Nigeria has reportedly renewed a currency swap deal worth $2 billion with China in a bid to strengthen bilateral trade and investment between both countries. As reported by Bloomberg, the renewal of the currency swap deal of $2 billion (15 billion yuan)...
Nigeria, Africa’s largest oil producer and the continent’s most populous nation, owes much of its economic profile to crude oil. Since the discovery of oil in Oloibiri in 1956, petroleum has become the lifeblood of Nigeria’s economy, accounting for over 80%...
Nigeria’s decision to redesign its currency, the Naira, sparked significant debate, economic disruptions, and lessons that remain relevant as the country seeks to stabilize its financial system. The Central Bank of Nigeria (CBN) announced the redesign in late 2022, aiming to...
Nigeria, often referred to as the “Giant of Africa,” is at the forefront of a fintech revolution that is reshaping financial services and driving unprecedented levels of financial inclusion. With over 200 million people, a rapidly growing digital-savvy youth population, and...
In October 2021, Nigeria made historical past through changing into the primary African country to introduce a central financial institution virtual forex (CBDC), the eNaira. Designed as a virtual illustration of the country’s fiat forex, the eNaira stands on the crossroads...
