Nigerian banks are sufficiently well capitalised to absorb the impact of the 40 per cent effective devaluation of the Naira against the US dollar, Fitch Ratings stated in a recent release.
Nigeria is allowing its struggling currency, the naira, to trade freely in a move to tackle the financial crisis in Africa's most populous nation. Financial blogger Feyi Fawehinmi looks at how it will affect people's lives.
Bitcoin exchange NairaEx debuts their platform in Nigeria today. NairaEx is a simple to use platform, designed for new Bitcoin users, although experienced users will enjoy the frictionless experience as well.
Naira on Monday sustained stability against the dollar, closing at N199.05k/$ at the interbank foreign exchange as dealers and analysts await the decision of the Monetary Policy Committee (MPC) today.
In Nigerian culture, failure is often not an option. From education to employment, there is a general fear of failure, especially when it comes to risk-taking, which is one of the fundamental aspects of entrepreneurship. But across the Atlantic Ocean in Silicon Valley, failure is almost encouraged.
Working with businesses in Nigeria has provided me with a unique opportunity to think about marketing from a different perspective. I’ve picked up quite a few insights and learned a lot along the way.Most Nigerian businesses that I work with believe that you have to spend big bucks to market your business. This is not true! There are plenty of cost affective marketing tactics that you can put in place that won’t blow your budget.