As a frontrunner in payment technology in Africa, Flutterwave has introduced its referral initiative via Send App, its cross-border remittance platform. The incorporation of Swap into Send App has enabled users to smoothly convert Nigerian Naira (NGN) into various foreign currencies, thus supporting hassle-free cross-border money transactions. Remittances are projected to be a significant driver…
President Bola Ahmed Tinubu, along with the group chief executive officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, have elucidated that the inauguration of WAGL Energy Limited’s impressive 40,000 cubic metre (CBM) Liquefied Petroleum Gas (LPG) vessel will facilitate the provision of clean energy not only to Nigeria but also to Africa and…
The Nigerian government has promised to uphold its crude oil production above a monthly average benchmark of 1.5 million barrels per day. Gbenga Komolafe, the esteemed Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, unveiled this commitment at the recent Project One Million Barrels Initiative. In July, Nigeria’s average daily crude production soared to…
The Director-General of the World Trade Organization and former Minister of Finance for Nigeria, Ngozi Okonjo-Iweala, has conveyed to President Bola Ahmed Tinubu the subsequent two critical actions he must implement for the nation’s economy. The esteemed economist emphasized that President Tinubu, along with his team, must now endeavor to foster economic growth while establishing…
First City Monument Bank Ltd. (FCMB) has joined forces with the International Finance Corporation (IFC) to launch the transformative Goldman Sachs 10,000 Women program aimed at enhancing the entrepreneurial spirit. The Goldman Sachs 10,000 Women initiative is a worldwide movement designed to stimulate economic advancement by equipping entrepreneurs across the globe with hands-on education, engaging…
The naira has further weakened against the dollar in the official foreign exchange arena for the second successive time this week. Data from the Central Bank of Nigeria revealed that the nation’s currency, the naira, settled at N1,537.09 against the dollar on Tuesday, rising from N1,535.92 registered on Monday. This indicates that the naira has…
Nonye Ayeni, the Executive Director and Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), revealed that the non-oil commodities shipped out during the initial half of 2025 were valued at $3.225 billion, reflecting a remarkable increase of 19.59 percent compared to the $2.696 billion noted for the corresponding half of 2024. Ayeni elaborated…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has underlined the crucial importance of collaboration between the bank and the Nigeria Deposit Insurance Corporation (NDIC) to alleviate risks in the financial domain and bolster depositor trust. Cardoso expressed that the CBN is counting on NDIC’s support to proactively address potential disturbances…
The Naira’s Struggle Against the Dollar: What It Means for Nigeria’s Economy It’s no surprise that this week has seen the Naira stumble once again against the ever-powerful dollar in the official foreign exchange market. On Wednesday, we watched as the Naira slipped to a troubling N1,534.44 for every dollar, marking a notable drop…
Olugbenga “GB” Agboola, the Founder and CEO of Flutterwave, stated that the achievement of effective and interoperable cross-border payments is vital for unlocking new opportunities for economic advancement in Africa. This assertion was made during an interview conducted by Kristen Scholer of the New York Stock Exchange at the recent Money20/20 Europe, which brings together…
