As much as 10% of all POS transactions get declined due to one reason or the other. Typically, customers experience an automatic reversal of funds within 24 hours after a declined transaction, or at the latest, within 5-7 working days upon receiving a printed receipt. Yet, there exist exceptional cases where customers find themselves waiting…
In 2006, Oluseye Olusoga, a former investment banker at Lehman Brothers, found himself contemplating a return to Nigeria. However, he recognized the need for substantial resources to maintain the quality of life he had experienced in London. Leveraging his expertise, Olusoga began exploring opportunities to trade financial instruments in Nigeria, starting with treasury bills obtained…
Embarking on her entrepreneurial journey, Isioma faced the daunting task of starting her own clothing business without a clear roadmap. Overwhelmed and unfamiliar with marketing strategies, she possessed a vision to provide stylish thrift clothes to women amid an increasingly expensive economy. Armed with limited capital and a thrift clothes supplier, she envisioned procuring items…
Renowned author of the influential personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki, has once again voiced his strong endorsement for alternative assets such as Bitcoin, gold, and silver, citing growing concerns about the escalating threat of inflation impacting global living standards. The recent surge in the price of gold, surpassing the $2,000 per…
Hanu Fejiro, the CEO and founder of the cryptocurrency exchange platform Patricia, has recently announced a breakthrough in the resolution of the 2022 $2 million hacking incident. William Bonse, a gubernatorial candidate in Nigeria’s 2023 elections, was apprehended by the police, along with his accomplices, for their alleged involvement in the cyber attack. According to…
Malawi’s President, Lazarus Chakwera, has taken a bold step to address the economic challenges facing his country. In a move aimed at reducing public spending and alleviating the strain on the country’s economy, Chakwera has implemented a travel ban on himself and his government. This decision comes in the wake of the International Monetary Fund…
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, unveiled a comprehensive plan on Wednesday to train three million technical talents within the next four years. This ambitious initiative, if successful, could significantly contribute to President Bola Tinubu’s vision of generating one million tech jobs in the initial two years of his administration. The…
In a significant move aimed at advancing financial inclusion across the African continent, Chipper Cash, the prominent financial services company serving over five million customers in Africa and the US, has announced a strategic partnership with global payment giant Visa. This collaboration marks a significant expansion of Chipper Cash’s existing partnership with Visa, which dates…
Africa’s Global Bank, United Bank for Africa (UBA) Plc, and Saudi Export-Import Bank (Saudi EXIM) have officially announced a collaborative alliance to bolster business growth and foster economic cooperation between their regions. The Memorandum of Understanding (MoU) was signed on November 9, 2023, during the Saudi-Africa Summits in Saudi Arabia, solidifying their commitment to enhance…
Billionaire Aliko Dangote, through his multinational industrial group, Dangote Industries Limited, announced on Sunday that a significant sum of $687 million had been successfully repatriated through multiple Nigerian banks. This announcement comes just a few days after the naira exchange rate dipped below the N900 to $1 mark on peer-to-peer (P2P) platforms, including Binance, for…