Daily Juice
CBN raises interest rate to 16.5%
Herconomy Updates
Herconomy Update
On the 1st of October, Herconomy called on women to change the narrative.
In the Herconomy Each Woman Bring One Campaign, we want to get 50,000 women to start saving by December 2022.
Not yet saving with us? Join the movement with these 3 easy steps;
Download the Herconomy app from the buttons below.
Start saving with as little as N100
Share your referral link with all the women you know to join you.
Together we can achieve a culture of savings for women. What is your number?
Herconomy Conversations
We all have that significant time in our life when we wished we saved or thanked God we saved.
Join us Today, Friday 25th of November on IG live by 7 pm, as our speaker, Bisoye Okwoli an expert coach in Personal Finance, speaks to us about how Saving impacted her life and how it could impact ours as well.
Follow us on Instagram so you don’t miss out on this session.
#EWBO Weekly Giveaway
It’s giveaway ‘ O’clock!
As part of Each Woman Bring One Campaign we promise a weekly giveaway of gift items to you our amazing savers.
For this week we have partnered with Glemlivet Furniture to giveaway 3 luxury furniture items to one of our lucky savers.
All you have to do is:
1. Download the Herconomy app.
2. Set up your easy save.
3. Start saving.
Hurry now download the app so you can stand a chance to win.
The winner would be announced on Friday by 6:45 pm on IG live.
Tech Updates
African eCommerce giant, Jumia, to reduce staff and product offerings
On TechpointDigest, Victoria Fakiya discusses Techpoint Africa’s exposé on Healthlane, Jumia’s plans to reduce staff and products, Chipper Cash’s plan to acquire Zoona, and Cellulant’s partnership with Solv Kenya. Read more…
HP laying off 4,000-6,000 employees globally over the next three years
Computer maker HP Inc. said Tuesday that it plans to cut 4,000 to 6,000 employees over the next three years. Shares rose as much as 1% in extended trading following the announcement. Read more…
Business Matters
CBN raises interest rate to 16.5%
The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. Read more…
Oil theft: Nigeria loses $2bn in eight months
The ad-hoc committee set up by the Senate to investigate oil theft and consequent damage to the nation’s economy said on Tuesday that Nigeria lost $2 billion, equivalent to N1.3 trillion, to oil theft between January and August this year. Read more…
New naira notes for circulation before Dec 15
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the President, Major General Muhammadu Buhari, will unveil the new naira notes during the weekly Federal Executive Council at the Presidential Villa on Wednesday. Read more…
36 million Nigerians lack access to financial services – CBN
The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Read more…
16.5% interest rate: Private sector predicts factories shutdown, higher bad loans
The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 15.5 to 16.5 per cent in order to rein in inflation and maintain economic stability. Read more…
Nigeria’s 6 leading insurance firms grow gross premium to N180 billion in 9 months
Nigeria’s leading insurance firms earned a whopping sum of N180.200 billion as revenue in the first nine months of 2022, outperforming their earnings of N146.240 billion in the corresponding period of 2021. Read more…
Tax on beverages: Worries for operators as inflation undermines the capacity to pass costs
Though the Federal Government is unrelenting to introduce a percentage tax of 20 per cent on fizzy drink products, operators are worried about the capacity to bear an additional cost in an environment where consumers struggle with rising inflation. Read more…
‘Trust deficit, confidence issues aggravating Nigeria’s economic woes’
Cases of fiscal mismanagement leading to high levels of trust deficit and lack of confidence in public institutions have been identified as factors limiting Nigeria’s potential and aggravating its economic woes. Read more…
Quote of the Day
“Your destiny is to fulfil those things upon which you focus most intently. So choose to keep your focus on that which is truly magnificent, beautiful, uplifting and joyful. Your life is always moving toward something.”
—Ralph Marston