Uade Ahimie, Author at Nairametrics Destination for Business news and analysis from Africa's largest economy Thu, 09 May 2024 12:00:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Uade Ahimie, Author at Nairametrics 32 32 201037849 Airtel incurs $1.7 billion in foreign exchange loss over currency devaluation in Nigeria, Malawi https://nairametrics.com/2024/05/09/airtel-incurs-1-7-billion-in-foreign-exchange-loss-over-currency-devaluation-in-nigeria-malawi/ https://nairametrics.com/2024/05/09/airtel-incurs-1-7-billion-in-foreign-exchange-loss-over-currency-devaluation-in-nigeria-malawi/#respond Thu, 09 May 2024 07:56:25 +0000 https://nairametrics.com/?p=488404 Airtel Africa, Nigeria's second largest telecoms company has reported significant financial setbacks due to currency devaluations in several of its key markets, notably Nigeria and Malawi, resulting in a staggering $1.7 billion in derivative and foreign exchange losses.

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]]> https://nairametrics.com/2024/05/09/airtel-incurs-1-7-billion-in-foreign-exchange-loss-over-currency-devaluation-in-nigeria-malawi/feed/ 0 488404 20TC: Access, UBA and Zenith, total assets exceed ‘N20 trillion, form largest banking trio in Nigeria https://nairametrics.com/2024/04/09/access-uba-and-zenith-total-assets-exceed-n20-trillion/ https://nairametrics.com/2024/04/09/access-uba-and-zenith-total-assets-exceed-n20-trillion/#respond Tue, 09 Apr 2024 13:53:59 +0000 https://nairametrics.com/?p=485354 UBA and Zenith Bank have joined Access Corporation in the N20 trillion club (20TC) in terms of total assets.

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]]> https://nairametrics.com/2024/04/09/access-uba-and-zenith-total-assets-exceed-n20-trillion/feed/ 0 485354 Nigerian Pensioners face 30% decline in net asset value when dollarized https://nairametrics.com/2023/10/23/nigerian-pensioners-face-30-decline-in-net-asset-value-when-dollarized/ https://nairametrics.com/2023/10/23/nigerian-pensioners-face-30-decline-in-net-asset-value-when-dollarized/#respond Mon, 23 Oct 2023 15:07:23 +0000 https://nairametrics.com/?p=469627 Amid an optimistic narrative surrounding gains in net asset value by pension fund administrators, Nigerian pensioners find themselves grappling with a significant depreciation in the actual worth of their pension assets when evaluated in dollar terms.  

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]]> https://nairametrics.com/2023/10/23/nigerian-pensioners-face-30-decline-in-net-asset-value-when-dollarized/feed/ 0 469627 Hacks on payment system could result in $3.5 trillion losses – Llyods https://nairametrics.com/2023/10/20/hacks-on-payment-system-could-result-in-3-5-trillion-losses-llyods/ https://nairametrics.com/2023/10/20/hacks-on-payment-system-could-result-in-3-5-trillion-losses-llyods/#respond Fri, 20 Oct 2023 13:30:20 +0000 https://nairametrics.com/?p=469352 Lloyds of London has issued a stark warning, raising concerns that a colossal $3.5 trillion could be siphoned from the global economy in the event of a severe cyber-attack targeting a worldwide payment system.

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]]> https://nairametrics.com/2023/10/20/hacks-on-payment-system-could-result-in-3-5-trillion-losses-llyods/feed/ 0 469352 US, USAID, Chapel Hill partner to access $1 trillion funds from American Institutional Investors https://nairametrics.com/2023/10/11/us-usaid-chapel-hill-partner-to-access-1-trillion-funds-from-american-institutional-investors/ https://nairametrics.com/2023/10/11/us-usaid-chapel-hill-partner-to-access-1-trillion-funds-from-american-institutional-investors/#respond Wed, 11 Oct 2023 07:21:03 +0000 https://nairametrics.com/?p=468296 Bolaji Balogun, CEO of Chapel Hill Denham Limited, announced a strategic partnership with US government's Prosper Africa, and Power Africa initiatives and USAID aimed at attracting American Institutional Investors (AII) to access the $1 trillion Investment Asset Funds.

