August 29, 2023
Black Tax refers to the financial support that professionals and income earners, in general, are expected to give to their extended families and sometimes even their communities. This can be a significant financial burden, especially for young workers and entrepreneurs who are just starting to establish themselves. Here’s a guide on how to deal … Continue reading How to Effectively Manage Black Tax as an Income Earner in Nigeria
August 24, 2023
Running a business is an exhilarating journey, but it also comes with its share of challenges, including the unexpected financial crisis. When financial storm clouds gather, it’s crucial to approach the situation with a clear mind and a proactive spirit. In this piece, we’ll dive into five effective ways to steer your business through … Continue reading 5 Strategies to Overcome Financial Crisis in Your Business
August 23, 2023
Your business urgently needs funding for its current operations. But you don’t want to go for a regular loan because it’ll take a while to secure that—and time isn’t on your side. You also can’t sell enough of your goods to raise the money you require; there’s not enough time for this either. What … Continue reading Top 10 Invoice Discounting Finance Providers in Nigeria
August 18, 2023
Dr Elizabeth Kings-Wali, drawing from over 18 years of profound banking expertise, emerges as a dynamic and achievement-oriented banker. A skilled leader, she has played a pivotal role in the formation of cross-functional teams and the cultivation of invaluable high-net-worth client relationships, which have proven instrumental in fueling continual corporate growth and elevated performance. … Continue reading Meet The Boss: Dr. Elizabeth Kings-Wali
August 8, 2023
Here, we’ll highlight 6 techniques your company can employ to manage cash during tough economic times
July 8, 2023
The traditional property financing landscape has long been dominated by banks and other financial institutions. However, the emergence of financial technology (fintech) innovations has disrupted this sector, offering new avenues for property financing and democratizing investment opportunities. One area where fintech has made a significant impact is property financing and crowdfunding. In this article, … Continue reading Transforming Property Financing and Crowdfunding
July 7, 2023
The advent of digital technology has transformed various industries, including banking. In Nigeria, digital banking is rapidly gaining traction, offering convenience, accessibility, and innovation to customers. This essay explores the potential of digital banking in Nigeria, highlighting its benefits, challenges, and strategies needed to unlock its full potential. Read more about FinTech Accessible Banking … Continue reading Unlocking the Potential of Digital Banking in Nigeria
July 6, 2023
In today’s digital era, big data analytics has emerged as a powerful tool for transforming financial services. Nigerian FinTech companies are well-positioned to harness the potential of big data analytics to drive innovation, enhance customer experiences, and improve decision-making. This essay explores how FinTechs in Nigeria can effectively leverage the power of big data … Continue reading The Power of Big Data Analytics for Financial Services in Nigeria
July 3, 2023
In recent times, Nigerians have had to cope with increasing inflation. This is a challenge for businesses. As prices have risen, customers have become more cautious with their spending, leading to decreased sales and customer patronage. But this doesn’t have to be the case for your enterprise. There are a number of proactive strategies … Continue reading How to Maintain High Customer Patronage Despite Surging Inflation
July 1, 2023
Earlier in June, the Central Bank of Nigeria announced that it was doing away with the long-standing fixed exchange rates for the naira. In a disclosure that grabbed headlines nationwide, the apex bank said that it would now float the local currency, i.e. allow market forces (demand and supply) to determine the rates for … Continue reading How to Protect Your Business from the Naira Devaluation
June 30, 2023
Inflation, an economic phenomenon characterized by rising prices and a decrease in purchasing power, can significantly impact individuals’ financial well-being. During times of inflation, it becomes crucial to adopt smart and strategic spending habits to stretch your money further. This essay explores effective strategies for spending money wisely in the midst of an inflation … Continue reading Navigating Inflation: Strategies for Spending Money Wisely
June 30, 2023
The Central Bank of Nigeria recently introduced new rules for due diligence and Know Your Customer processes. In a circular dated June 20, it said that financial institutions in the country are expected to comply with the guidelines when verifying the identities and financial transactions that their customers have with them. They are also … Continue reading How the New CBN Customer Due Diligence Regulations Will Affect You
June 13, 2023
In a financial landscape that’s as turbulent as ours, individuals and investors alike are continually seeking avenues to preserve their wealth. One such method gaining popularity is land banking, a strategic approach that involves acquiring and holding onto parcels of undeveloped land for long-term investment purposes. This article explores the concept of land banking … Continue reading How to Preserve Your Wealth with Land Banking
May 5, 2023
Netflix has become one of the most popular entertainment platforms in the world, but did you know that it can also help improve your financial literacy? Here are eight Netflix movies that can teach valuable lessons about money management and financial literacy. Read more about Entertainment The Big Short (2015) The Big Short is … Continue reading 8 Netflix Movies that will improve your Financial Literacy
April 30, 2023
The future of regulated crowdfunding in Nigeria holds great potential as an alternative financing option for businesses, startups, and social projects. Crowdfunding has gained momentum globally, and Nigeria has also witnessed the emergence of crowdfunding platforms regulated by the Securities and Exchange Commission (SEC) since 2016. In this analysis, we will highlight key points … Continue reading The Future of Regulated Crowdfunding in Nigeria
