Jun 1How can the cost of transportation be reduced despite the subsidy removal: Federal and State Governments, this is a call for action!Ten (10) months ago, I made a thread here standing against the ”Mafias” at Nigerian parks. These people had to be stopped as they do not seem to have any economic benefits. It can be largely argued that all public parks are being maintained by the government, not these mafias…2 min read2 min read
May 29Abuse of the CBN Ways and Means advances to the FGN: What you should know as a Nigerian and finance enthusiast.The Central Bank of Nigeria (CBN) provides “Ways and Means advances” to the Federal Government of Nigeria as a means of financing its budget deficits. Ways and means advances are short-term loans that are provided to the government to bridge temporary shortfalls in revenue. Section 38 (2) of the CBN…3 min read3 min read
May 25Key Highlights of the Nigerian Gross Domestic Product Report Q1 2023 as reported by NBSGross Domestic Product (GDP) grew by 2.31% (year-on-year) in real terms in the first quarter of 2023. This growth rate declined from 3.11% recorded in the first quarter of 2022, and 3.52% in the fourth quarter of 2022. The reduction in growth is attributed to the adverse effects of the…Nigeria2 min readNigeria2 min read
Apr 4What does the CBN Uniform Accounting Year for all Financial Institutions in Nigeria imply?Growing up, I remember my Uncle telling me about how corrupt the banking sector is. And to validate this, the 2008 global financial crisis exposed the banking system which resulted to a global recession. Precisely, I could remember my Uncle telling me of how banks window-dress their financial statements due…3 min read3 min read
Apr 1Dollar Hegemony: The fight of China and Russia for World Power.My 2 cents… The use of the US dollar as the primary currency for global transactions has been a longstanding practice, known as dollar hegemony. …USA2 min readUSA2 min read
Mar 13My thoughts on Silicon Valley Bank’s failure, the largest banking disaster since the 2008 Financial Crisis.Let us summarize in simple terms. The bank earned renown in California as the banker to private equity and venture capital firms, specialized in “tech and healthcare”. How does the banking industry operate, and what causes a bank to fail? A bank accepts cash deposits from its customers (liabilities for…Economics3 min readEconomics3 min read
Jun 29, 2021HYPER-INFLATION IN NIGERIAFeeling tasty this afternoon, I stopped by a woman shop to buy a bottle of water. Handed over a N200 note to her and she gave me N150 change. I returned N50 to her thinking it was a mistake. She said she sold her bottle of water for N50 against…Inflation1 min readInflation1 min read