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]]> https://nairametrics.com/2023/10/11/us-usaid-chapel-hill-partner-to-access-1-trillion-funds-from-american-institutional-investors/feed/ 0 468296 UK, US, 3 others contribute 79% of Nigeria capital importation by country of origin   https://nairametrics.com/2023/10/09/uk-us-3-others-contribute-79-of-nigeria-capital-importation-by-country-of-origin/ https://nairametrics.com/2023/10/09/uk-us-3-others-contribute-79-of-nigeria-capital-importation-by-country-of-origin/#respond Mon, 09 Oct 2023 07:11:51 +0000 https://nairametrics.com/?p=467955 The UK, USA, RSA, Singapore, and UAE contributed 79% of Nigeria's capital imports from 2019 to H1 2023, with declining investments. 

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]]> https://nairametrics.com/2023/10/09/uk-us-3-others-contribute-79-of-nigeria-capital-importation-by-country-of-origin/feed/ 0 467955 Currency Roundtripping concerns grow as exchange rate disparity widens https://nairametrics.com/2023/09/26/currency-roundtripping-concerns-grow-as-exchange-rate-disparity-widens/ https://nairametrics.com/2023/09/26/currency-roundtripping-concerns-grow-as-exchange-rate-disparity-widens/#comments Tue, 26 Sep 2023 15:16:13 +0000 https://nairametrics.com/?p=466720 There are mounting concerns that the widening disparity between the dollar and naira may be triggering a new wave of forex round tripping.

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]]> https://nairametrics.com/2023/09/26/currency-roundtripping-concerns-grow-as-exchange-rate-disparity-widens/feed/ 2 466720 Black market welcomes Cardoso with N960/$1, P2P now N970/$1 https://nairametrics.com/2023/09/19/black-market-welcomes-cardoso-appointment-with-n960-1-p2p-now-n970-1/ https://nairametrics.com/2023/09/19/black-market-welcomes-cardoso-appointment-with-n960-1-p2p-now-n970-1/#respond Tue, 19 Sep 2023 06:17:14 +0000 https://nairametrics.com/?p=465807 The exchange rate between the naira and the dollar fell to a record low of N960/$1 on Monday, the first trading day after the announcement of Yemi Cardoso as the country's next central bank governor.

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]]> https://nairametrics.com/2023/09/19/black-market-welcomes-cardoso-appointment-with-n960-1-p2p-now-n970-1/feed/ 0 465807 New data shows marginal gains in gender diversity at Nigeria’s top Banks in 2022 https://nairametrics.com/2023/09/18/marginal-gains-in-gender-diversity-at-nigerias-top-banks/ https://nairametrics.com/2023/09/18/marginal-gains-in-gender-diversity-at-nigerias-top-banks/#respond Mon, 18 Sep 2023 06:37:35 +0000 https://nairametrics.com/?p=465645 Is the glass ceiling finally cracking? How Nigeria's top banks are shifting toward gender equality in 2022

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]]> https://nairametrics.com/2023/09/18/marginal-gains-in-gender-diversity-at-nigerias-top-banks/feed/ 0 465645 President Tinubu nominates new CBN governor and management team https://nairametrics.com/2023/09/15/president-tinubu-nominates-new-cbn-governor-and-management-team/ https://nairametrics.com/2023/09/15/president-tinubu-nominates-new-cbn-governor-and-management-team/#comments Fri, 15 Sep 2023 17:00:45 +0000 https://nairametrics.com/?p=465365 President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years.

