The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 150 basis points, from 24.75% to 26.25%. This decision is part of ongoing efforts to achieve price stability and curb inflation. The committee also maintained the asymmetric corridor at +100 and -300 basis points, with the … Read more
The Chief Executive Officer of one of the leading cryptocurrency platforms in Nigeria, NoOnes, Ray Youssef, has revealed that peer-to-peer popularly known as P2P is probably like $500bn business in Nigeria alone. Youssef said this in an interview with Techpoint Africa on the heels of an imminent ban on cryptocurrency in the country. Speaking on … Read more
Nigeria’s inflation rate increased to 31.70 percent in February from 29.90 percent in January 2024. This amount represents a 1.80 percent increase, according to the National Bureau of Statistics’ latest CPI and inflation data, which was released on Friday. This implies that the average price level increased at a faster rate in February 2024 than … Read more
The Federal Government, FG, has asked cryptocurrency trading firm, Binance, for information on its top 100 users in Nigeria as well as all transaction history for the past six months. According to the Financial Times, the request was made to establish the negotiations between Binance and Nigeria. In the report, the Office of the National … Read more