Nigerian households are increasingly relying on personal loans as inflation erodes their purchasing power and living standards. The annual inflation rate hit 29.90% in January 2024, driven by Naira devaluation. Personal loans surged by 11.9% to N3.82 trillion in January 2024 compared to January 2023, while Retail loans also increased by 3.6% to N794.79 billion. These borrowing trends reflect Nigerians’ …
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The Central Bank of Nigeria (CBN) has revoked the banking licence of Heritage Bank Plc. The decision, announced on June 3, 2024, takes immediate effect. This action is rooted in the bank’s failure to comply with financial requirements stipulated under Section 12 (1) of the Banks and Other Financial Institutions Act (BOFIA) 2020. The CBN highlighted that Heritage Bank’s financial …
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Don’t act so surprised, Your Highness. You weren’t on any mercy mission this time. Several transmissions were beamed to this ship by Rebel spies. I want to know what happened to the plans they sent you. In my experience, there is no such thing as luck. Partially, but it also obeys your commands. I want to come with you to …
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