24

Nov

Nigeria’s Growth Rate Has Been Revised By The World Bank to 2.7 Percent In 2021 And 2.8 Percent In 2022

The World Bank has upped Nigeria’s economic growth predictions for 2021 and 2022 to 2.7% and 2.8%, respectively. The Bank made the announcement in the most recent edition of its Nigeria Development Update on Tuesday. The World Bank anticipated 1.8 percent growth in 2021 and 2.1 percent growth in 2022 in the June 2021 edition of the NDU. The World Bank, on the other hand, expects an upbeat assessment of the Nigerian economy in the next edition. According to the new data, the Nigerian economy is recovering faster than projected. “The Nigerian economy has recovered at a faster-than-expected pace in […]

23

Nov

The Central Bank of Nigeria (CBN) And Payment System Operators Are Working To Accelerate The Use Of e-Naira

The Central Bank of Nigeria (CBN), payment service providers (PSPs), and other financial technology (fintech) stakeholders gathered in Lagos Wednesday to discuss ways to promote e-Naira use. At the conclusion of the discussion, the parties agreed to collaborate in order to accelerate the adoption of the central bank’s digital money (CBDC). Many stakeholders believe that the adoption rate is slow. According to data from the apex bank, 17,000 transactions totaling over N62 million had been processed, with the average transaction costing approximately N3, 800. The International Monetary Fund (IMF) noted last week that the CBDC promises to increase remittances to[…]

23

Nov

The Securities and Exchange Commission (SEC) calls for financial literacy to protect investors as it observes World Investor Week

During World Investor Week (WIW) 2021, the Securities and Exchange Commission (SEC) has called for financial literacy to protect investors. This was said by the regulator when they rang the bell of the Nigerian Exchange Group’s digital closing gong platform on Monday to commemorate World Investor Week (WIW) 2021. Olu Bolumole, divisional head, listings business, NGX, stated that the stock exchange used the platform to highlight Nigeria’s financial inclusion ambitions, stating that it was at the top of the exchange’s priority. “NGX is pleased to join the Nigerian capital market’s apex regulator, the SEC, and all securities exchanges in Nigeria[…]