Despite the recent troubles caused by FTX’s bankruptcy in the crypto space, cryptos like bitcoin remain a great investment opportunity in Nigeria to protect your money from the devaluation of the naira in the long term. Because cryptos are priced in USD, you can rest assured that the value of your investments will not depreciate over time, unlike other naira-based investments. What is Bitcoin? Bitcoin was the first and most popular cryptocurrency ever created. It…
Swiftkash loan app is a Nigerian online lender that uses machine learning to predict borrower’s behavior and instantly evaluate loan applications. It provides collateral free online loans all processed within minutes of application. With just your BVN and an ID card, you can get a cash limit of NGN 5,000 to NGN 600,000sent to your bank account within minutes. You do need to have a good credit score, and a good SMS banking record on your…
The Central Bank of Nigeria, CBN is often regarded as the lender of last resort. It regulates and licenses the activities of all other financial institutions in Nigeria as well as set the country’s monetary policies. The CBN is a government institution with all its functions enshrined in the constitution. To fully understand what the CBN is, it is important to understand what it isn’t. Unlike most financial institutions that are profit driven, the apex…
Cash App is a mobile payment service that allows you to send and receive money on your smartphone. The was developed by Square Inc, and has been in operation since 2011. The app is primarily available in the US and the UK and has over 36 million active users in 2021 alone. How To Open A Cash App In Nigeria? Cash App is not available to Nigerian citizens, the app is primarily available to UK…
The Nigerian government has revealed the criteria for obtaining a loan from the Development Bank of Nigeria (DBN), which they say only small and medium scale companies with less than 250 employees are eligible for. This was disclosed by DBN’s managing director, Mr. Tony Okpanachi, in a meeting with the Senate ad hoc committee investigating uneven disbursement of its loans. They also noted that their lending criteria are similar to those set by the Central Bank of Nigeria.…