Nigeria's Debt Crisis: USD Value Drops Slightly, Naira Debt Skyrockets
Nigeria's public debt increases to N134.30 trillion, with a significant jump in Naira debt, despite a slight drop in USD value, amidst economic downturn and currency devaluation.
Finance
Union Bank of Nigeria Raises Staff Salaries by 40% to Combat Rising Cost of Living
Union Bank of Nigeria increases salaries by 40% to help over 2,000 employees cope with the rising cost of living, following a similar trend among Nigerian commercial banks.
US Government Tops List of Countries with Highest Bitcoin Ownership, Holding Over $20 Billion in Assets
A new ranking reveals the top countries and governments with the highest Bitcoin ownership, with the US government holding the largest amount valued at over $20 billion.
World Bank Considers $1.65 Billion Loan for Nigeria to Address Economic Challenges
The World Bank is reviewing a $1.65 billion loan for Nigeria to support internally displaced persons, education, and nutrition enhancement, amidst the country's economic struggles.
World Bank Secures Record $100 Billion in Pledges to Support Poorest Countries
The World Bank has secured a historic $100 billion in pledges to support its International Development Association, exceeding previous funding records and aiming to provide low-interest loans and grants to the world's poorest nations.
Zambia Seeks to Rectify $80 Million Payment Error to China Amid Debt Restructuring Talks
Zambia mistakenly paid $80 million to China, now working to resolve the issue as part of debt restructuring negotiations with the Asian nation.
Zimbabwe Set to End 2024 with Africa's Highest Interest Rate at 35%
Zimbabwe's economic struggles continue as it maintains Africa's highest interest rate at 35%, with its gold-backed currency ZiG showing signs of stabilization
Top 10 African Countries with Easiest Access to US Dollars Revealed
A new report from Absa ranks the top 10 African countries with the easiest access to US dollars, highlighting the importance of foreign exchange accessibility for economic stability and growth.
Nigeria's External Reserves Plummet by $1.19 Billion in Just 3 Weeks
Nigeria's external reserves have taken a significant hit, dropping by $1.19 billion in just three weeks, with experts predicting a further decline to $36.21 billion in 2025.
