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Nigerians banks have started sending out emails to their customers informing them that they will no longer be allowed to freely use their debit cards in countries that do not support use Chip and Pin authentication. They claim the directive is from the Central Bank. Here is an excerpt of an email received;   Dear XXXXXXXXX, […]

Jan to Dec 2015 Inflation RatesSource: NBS/Nairametrics The National Bureau of Statistics has reported that Inflation Rate for the month of December was 9.55% (9.37% in November). This is the highest since December 2012 when it was 12.98%. The highest since then was 9.54% in February 2013. According to the Bureau, the increase in the […]Read More

The year 2016 is turning out to be a really bad one for the world economy. This time, the world is suffering from shocks originating from two principal pressure points: oil firstly, and then China. Contrary to opinion, the victims of the oil price rout are not just oil producers like the OPEC nations and Russia. […]

The week ended January 15 will be remembered as one of the bloodiest on the Nigerian stock exchange as blue chip stocks lost billions in market valuation. This was a sell-off of immense proportion and the type that often takes years to actualize. The All Share Index lost a whopping 13% this week alone taking […]

The Minister of Labour and Productivity Dr.Chris Ngige has dropped what critics will consider a howler and another indication that the current government may be clueless. Here is what he was reported to have said. ” Now I think it is important to state that we should not lay off staff at this critical stage. […]

The CBN last week lifted its ban on foreign currency deposits a restriction it placed earlier in August 2015 as part of its efforts to control the demand of forex in the country. The loosening of the restriction was panacea to the obvious pain that the ban of sales of forex to BDC operators will […]

The Central Bank of Nigeria is at it again!! A recent article from Reuters, reveals that the Central Bank has now stopped its daily auction of dollars. According to the article, the CBN is stopping the sale of forex in a bid to “conserve its dwindling foreign reserves”. The article quoted the central bank’s financial markets […]Read More

One way to get to know how Nigerian businesses make money is to look at their annual report. Unfortunately, there are just under 200 companies quoted on the Nigerian stock exchange with over 5,000 more not listed anywhere. Fortunately for us, DAAR Communications Plc, a TV station is quoted and recently released its 2014 annual […]

I conducted a snap poll on twitter on who is to blame for Nigeria’s current economic problems giving voters the option of former President Goodluck Jonathan, Current President Buhari, CBN Governor Godwin Emefiele and former Coordinating Minister of the Economy Okonjo Iweala. The poll was conducted using twitter’s poll application and cannot be said to […]

Did Paul D. Clement forward golf tips to Chief Justice Roberts? Has Justice Sotomayor ever sent adorable cat pics to Donald Verrilli? It’s unlikely, but if they did, we might soon find out. That’s because a journalist from Vice News is currently suing the Department of Justice for access to any emails between the Supreme […]

Conservative politicians and voters have long questioned Barack Obama’s eligibility for the presidency, claiming the two-term president was born outside the United States. (He was born in Hawaii.) Now the tables seem to have turned for GOP presidential candidate Ted Cruz, who was born in Calgary, Alberta, Canada. A Houston, Texas lawyer has filed a […]

If your PC is still running on Windows 8, it’s time for a change. Yeah, the operating system is a hard-to-use mess, better designed for tablets than desktops, and more focused on bad apps than business. But that’s not why you need to ditch it right now. Starting this week, Windows 8 isn’t just clunky. […]Read More