Daily Juice
CBN defends naira with $7.6bn in five months
Herconomy Updates
We are Live on Android and iOS
Our Herconomy app is now live on Android and iOS to make saving much easier for you!
Head on to the Google play store and iOS App store to download the app NOW!
And don’t forget to set up your easy save, with as little as 50 Naira.
To wrap up our just concluded finance series on budgeting, Herconomy in collaboration with Spurt Solutions is bringing you what promises to be a very insightful conversation on how to effectively utilize budgeting as a tool for getting ahead with your finances.
Join us next Thursday 19th of September 2022 by 8 pm WAT. Click on the link below to register for this session for free.
Do you want to join the Herconomy team?
Herconomy is hiring for the following positions.
Frontend developer
Python developer
iOS developer
Software Tester
Android developer
Please email hr@herconomy.com today to apply if you meet the requirement.
Herconomy Conversations
Join us this evening as by 5 pm as we take you on the second tour of the Herconomy app, and show you how to set up your plans.
Click on the link below to follow us on Instagram so you do not miss out on this session.
Herconomy X The Woman King
Herconomy Woman King Movie Premiere Recap
Yesterday, Herconomy was at the forefront of the Woman King movie premiere with up to 20 of our community members and savers getting free tickets for the premiere.
We had an exclusive interview with Jimmy Odukoya, the Nigerian-born star of the Woman King. Our host, Bridget Chigbuife interviewed the star-filled audience on the Herconomy red carpet.
Visit our Instagram page here and catch up with all the highlights of the movie on our stories.
Share Your Reviews With Us!
Have you been saving with Herconomy?
We now have over 3,000 active users on our web app and we would like to know how your experience with us has been.
Thank you for trusting Herconomy to help you achieve your savings goals.
Looking forward to your reviews!
Tech Updates
Google spins out a secret hi-speed telecom project called Aalyria and keeps a stake in the startup
Inside Google, a team of techies has been working behind the scenes on software for high-speed communications networks that extend from land to space. Read more…
Former Tesla CFO joins drone delivery startup Zipline
Former Tesla CFO Deepak Ahuja will join Zipline’s leadership team as the company’s chief business officer and CFO, Zipline announced Friday. Read more…
Twitter calls Elon Musk’s third attempt to scrap an acquisition invalid ahead of a key shareholder vote
Twitter said Monday that payments to a whistleblower did not breach any of its obligations under the $44 billion acquisition proposed by Elon Musk after the billionaire sent a third letter to try to call off the deal. Read more…
Business Matters
Over 40K investors lose $177 million betting against the crypto market’s rise
A surge in Bitcoin is slowing down as investors wait for US inflation statistics and keep an eye on a significant Ethereum blockchain upgrade, both of which have the potential to increase market volatility, leaving some investors burnt. Read more…
Nigeria’s central bank sold forex worth $4.86 billion to authorised dealers in Q1 2022
The Central Bank of Nigeria sold $4.86 billion worth of foreign exchange to authorities in the first quarter of 2022. This indicates a 5.8% decrease, compared with the previous quarter. Read more…
Nigeria’s budding trade opportunities with Indonesia amid an uncertain global economy
Indeed, the world is a global village. Travel and cross-border commerce and investment levels have never been more significant in the history of our planet. However, moments of crises and threats to the sovereignty of nations have a way of recalibrating national, business and human relations. Read more…
Nigeria’s SEC says crowdfunding will accelerate financial inclusion
The Securities and Exchange Commission (SEC) has said that the operationalization of Crowdfunding will accelerate the Financial Inclusion agenda in Nigeria while increasing the quantum of investible funds by unlocking untapped capital in the economy. Read more…
Manufactured goods fall 36% to N2.87tn, and inflation looms
The value of manufactured goods traded tumbled by 36 per cent from N4.51tn in the second quarter of 2021 to N2.87tn in the corresponding period of 2022. Read more…
FG loses 13.21m-barrels oil worth N603.64bn in 2022
Nigeria lost about 13.21 million barrels of crude oil with an estimated worth of N603.64bn between January and August this year, an analysis of the monthly reports of the country’s crude oil and condensate production showed. Read more…
NIMASA seeks a location for an N50bn floating dock
The Nigerian Maritime Administration and Safety Agency said the agency is yet to get a location for the N50bn floating dock. The Director-General, NIMASA, Dr Bashir Jamoh, said no one has started or tested the floating dock since 2018. Read more…
Accelerex Holdings launches N20bn bond programme
Accelerex Holdings Mauritius says its Nigerian subsidiary, Global Accelerex Limited, has registered an N20bn bond programme, and successfully issued a five-year senior unsecured bond of N2.3bn via a special purpose vehicle (Accelerex Funding SPV Plc). Read more…
The insurance sector records 17.28% Q2 growth
The insurance sector grew by 17.28 per cent in the second quarter of 2022, according to figures obtained from the National Bureau of Statics’ Gross Domestic Product report for the period. Read more…
CBN defends naira with $7.6bn in five months
The Central Bank of Nigeria injected $7.6bn into the economy to stabilise the value of the naira in five months. This was obtained in the banking regulator’s monthly economic reports on foreign exchange market developments. Read more…
Stock investors’ three days loss hit N241.27bn
The equities market continued its bearish trend on Wednesday as investors’ three days loss rose to N241.27bn from N30bn loss on Monday. Read more…
Quote of the Day
"Success is where preparation and opportunity meet."
—Bobby Unser