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
Tag: Naira
The E-₦aira and you
Update: Subsequent to this post, the launch date of the E-naira was pushed to 25th October 2021 The 1st October, going forward, shall not only be the birthday of Nigeria but also of the CBN’s new digital currency, the ENaira! It came as a surprise when it was first announced back in August that the… Continue reading The E-₦aira and you
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