-
We review and provide information about a lot of loan apps here. With the economic situation in Nigeria, most people turn to these loan apps to meet their immediate financial needs. And most of these loan apps do provide quick cash that can be repaid when you get your next paycheck. But with the proliferation of these loan apps, it has created an avenue for fraudsters to prey on unsuspecting borrowers. One of such apps…
-
Have you ever wondered what will happen to your bank account if you leave it for a long period without performing any transaction on it? Luckily, most banks in Nigeria will debit the account with a maintenance fee or send interests that way the account stays active even when the owner has not personally performed any transaction. However, if for some reason your bank account has been declared inactive or dormant, here is how to…
-
Nigeria’s apex bank, the Central Bank of Nigeria CBN has increased the country’s interest rates thrice in a row, first from 11.5% to 13% and then to 14% and now to 15.5%, one of the most aggressive rate hikes in years. The CBN claims the move is to stymy the country’s inflation rate which rose to 20.52% in August 2022, from 19.64% in July, one of the worst in decades and it is unrelenting. In addition, the CBN…
-
Islamic banking is a type of financial system which can be generally summarized as non-interest banking. Conventional banks make a large chunk of their money from giving loans to customers for a specified period and charging interest on it when it is time to pay back. In Islamic banking, on the other hand, there are no interests on loans, and profits or losses are shared between the bank and the customer at an agreed-upon rate.…
-
African countries, especially those in sub-Saharan Africa, are some of the world’s poorest countries today. For most people, this seems like an unexplainable paradox because these countries are also some of the wealthiest in terms of natural resources on the planet. DR Congo is arguably the most natural resource rich country on the planet, the country is endowed with exceptional natural resources, including minerals such as cobalt and copper, hydropower potential, significant arable land, immense…