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Cardoso Says CBN’s Actions Prevented Inflation from Hitting 42.81% in 2024

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Olayemi Cardoso, the Governor of the Central Bank of Nigeria, recently revealed that without the bank’s swift and strategic interventions, Nigeria’s inflation, which stood at 34.80% in December 2024, could have skyrocketed to 42.81%.

Cardoso highlighted several notable achievements during his tenure, including the unification of Nigeria’s multiple exchange rates, clearing a foreign exchange backlog of $7 billion, and boosting the country’s diaspora remittances.

He expects that by the end of the fourth quarter of 2024, remittances will hit N31.79 trillion, a significant increase from the $4.18 billion recorded in the first three quarters of 2024.

The Central Bank Governor also pointed out the remarkable rise in foreign remittances, which grew from $2.33 billion in the same period in 2023 to $4.18 billion in 2024, reflecting the effectiveness of the bank’s policies.


 

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Aliko Dangote Speaks on His Children and Carrying on His Family Name

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Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.

“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”

Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”

Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”


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Dangote Investment Draws Huge Traffic to Bamboo, Cowrywise Platforms

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It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.

Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”

Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”


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Economist Bismarck Rewane Speaks on Dangote Refinery Investment

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Nigerian economist Bismarck Rewane advises Nigerians financially, sharing that Nigerians should engage in the Dangote Refinery initial public offering (IPO). He stated that it was a good investment.

He shared “You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” Rewane said.

“If you can get 10 million shareholders to participate in the IPO, the Dangote Refinery will have the largest number of shareholders in the world,” he said.


 

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