Dangote is now worth $27.8B following the full operation of his refinery — Bloomberg Billionaires Index
Now that his long-awaited oil refinery in Nigeria is finally running, Aliko Dangote, Africa’s richest…
Inflation rate in Nigeria increases by 0.55% to 32.7% in a month
The National Bureau of Statistics (NBS) has published data showing higher transportation costs and food…
New tax bills mandate finance workers to have tax id to operate bank accounts.
The federal government has proposed a new law that will require individuals in banking, insurance,…
Startup investors are more interested in detailed performance report — Wimbart Survey
The recent survey from Wimbart highlights how investors and startup founders in Africa are focusing…
Nigeria government begins Naira-for-crude sales with dangote refinery
Wale Edun, Minister of Finance, reveals that the government has officially started selling crude oil…
Posted inCrypto Economy NEWS Stablecoins
Chainalysis Report: 43% of Sub-Saharan Africa Turns to Stablecoins for Remittance
Like an inverse proportion, Nigeria and Ethiopia are suffering a decrease in the value of…
Zimbabwe’s Gold-Backed ZiG Faces Continued Decline Following Currency Devaluation
The Central Bank of Zimbabwe allowed their gold-backed currency, ZiG, to lose about 43% of…
Posted inEconomy NAIRA RATE NEWS
Naira Gains 2.77% at the Foreign Exchange Market, Weakening at the Parallel Market— DiutoX
In September 2024, the Naira showed some positive signs in the official market, but the…
Bank of Ghana Launches Gold Coin to Discourage Hoarding of Dollars
The Bank of Ghana has initiated and introduced a gold coin for the purpose of…
The value of cashless transactions surges by 12% to N89.5T — NIBSS
After a slight dip in June, the rate of electronic transactions in Nigeria bounced back,…
The MENA Region Contributes 7.5% to Global Crypto Transaction Volume
Cryptocurrency is on the rise in the Middle East and North Africa (MENA), even though…
Posted inBlockchain Economy NEWS Technology
Morocco Turns to AI, Distributed Ledger Technology to Achieve the Digital 2030 Strategy Goal
Morocco finally unveiled its “Digital 2030” strategy on the 25th of September. The strategy was…
PBOC to Release $140B Stimulus Package into Circulation
The People's Bank of China, China's central bank, has introduced a stimulus package geared towards…
CBN Raises Interest Rate by 50bps, Sparking Outcry from Student Loan Borrowers.
The Central Bank of Nigeria (CBN) raised its Monetary Policy Rate (MPR) by 50 basis…
Governance Concerns Trigger Sell-Off in Nigerian Bonds Despite Strong Yields
According to the Second-Quarter 2024 Report of the National Pension Commission (PenCom), Nigerian bonds faced…
Posted inCyber Security Economy NEWS
CBN to Bring Back Cybersecurity Levy
As part of its guidelines for the 2024-2025 fiscal year, the CBN has restated that…
Nigeria’s $1.5B Target for Halal Economic Strategy
The Nigerian government is setting up a plan to position the country as a leader…
Posted inCrypto Economy NEWS Regulations
Understanding the US Fed Rate Cut and Its Effects on the Nigerian Naira and the Crypto Market.
Following the U.S. Federal Reserve’s monetary policy arm, the Federal Open Market Committee (FOMC) meeting…
Posted inEconomy NEWS Stablecoins
New Report: Nigeria and Others Top in CBDC Global Adoption
About 134 countries, constituting 98% of the representing 98% of global GDP, are currently exploring…
Nigerian CPI Report Indicates Gradual Decrease In Inflation
The Consumer Price Index (CPI) report published by the National Bureau of Statistics (NBS) highlights…
Posted inEconomy NAIRA RATE NEWS Stocks
Naira Rates: Nigeria Foreign Reserve Hits $36.87B Following the Sale of Domestic Dollar Bond
Nigeria’s foreign exchange (FX) reserves increased by $621.2M in 10 days following the recent sale…
ECOWAS Suspends Single Currency Plans Sighting Political Challenges
After years of planning and setbacks, the Economic Community of West African States (ECOWAS) has…
Nigerian Banks to Deduct N50 on Transfer Inflows Above N10,000
In compliance with the instructions of the Federal Inland Revenue Service (FIRS), fintech establishments have…
Bank of Uganda Cuts Interest Rate by 0.25%
For the very first time in history, the Bank of Uganda reduced its key rate,…
“Naira For Crude” will reduce the need for the US dollar.
The renowned Nigerian billionaire businessman Aliko Dangote praised the “Naira for Crude” initiative introduced by…