Finance
Top 10 Largest Banks by Market Capitalisation Revealed
The world’s largest banks by market capitalisation exemplify the dynamic nature of the global banking sector, with top positions held by institutions from...
CBN increases customs exchange rate for the umpteenth time in less than a month
Not up to a week after reducing the Customs Exchange rate, the Central Bank of Nigeria (CBN) has once again hiked the rate...
FairMoney Moves to Acquire Umba, Strengthening its Foothold in African Fintech
FairMoney, a digital bank headquartered in Paris with roots in Lagos, is reportedly in talks to acquire Umba, a credit-led digital bank operating...
Tinubunomics: Nigerian Foreign Exchange Market Heading to ₦2000/$1
Amid a 29.9% inflation rate, the Nigerian Foreign Exchange market (NFEM) on Monday recorded a new low of naira to dollar rate at...
Unlike the Naira, Zambia’s currency appreciates to 21 Kwacha/USD
Zambia’s kwacha has experienced an impressive winning streak, marking its longest rally in nearly a year. The kwacha strengthened by 17.7% against the...
Atiku Propose Solutions to Foreign Exchange Crisis, Says Tinubu’s FX Policies Lack Proper Plans
Atiku Abubakar, the 2023 presidential candidate of the People’s Democratic Party (PDP), has criticised Bola Tinubu’s handling of Nigeria’s economic challenges, particularly the...
CBN Ban Cash Acquisition for Personal, Business Travel Allowance
On Wednesday, the Central Bank of Nigeria, CBN, issued a circular informing all authorised bank dealers and the general public of its decision...
Amid Economic Hardship, House of Rep Moves to Stop Sports Betting in Nigeria
The House of Representatives has taken an unwavering stance on sports betting as a result of mounting concerns over its detrimental effects on...
Carbon Completes Acquisition of Vella Finance to Enhance SME Financial Services
Digital financial service provider Carbon has finalised the acquisition of Vella Finance, a Nigerian fintech company focused on small and medium-sized enterprises (SMEs)....
Germany Becomes World’s Third-Largest Economy, as Japan Slips into Recession
Germany has overtaken Japan as the world’s third-largest economy, following Japan’s unexpected slip into recession. Japan’s economy contracted by 0.4 per cent in...
Nigeria’s Inflation Not Looking Good – NBS 2024 Report Shows
Despite being Africa’s largest economy, Nigeria’s National Bureau of Statistics (NBS) released the inflation report for January 2024 on Thursday, showing a 0.98%...
Naira Hits Record Low of N1,600 Against Dollar
This morning, the Nigerian naira plummeted to an unprecedented low of N1,600 against the US dollar, marking a distressing milestone for the country’s...