Finance

How the COVID-19 Pandemic Will Affect Banks in Nigeria

Recently, banks have been in the news for helping out in the battle against the coronavirus. Some have contributed isolation centers. Others have donated billions of naira for the procurement of medical equipment.  Letters bearing the signatures of Nigeria’s top

COVID-19: Should Nigeria’s Government Pay for Employees on Furlough?

The coronavirus pandemic has forced numerous businesses across the world to close shop. Some won’t be reopening after the crisis. Their workers will have to look for a new job once the present troubles subside. Other companies are riding through

DISCOS Commit to Supplying Free Electricity for Two Months

Nigeria’s Electricity Distribution Companies (DISCOS) have announced their support for proposals to provide free electricity to Nigerians. The Association of Nigerian Electricity Distributors (ANED) says its members will deliver power nationwide without any cost to consumers, for a period of

LSETF Halts Loan Repayments For SMEs And Startups In Response To COVID-19

The Lagos State Employment Trust Fund (LSETF) says it is suspending the repayment of loans provided to SMEs and startups in the state. Read mor4e about Covid- 19 Acting Executive Secretary of the LSETF, Teju Abisoye, explained that the moratorium

COVID-19: If You Are Facing A Salary Cut, Here’s How To Respond

The COVID-19 pandemic is battering businesses across the globe. Restrictions to halt its spread have caused commercial activity to shrink. Sales have fallen, revenues plunged, and numerous businesses have closed shop. Some may never reopen. Some can still make it

The CBN Is Reducing Charges on ATM Use and Bank Transfers

The Central Bank of Nigeria has announced a downward revision of a host of charges levied by banks for electronic transitions in the country. It says this move is aimed at driving financial inclusion for the millions of Nigerians underserved

How to Get Your Tax Identification Number (TIN) in Nigeria

The Tax Identification Number is a set of digits assigned by Nigeria’s tax authorities to registered taxable individuals and businesses in the country. It’s the tax agencies’ principal means of identifying registered taxpayers. In the past, Nigerians had to sign

Fintechs in Nigeria: Nairabox

The Nairabox team prefers to talk about their product as a lifestyle tool.  As a platform, it lets its users settle their everyday needs, and pay for recurring and one-off events. It’s especially popular as a sales outlet for digital

Fintechs in Nigeria: Paystack

Paystack is one of the more well-known fintechs in Nigeria. They help companies build the platforms they need to collect and receive funds from a variety of local and global payment channels. It’s a big role for any startup to

Fintechs in Nigeria: Cowrywise

Cowrywise is a digital technology tool that helps Nigerians save and invest their money. The platform is accessible via an app, on which users can select and implement a savings plan, or choose their preferred type of investment. It was

Union Bank Intervention Funds: CIFI and MAS

Central Bank of Nigeria Creative Industry Financing Initiative In a bid to improve access to long-term low-cost financing for entrepreneurs and investors in the creative and information technology (IT) sub-sectors, the Central Bank of Nigeria in collaboration with the Bankers’

Union Bank Intervention Funds: NESF and ABP

Central Bank of Nigeria Non-Oil Export Stimulation Facility (NESF) The Central Bank of Nigeria in its bid to diversify the revenue base of the Nigerian economy and to expedite the growth and development of the non-oil export sector, introduced the

Nigerian Fintech Startup Flutterwave is Worth Over $150 Million

Silicon Valley based startup incubator, Y Combinator (YC), has listed Nigeria’s Flutterwave as the most valuable African startup to have come through its accelerator program. The incubator had Flutterwave on its list of companies by valuation for the month of

Union Bank Intervention Funds: CBN RSSF & CBN CACS

Central Bank of Nigeria Real Sector Support Facility (RSSF) In a bid to unlock the potentials of the real sector and engender output growth, value added productivity, and job creation, the Central Bank of Nigeria (CBN) launched the N300 billion

5 Things Nigerians Must Know Before Investing In Financial Markets

Investing in the financial markets like Stock Market, Forex, Cryptocurrency is becoming very popular in Nigeria, as we see it as a way to make potential income. But investing in the markets may not be for everyone. Do you really

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