The Foreign currency (FX) regime in Nigeria is a little complex – there are 3 different markets for FX all at different price points with varying means of access and availability. In this environment you need to be clear on how to get FX when you need it and thankfully despite the complexity, there are… Continue reading Form A for PTA
Tag: FX
Domiciliary accounts in Nigeria
Saving and investing in foreign currency (FX) is one of my top strategies to preserve the value of my money. If diversifying into foreign currency is good enough for Africa’s richest man then I am happy to emulate the approach that he is taking to preserve his wealth. Domiciliary accounts are relatively common in Nigeria… Continue reading Domiciliary accounts in Nigeria
CBN vs. AbokiFX
The last two or so weeks have seen the dramatic slide of the Naira vs other currencies. This is proving traumatic to many of us especially given the acceleration of the decline which has made, once again, expenses creep up even further. Additional concern has been raised by the Governor of the CBN whose behaviour… Continue reading CBN vs. AbokiFX
CBN vs. The Fintechs
On the 17th August 2021, CBN took action against 4 extremely popular Fintech companies by freezing the accounts they hold with a number of commercial and microfinance banks. CBN seems to be continuing in its ‘war’ against Fintechs and laying the blame for the terrible state of the Naira on them. This post considers whether… Continue reading CBN vs. The Fintechs