How Nigeria Started Using Naira and Kobo.

  History of the Nigerian currency  Before the west African currency board was found, Nigeria already had its own currency in the form of cowries and manilas. The board was charged of issuing currency notes in the country. This was during the time of colonial masters 1912 to 1959. Ginna Crochets * Nigerian currency notes…

History of the Fall of the Nigerian Naira!

  How its all happened and things behind it  This piece seeks to trace the history of how Nigeria’s foreign exchange management became what it is to the point where the exchange rate of the naira has become a deeply political matter. 1. President Ibrahim Babaginda’s Second-Tier Foreign Exchange Market (SFEM) In September 1986, the…

Richest States in Nigeria and How Much They Generate to the Nigerian Economy

Nigeria is an independent country with 36 states blessed with numerous natural resources. Even though crude oil has been the main source of the country riches, there are some of these wealthy states that produce them. 1. Lagos State Lagos stands first as the current richest state in the country based on internally generated revenue…

87% Of All The Poor People In Nigeria Are Found In The North

Posted by Thandiubani on Tue 11th Feb, 2020.  A new report released by the World Bank has slammed Nigeria after revealing the poverty rate in the country. The World Bank in a new report released on January 28, 2020 has revealed that the North accounted for 87 per cent of all the poor people in…

BREAKING: CBN Slashes Electronic Transfer, ATM Withdrawal Charges

On December 22, 2019.  By Babajide Komoloafe The Central Bank of Nigeria (CBN) has reviewed downward electronic transfer and ATM fees as well as card maintenance fees. The new charges were contained in the latest Guide to Charges by Banks and Other Financial Institutions just released by the CBN According to the CBN, bank customers…

Why Local Rice Costs As Much As Imported Rice – Expert Reveals

Posted by Samuel on Tue 26th Nov, 2019.  A senior rice specialist at the Africa Rice Centre has talked about why local rice costs just as much as imported rice.  Philip Idinoba of Africa Rice A senior rice specialist at the Africa Rice Centre, a pan-African rice research organization, Philip Idinoba says the reason a…

Border Closure  And Chinese Experience 

On August 20th 2019, the federal government ordered the closure of its land borders. Arguments regarding the decision over the weeks seem to suggest that it is the right decision, but, at the wrong time and in the wrong manner. It’s no longer news that over-dependency on importation has been one of the major factors…

The Politics Of The Border Closure

Posted by George on Wed 06th Nov, 2019.  Emefiele doesn’t need the nail clapping of the unconvinced. There are millions of regime apologists applauding government’s wisdom in taking the decision. Thomas Aquinas, the Italian theologian and philosopher wrote “to one who has faith, no explanation is necessary. To the one without faith, no explanation is…

Closure of Nigerian Borders (2)

On November 5, 2019.  By  Urowayino Jeremiah  IT is quite obvious that the closure of Nigeria’s land borders with neighbouring countries could have been far better handled. The slamming “with immediate effect” smacked of a typical knee-jerk military approach which has never done Nigeria any good. The Federal Government could have met with all stakeholders in…