April 6, 2023
Developing innovative insurance premium financing models for Nigerian consumers is essential to increase insurance uptake and improve financial inclusion. Insurance premium financing is the process of providing loans or credit to individuals or businesses to pay for insurance premiums. This model can help individuals and businesses spread the cost of insurance premiums over time, … Continue reading Innovative Insurance Premium Financing Models for Nigerian Consumers
April 2, 2023
The fintech industry has seen significant growth in recent years, with startups disrupting traditional banking and finance services by offering innovative solutions to manage personal finances. One of the key drivers of this growth is the rise of artificial intelligence (AI), which has enabled fintech companies to provide personalized and intelligent financial services to … Continue reading Developing AI-Enabled Personal Finance Management Tools
March 13, 2023
On Tuesday, March 7, the Central Bank of Nigeria released operational guidelines for Open Banking in Nigeria. The new rules were written up to enable banks and third-party firms to share customer data with each other, subject to customers’ consent. Musa Jimoh, Director of the Payments System Department at the apex bank, explained this … Continue reading A Summary of the CBN’s New Operational Guidelines for Open Banking
February 16, 2023
On Thursday morning, Nigeria’s President, Muhammadu Buhari, revealed in a national broadcast that: “I have given approval to the CBN that the old ₦200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, ₦500, and ₦1000 banknotes for 60 days … Continue reading Old N200 Note Remains Legal until April 10, 2023
January 27, 2023
Nigeria’s central bank, the Central Bank of Nigeria (CBN), has launched a national domestic card scheme called AfriGo. The scheme was announced in October 2022 at the Bankers’ Committee and aims to drive financial inclusion and control card financial data within Nigeria. The CBN governor, Godwin Emefiele, stated that this move will also serve … Continue reading Nigeria’s Central Bank Launches AfriGo
January 19, 2023
In every institution, school fee management is the pivotal task of the finance department. They are saddled with the responsibility of collecting the fees accurately and keeping an impeccable record of all the collections. Read more about Tech The payment receipt serves as proof of payment for both the institution and the parents/guardians. Unfortunately, … Continue reading 5 Enhancements in the Fee Management System
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January 13, 2023
Startup funding refers to the process of raising capital from investors, typically in the form of equity or debt, to fund the growth and expansion of a new business venture. However, at the heart of startup funding is the finance department of the startup. Read more about Business The finance department plays a vital … Continue reading Startup Funding: The Key Roles Of The Finance Department
January 11, 2023
VFD Microfinance bank is one of Nigeria’s leading digital banks. Physically headquartered in Lagos, it serves hundreds of thousands of customers across Nigeria, especially in the country’s major cities. It offers a range of products and sub-services that are similar to what traditional brick-and-mortar banks provide. These include bank accounts for individuals, SMEs, and … Continue reading Brands We Love: VFD Microfinance Bank
January 6, 2023
Ideally, entrepreneurs should set up a bank account for their business, separate from their personal account. This is the first (and perhaps the most important) step towards keeping their individual and corporate finances in different silos—which in turn makes it easier for them to manage business funds. Read more about Business But the process … Continue reading How to Open a Business Bank Account in Nigeria
December 27, 2022
Nigeria is facing a debt crisis due to several factors, including low oil prices, economic mismanagement, and corruption. The country’s debt-to-GDP ratio has reached an unsustainable level, and the government is struggling to meet its debt obligations. In order to recover from this crisis, the Nigerian government will need to implement a combination of … Continue reading How Can Nigeria Recover From Its Debt Crisis?
December 13, 2022
It’s the season to be merry—and one in which shopping goes into overdrive. When Christmas comes around, a sizeable portion of the public makes its way to malls and markets to purchase stuff that’ll glitter, impress, and fill bellies. This translates to a lot of money spent. It also means that most people wind … Continue reading 7 Tips to Manage Your Finances This Christmas
December 9, 2022
Ngozi Okonjo Iweala, Director of the World Trade Organization (WTO) has won the “African Female Leader of the Year” award from African Leadership Magazine (ALM). Read more about Finance According to ALM’s announcement, the category was part of the “11th African Leadership of the Year Award – 2022”. The African Leadership Person of the … Continue reading Okonjo-iweala Wins ALM’s ‘African Female Leader of the Year Award
December 9, 2022
On the 6th of December, the Central Bank of Nigeria (CBN) announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000 respectively per week. Read more about Finance Several experts and observers have … Continue reading The Impact of the New CBN Withdrawal Policy
December 9, 2022
The Central Bank of Nigeria (CBN) has announced a new policy that requires deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000, respectively, per week. Read more about Finance According to a new memo to banks issued … Continue reading CBN Releases New Policies on Cash Withdrawal
December 8, 2022
The Central Bank of Nigeria (CBN) has introduced new limits on cash withdrawals over-the-counter, as well as for Automated Teller Machines (ATM) and Point of Sale (PoS). This was disclosed by the CBN in a circular made public on Tuesday. Read more about Finance The statement, signed by Haruna Mustapha, the CBN’s Director of … Continue reading CBN Imposes ₦100,000 And ₦500,000 Limit on Cash Withdrawals
