Busola Jeje

A recent report from the Nigeria Inter-Bank Settlement System (NIBSS) show that the number of fraud attempts in digital banking in 9M 20 grew by 186% yoy, to 46,126 cases. The alarming rise in fraud attempts coincides with the Covid-induced shift to...

The Central Bank of Nigeria (CBN) recently banned cryptocurrencies, dealing a blow to the operations of crypto exchanges in Nigeria. Considering the string of FX policies that have made the process of payments and remittances difficult for Nigerians,...

Inflows of foreign capital into Nigeria declined by 60% in 2020, from US$24bn in 2019 to US$9.7bn. Regardless, total inflows into the IEW in 2020 were much lower than in 2019 – down by 49%, to US$18bn from US$35bn – since FPI is always the major sour...

Today, the CBN’s monetary policy committee (MPC) decided unanimously to hold its policy rate at 11.5%. Until Nigeria liberalises its exchange rate regime, the problem of structurally low growth and high inflation will persist. However, the naira has...

Nigeria’s economy, like the rest of the world, has had to struggle through the impact of COVID 19. At the centre of Nigeria’s economic challenges is FX. While investors’ outstanding backlogs have dropped from US$2bn in August to US$600-800mn in Decem...

Nigeria struggled with the first Covid wave, but the death count and impact on healthcare was not as bad as seen in other parts of the world, or as expected. Okonjo Iweala, the board chair of the GAVI alliance said that COVAX has been able to secure...