Central Bank of Nigeria greenlights use of CBDC for international remittances
2 min read
So, the eNaira is now on a mission to shine, and it’s ready to spread its digital wings beyond local transactions. The Central Bank of Nigeria (CBN) has now approved using the eNaira for foreign remittances, making it OK for diaspora recipients while tackling the pesky dollar shortage issue. Looks like a win-win. Let’s see how it goes.
It’s Beyond Floating Naira, Nigeria Must FLOAT Industries To Stabilize Naira – Tekedia
7 min read
Tinubu’s decision to float its currency might seem like a bold move, but hold there’s more! As you might have notice, we’ve been in for a wild rollercoaster ride, and brace yourselves for skyrocketing petrol prices that’ll hit as hard as N700 per liter in the north and N610 in the south. This article makes even more argument on pushing this further, worth a look.
Nigeria’s Tinubu says needs quick US funding for energy transition
1 min read
And here comes the oil dance… again… President Bola Tinubu is out there telling the US to shell out more funding to help with our energy transition plans, all while we try to meet climate change goals. We want the money, but we also want to keep pumping that sweet, sweet crude for power. Which will win…. Will the US come to the rescue, or will we have to figure this one out ourselves?
Nigeria among top 10 countries for crypto as Africa gets 0.5% global blockchain funding
2 min read
Guess what? Nigeria is making its mark in the crypto world (you probably don’t need me to remind you of that), ranking among the top 10 countries for crypto adoption worldwide. A recent report highlights the tremendous growth of blockchain funding in Africa, with Nigeria, Kenya, and South Africa leading the way. It’s time to ride this digital revolution wave, as blockchain technology holds potential in areas like SME financing, supply chain management, and even transforming education and mobility in informal markets. While last year has been rough, you should keep an eye out to embrace the power of Web 3.0.
Solar ‘mini-grids’ light Nigeria’s way towards last-mile electricity
2 min read
This is a dive into the investment increase in solar mini-grids, driven by government regulations and support from multilateral organizations, but the sector requires “patient capital” (like EVERY sector in Nigeria) to navigate challenges and achieve long-term returns, especially in rural and northern regions with security concerns.
Nigeria’s mobile money system has a dark side even though it’s convenient: Study explores the risks
5 min read
The human-ATM-on-the-go as some risks —fraud, high costs, and poor infrastructure, but hey, nothing worth having comes without a few challenges. So, if you’re considering diving into the mobile money world, this article is worth the read on what can be different.
Moody, S&P, Fitch upgrades in sight for Nigeria on economic overhaul
3 min read
Things might just be turning for us. Moody’s, S&P, Fitch, are all looking at a possible upgrade for our beloved country, thanks to Tinubu’s early economic moves. Moody’s could even bump us up from “junk” to a more respectable rating next year. So, if you’re looking to attract foreign investment and boost your business, keep an eye on these credit ratings and get ready to ride the wave of positive change!