigeria came into full operation on July 1, 1959, the Director of Currency has always been male until August 30, 2018, when the energetic female banker Priscilla Ekwere Eleje broke that dominance. Eleje, a graduate of Psychology, became the first Nigerian female to become the Director of Currency at Nigeria’s … Read more
The depreciation of the Nigerian currency lately calls for worry, from N199/$1 at the time President Muhammadu Buhari and his APC-led government took over to N576/$1 at the time of publication, it would not be economically palatable for Godwin Emefiele, a successful GMD at Zenith Bank and a former finance lecturer, to leave behind a … Read more
One of the major non-oil exports that contributed largely to Nigeria’s GDP in the last 10 years is sesame seeds. Its cultivation is popular among Northern farmers in Jigawa, Benue, and more than 20 other growing states. Quick Facts: Local name: Beni-seeds Botanical Name: Sesamum Indicum 2012 output: 994,800 tonnes yearly 2020 output: 500,000 tonnes per annum … Read more
The latest forex middleweight wrestling between the Central Bank of Nigeria (CBN) and abokifx.com isn’t just dramatic but also shows how the inconsistent foreign exchange policies of Nigeria have created a system that benefited some people to the detriment of the Nigerian economy. Abokifx is a website that tracks foreign exchange rates both at the … Read more