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]]> https://nairametrics.com/2023/09/15/president-tinubu-nominates-new-cbn-governor-and-management-team/feed/ 2 465365 Exchange rate falls to N950/$1 three months after anniversary of exchange rate unification  https://nairametrics.com/2023/09/15/exchange-rate-falls-to-n950-1-three-months-after-anniversary-of-exchange-rate-unification/ https://nairametrics.com/2023/09/15/exchange-rate-falls-to-n950-1-three-months-after-anniversary-of-exchange-rate-unification/#respond Fri, 15 Sep 2023 06:10:46 +0000 https://nairametrics.com/?p=465236 The exchange rate between the Nigerian Naira and the U.S. Dollar plummeted to a low of N950/$1, down from N972/$1 just a day earlier, according to forex traders who spoke with Nairametrics.  

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]]> https://nairametrics.com/2023/09/15/exchange-rate-falls-to-n950-1-three-months-after-anniversary-of-exchange-rate-unification/feed/ 0 465236 Impact of Fuel Subsidy removal: Transport Sector GDP contracts by 50.64% in Q2 2023 https://nairametrics.com/2023/08/28/fuel-subsidy-removal-transport-sector-gdp-contracts-by-50-64-in-q2-2023/ https://nairametrics.com/2023/08/28/fuel-subsidy-removal-transport-sector-gdp-contracts-by-50-64-in-q2-2023/#respond Mon, 28 Aug 2023 06:07:31 +0000 https://nairametrics.com/?p=462691 Nigeria's economy recorded a modest growth of 2.51% in the second quarter of 2023, according to the latest data from the National Bureau of Statistics (NBS).

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]]> https://nairametrics.com/2023/08/28/fuel-subsidy-removal-transport-sector-gdp-contracts-by-50-64-in-q2-2023/feed/ 0 462691 UNICEF Commits $270 Million to Boost Nigeria’s Poverty Alleviation Efforts https://nairametrics.com/2023/08/22/unicef-commits-270-million-to-boost-nigerias-poverty-alleviation-efforts/ https://nairametrics.com/2023/08/22/unicef-commits-270-million-to-boost-nigerias-poverty-alleviation-efforts/#comments Tue, 22 Aug 2023 22:59:45 +0000 https://nairametrics.com/?p=462099 In a significant move, the United Nations Children's agency, UNICEF, has unveiled plans to allocate a substantial sum of $270 million to reinforce Nigeria's endeavors in humanitarian aid and poverty reduction.

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]]> https://nairametrics.com/2023/08/22/unicef-commits-270-million-to-boost-nigerias-poverty-alleviation-efforts/feed/ 1 462099 Too early, but is exchange rate unification in the mud? https://nairametrics.com/2023/08/14/too-early-but-is-exchange-rate-unification-in-the-mud/ https://nairametrics.com/2023/08/14/too-early-but-is-exchange-rate-unification-in-the-mud/#comments Mon, 14 Aug 2023 08:42:07 +0000 https://nairametrics.com/?p=461021 In its bid to harmonize Nigeria's dual exchange rate system, the Central Bank of Nigeria (CBN) on June 14, 2023, introduced the FX-managed float system as the process of unifying the exchange rate.

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]]> https://nairametrics.com/2023/08/14/too-early-but-is-exchange-rate-unification-in-the-mud/feed/ 1 461021 CBN advanced N6.2 trillion to Federal Government as Ways and Means in 2022  https://nairametrics.com/2023/08/11/cbn-advanced-n6-2-trillion-to-federal-government-as-ways-and-means-in-2022/ https://nairametrics.com/2023/08/11/cbn-advanced-n6-2-trillion-to-federal-government-as-ways-and-means-in-2022/#respond Fri, 11 Aug 2023 11:44:48 +0000 https://nairametrics.com/?p=460847 CBN under the ways and means financing advanced N6.2 trillion to the FG to bring their total debt to N23.3 trillion at the end of 2022. 

