Nigeria holds rates at 27% to cement inflation wins
Nigeria's central bank retained the benchmark interest rate at 27% to safeguard inflation gains. The decision rules out further rate adjustments until at least 2026.
Faced with a failing currency, this Nigerian startup found a global market for IT equipment
Francis Osifo faced challenges in sourcing a laptop for an employee in Kenya while at 54gene, leading to a two-month customs delay. After leaving 54gene, Osifo founded Rayda to provide visibility into asset management for businesses.
Nigeria nets ₦84.97 billion in six months after extending transfer levy to fintechs
Kemi Michael learned to avoid extra charges by sending ₦9,500 instead of ₦10,000 to her PoS agent. The EMTL increased government revenue by ₦84.97 billion after being extended to fintechs in December 2024.
Nigeria’s Central Bank holds rates thrice in a row
Olayemi Cardoso maintained borrowing costs at 27.50% during the third interest rate meeting. The Central Bank's decision was influenced by a recent easing in consumer prices.
Nigeria Central Bank Rolls Out New Digital Platform to Unlock $1B Monthly Remittances
CBN launched the NRBVN platform to help Nigerians abroad obtain BVNs remotely. The initiative aims to boost monthly diaspora remittances to $1 billion.
