The Slice Weekly #14: FCCPC warns Nigerians about fake online stores during Black Friday

In this issue: CBN Directs Banks to Boost Capital for Serving a $1 Trillion Economy; NGX Advocates Favorable Treatment for Listed Companies in Government Procurement and FX Access; Nigerian Naira Stages Impressive Comeback, Surges Over 20% to Close at N794.89/$1; FCCPC warns Nigerians about fake online stores during Black Friday.

Finance News

• The Central Bank of Nigeria (CBN) has requested that banks increase their capital to serve a $1 trillion economy effectively. [Get the full gist].

• The Nigerian Exchange Limited (NGX) advocates for listed companies to receive precedence in government procurement processes and foreign exchange (FX) access. Temi Popoola, the CEO of NGX, emphasized the importance of this strategic approach in attracting more companies to list on the Exchange and addressing prevalent FX challenges. [Read the details].

• The Nigerian Naira has made a significant rebound, appreciating by over 20% to close at N794.89 against the US dollar at the official market. Analysts attribute this gain to the Central Bank of Nigeria's recent efforts to clear its FX backlog, boosting confidence in the currency. [Find out more].

• The Federal Competition and Consumer Protection Commission (FCCPC) cautioned Nigerians about the surge in fake online stores, expecting a 135% increase during the upcoming Black Friday sales. Executive Vice Chairman Babatunde Irukera urged consumers to be vigilant, insisting on transparent disclosures and patronizing only trusted platforms. [Dig into the details].

Events and Opportunities

• Experience Extended Reality [XR]! Engage in enlightening conversations and explore how Innovation, Media, and Technology can reshape Africa’s narrative—network with industry experts like Malik Afegbua, Oluwatosin Ajibola, and Ruth Zakari. [Learn more].

• Balancing the Conversation: Aligning Expectations. This event addresses the evolving workplace in Nigeria. Discover insights on talent engagement, economic impact, and HR practices [Get your tickets].

• Enjoy Your Favorite Wines and Spirits. URBAN PARTY 5.0 promises to be an experience where the finest beverages meet an atmosphere of creativity and collaboration. [Have a look at the event].

• Explore the Future of Tech in Africa! Join Tech Connect Africa for an Afrocentric experience celebrating Africa’s future, innovation, and talent. [Check out the event].

ICYMI: Keble Investors Reap Rewards with Lathom Point Asset Payout

In a recent triumph, the Keble users who wisely invested in Lathom Point Asset in June celebrate impressive returns.?

What makes this success story even more noteworthy is the substantial role played by the strength of the Dollar against the Naira. While the actual return on the asset was a solid 3%, a whopping 54% was attributed to the Dollar’s value surge, delivering a remarkable total return of approximately 57% in just four months.

This underscores the prevailing advantage of investing in USD-dominated assets, as showcased by the substantial gains experienced by these Keble investors. While circumstances may evolve, the present scenario emphasizes the Dollar as a safer and more lucrative option for those keen on securing their financial future.

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Today’s newsletter is brought to you by Keble. This platform provides Global real estate investment options for young Africans, allowing you to achieve your goals and build wealth seamlessly.?

To access more professional and financial education resources, you can join the Keble community—Keble Trybe. On the Trybe, we curate top-notch content, including articles, videos, webinars, and expert-led workshops designed to enhance your understanding of money management, investing, budgeting, and more.

Here are some of our publications:

• 5 Benefits Of Fractional Real Estate Investing
• It’s A Balancing Act: Wealth Building Hack From Top Financial Analyst, Tolulope Nyaaku
• How To Supercharge Your Productivity With AI Tools

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