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]]> https://nairametrics.com/2023/08/11/cbn-advanced-n6-2-trillion-to-federal-government-as-ways-and-means-in-2022/feed/ 0 460847 eNaira balances surge to N2.5 billion in 2022  https://nairametrics.com/2023/08/11/enaira-balances-surge-to-n2-5-billion-in-2022/ https://nairametrics.com/2023/08/11/enaira-balances-surge-to-n2-5-billion-in-2022/#comments Fri, 11 Aug 2023 08:00:47 +0000 https://nairametrics.com/?p=460796 The total balances represented in Nigeria's central bank digital currency, eNaira surged to N2.5 billion in 2022. This compares to N940 million reported in 2022 representing a 2.65-fold increase year on year. 

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]]> https://nairametrics.com/2023/08/11/enaira-balances-surge-to-n2-5-billion-in-2022/feed/ 4 460796 Nigerian Breweries Announces Price Hike Effective August 10, 2023, Amidst Economic Challenges  https://nairametrics.com/2023/08/02/nigerian-breweries-announces-price-hike-effective-august-10-2023-amidst-economic-challenges/ https://nairametrics.com/2023/08/02/nigerian-breweries-announces-price-hike-effective-august-10-2023-amidst-economic-challenges/#comments Wed, 02 Aug 2023 10:16:35 +0000 https://nairametrics.com/?p=459869 Nigerian Breweries (NB PLC) has taken a significant step that is set to impact beer lovers across the nation, as they announce a price increase on all their products effective August 10, 2023.  

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]]> https://nairametrics.com/2023/08/02/nigerian-breweries-announces-price-hike-effective-august-10-2023-amidst-economic-challenges/feed/ 6 459869 Nigerian Banks Struggle to meet demand for Personal Travel Allowances amidst Dollar Scarcity  https://nairametrics.com/2023/07/31/nigerian-banks-struggle-to-meet-demand-for-personal-travel-allowances-amidst-dollar-scarcity/ https://nairametrics.com/2023/07/31/nigerian-banks-struggle-to-meet-demand-for-personal-travel-allowances-amidst-dollar-scarcity/#comments Mon, 31 Jul 2023 06:07:31 +0000 https://nairametrics.com/?p=459618 Adebisi, a young Nigerian set to migrate to Canada for good, found himself in a precarious situation when he visited the bank to purchase Personal Travel Allowance (PTA) with his July salary.

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]]> https://nairametrics.com/2023/07/31/nigerian-banks-struggle-to-meet-demand-for-personal-travel-allowances-amidst-dollar-scarcity/feed/ 2 459618 Ghana’s Central Bank Takes Bold Step: Raises benchmark interest rate to 30% amid soaring inflation https://nairametrics.com/2023/07/24/ghanas-central-bank-takes-bold-step-raises-benchmark-interest-rate-to-30-amid-soaring-inflation/ https://nairametrics.com/2023/07/24/ghanas-central-bank-takes-bold-step-raises-benchmark-interest-rate-to-30-amid-soaring-inflation/#respond Mon, 24 Jul 2023 14:42:36 +0000 https://nairametrics.com/?p=459093 Ghana's monetary policy committee has made a decisive decision, voting to increase the country's benchmark interest rate to a substantial 30%.

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]]> https://nairametrics.com/2023/07/24/ghanas-central-bank-takes-bold-step-raises-benchmark-interest-rate-to-30-amid-soaring-inflation/feed/ 0 459093 CBN resumes quotation of Naira-settled OTC FX Futures Contracts https://nairametrics.com/2023/06/30/cbn-resumes-quotation-of-naira-settled-otc-fx-futures-contracts/ https://nairametrics.com/2023/06/30/cbn-resumes-quotation-of-naira-settled-otc-fx-futures-contracts/#comments Fri, 30 Jun 2023 22:26:21 +0000 https://nairametrics.com/?p=457163 The Central Bank of Nigeria (CBN) resumes offering quotes for Naira-Settled OTC FX Futures (NSOFF) contracts with durations of thirteen (13) to sixty (60) months.

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