By Sodiq Adelakun Foreign investments in Nigerian startups plummeted by 65.83 percent in 2023, causing the country to slip to fourth place in total startup investments on the continent. In a surprising turn of events, Nigeria’s startup ecosystem experienced a significant…
…Warns of economic challenges in Nigeria, South Africa, others By Sodiq Adelakun The World Bank has predicted that Nigeria’s economy will grow by 3.3 percent this year, according to its recent Global Economic Prospect (GEP) report. This projection is 0.4…
The Nigerian Naira has continued to decline, reaching over N1,000 per dollar for the second time in 2024 on the official foreign exchange market. According to data from the FMDQ Exchange, the Naira fell to 1,089.51/$ on Tuesday from 856.57/$…
The scarcity of cash in circulation has made the weekly usage of Automated Teller Machines to drop from 70 percent to 40 percent, according to a report by KPMG. The report, titled, “In Pursuit Value,” stated that the figures were…
First Bank Limited, a subsidiary of FBN Holdings, has once again achieved a significant milestone in the Nigerian Exchange (NGX) as its market capitalisation surpasses N1 trillion. This comes amidst a boom in the NGX, with the United Bank for…
By Sodiq Adelakun Despite efforts by Nigeria’s apex bank to clear outstanding foreign-currency amounts owed in forward deals, the value of the naira has continued to erode significantly. This was evident on Tuesday as the naira traded at about N1,230/$…
By Sodiq Adelakun As the deadline approaches for all bank accounts and wallets in Nigeria to have a Bank Verification Number (BVN) or National Identity Number (NIN), there is a risk that millions of accounts could be blocked. The Central…
By Sodiq Adelakun The Debt Management Office (DMO) of Nigeria has recently listed two savings bonds offered by the Federal Government for subscription. These bonds, which are the first offers in 2024, provide individuals with a unique opportunity to invest…
The founder of BudgIT, a platform focused on fiscal transparency, Seun Onigbinde has criticised the Nigerian government’s budgeting process, citing a lack of clarity, discipline, and performance-driven planning. In an interview on Saturday, Onigbinde highlighted issues with the 2023 budget,…
…As Ambode, Hamzat, Ogun First Lady, others attend Lagos Thanksgiving Service The Lagos State Governor, Mr. Babajide Sanwo-Olu has revealed that he will sign into law this week the 2024 Lagos State Appropriation bill. The Governor said this during the…
