The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 27.50 per cent, up from 27.25 per cent, as part of its strategy to address rising inflation. This decision was made during the recent meeting of the Monetary Policy Committee (MPC) of the CBN. The MPR serves as the key interest…
Rising costs for food and fuel have driven Nigeria’s inflation rate to 33.88 per cent in October 2024, an increase from the previous month’s rate of 32.70 per cent. The National Bureau of Statistics, NBS, announced this information on Friday in its report on the Consumer Price Index and Inflation for October 2024. Analyzing the…
The value of the Naira fluctuated between ₦1,690.00 and ₦1,620.00 in relation to the dollar during the Investors and Exporters (I&E) window. At the official market on Wednesday, the value of the Naira fell, trading at ₦1,681.65 to the US dollar. Naira dropped ₦10.33, according to data from the official trading platform of the FMDQ…
One of the top financial companies in Nigeria, OPay, recently introduced its innovative Large Transaction Shield feature, which aims to give customers unmatched control and security over their money. Acknowledging the growing significance of secure digital transactions, OPay has created this inventive solution to protect users against unapproved activities. Strong face recognition authentication is the…
Former President Goodluck Jonathan has addressed the allegations regarding the disappearance of over $49 billion in oil revenue from government accounts during his administration in 2014. Jonathan, in a statement made at the launch of the book titled ‘Public Policy And Agent Interests: Perspectives From The Emerging World,’ co-authored by Dr. Shamshudeen Usman, a former…
The goal of any slot machine player is to maximize their winnings. The biggest jackpots remain the primary attraction, despite the fact that playing slots is a ton of fun. To help you win big, we’ve thoroughly examined the top sweepstakes slots available. Megaways slots are a great approach to try for large payouts. Because…
The top payments technology business in Africa, Flutterwave, today announced that it has partnered with MainStreet Bank, a division of MainStreet Bancshares Inc. (Nasdaq: MNSB and MNSBP), to expand its Send App service to 49 U.S. states. Africans living abroad can send money to their relatives and friends back home more quickly, simply, and affordably…
The convergence of cryptocurrency with online gaming in recent years has given rise to a sector with significant potential that is expanding quickly. Crypto gaming is a rapidly expanding market, especially after the global epidemic sparked a renewed interest in virtual currencies and online entertainment. Crypto casinos are becoming major players in the online…
A slowed rate of economic growth results from the growing number of unbanked people in certain areas, which in turn exacerbates the poverty headcount ratio. Large numbers of unbanked people who do not yet have access to financial services present a major obstacle to Africa’s financial inclusion efforts. According to the World Bank, nearly 1.6…
CBN has no intention of defending the naira with foreign reserves. — Cardoso The value of the naira has increased in relation to the dollar in recent weeks, rising by more than 40%, from roughly ₦1,900/$ to roughly ₦1,000/$1. Yemi Cardoso, the Nigerian Central Bank Governor According to Central Bank of Nigeria (CBN)…
