News
Bitcoin vs Gold: Understanding Safe-Haven Assets in a Volatile World

When investors are most unsure, they reach for assets that retain their value during market turmoil. For institutional and individual investors in Africa, including Nigeria, gold has been the go-to haven for several years. More recently, Bitcoin has been increasingly touted by its advocates as a digital alternative to gold because of its decentralized architecture, capped supply, and rising international profile.

Bitcoin vs Gold
In reality, matters are far more nuanced. Although Bitcoin certainly constitutes a profoundly important development in the field of digital money, it is not a stable store of value at this time. Instead, its price dynamics more closely resemble those of risk assets, such as major stock indices and speculative technology stocks.
Given the inflation pressures, currency devaluation, and exchange rate instability that encourage diversification beyond traditional financial instruments in Nigeria, the question is: Which asset can reliably preserve wealth? To understand what makes an asset a safe haven, one needs to be clear on the definition. A true safe haven preserves purchasing power during crises, maintains demand across economic cycles, and retains liquidity under stress.
Gold has met these criteria time and time again throughout the centuries and across geopolitical events. Bitcoin, in relative contrast, has shown high volatility, strong correlation with global risk sentiment, and rapid speculative inflows and outflows. These characteristics position it closer to a high-risk growth asset than a defensive hedge.
Why Gold Remains the Primary Safe-Haven Asset
Gold has been a store of value for millennia. Its value is independent of any government, central bank, or digital infrastructure, and of any external platform. The price of gold mainly responds to currency weakness, geopolitical tension, and macroeconomic uncertainty. When inflation grows or currencies lose their purchasing power, gold usually appreciates. This can be clearly seen in Nigeria in recent years, as inflation and a weakening Naira have led to increased domestic demand for gold as a means of capital preservation.
The stability of Gold is not accidental. Deep global liquidity, central bank participation, and sustained demand from industry and jewelry markets all underpin it. These structural characteristics reduce speculative volatility and create price behavior that, relatively speaking, is smoother during periods of global market stress.
Bitcoin Has More With Risk Assets
Bitcoin is often referred to as “digital gold” because of its limited supply and decentralized architecture. However, it behaves more like a high-beta market instrument in terms of price action. When global markets are higher and technology stocks are outperforming, Bitcoin tends to appreciate strongly, while it declines with equity indices when risk sentiment is poor.
For instance, during global risk-off events such as major central bank tightening cycles, Bitcoin has plunged along with stock markets. This is consistent with speculative capital exiting high-volatility assets first when liquidity tightens. A safe-haven asset should behave differently. It should either remain stable or appreciate during market uncertainty, not decline with broader markets.
Bitcoin’s sensitivity to leverage conditions, liquidity cycles, and risk appetite precludes it from being viewed as a defensive portfolio asset at this time. It remains a speculative growth asset, with its price driven by sentiment, innovation cycles, and capital flows from both retail and institutional traders seeking momentum opportunities.
Nigeria’s Inflation and the Search for Stability
The Nigerian economy has experienced its fair share of runaway inflation, currency turmoil, and foreign-exchange pressure. Against this backdrop, the difference between a speculative asset and a true store of value becomes material. Most Nigerians like Bitcoin because it is accessible, internationally mobile, and free from local currency constraints. Features like these make Bitcoin a valuable alternative for transactions and savings, especially when access to banking is limited or capital controls limit currency movement.
However, the ability to move capital does not translate into its value being preserved. Wealth protection requires stability. Gold provides this stability through centuries of price memory and broad demand. Bitcoin offers mobility and the growth potential, but mobility must not be confused with safety.
Complementary Rather Than Substitutive Roles
Gold and Bitcoin do not compete directly; they serve different roles within a portfolio. Gold is a foundational asset for stability, while Bitcoin can be used as a speculative vehicle, diversification tool, or to get exposure to digital innovation, but only as a controlled percentage of one’s capital. For most traders and investors, Bitcoin is an appropriate allocation, balanced by assets that maintain value regardless of global liquidity conditions.
A common framework amongst professional portfolio managers today is to consider gold a core defensive asset and Bitcoin a satellite holding of high conviction, which is sized according to one’s personal risk tolerance.
Stability vs Growth Potential
Gold stores value through stability and resilience in the long term. Bitcoin offers potential growth, but it is highly volatile and sensitive to global risk sentiment. For both investors and traders that want to protect capital while maintaining strategic flexibility in Nigeria, these will make a difference. Understanding the respective role of each asset leads to better portfolio construction and more sustainable financial outcomes.
Bitcoin is a powerful innovation and an important part of modern financial evolution. Gold remains the foundation for wealth preservation. The right balance does not depend on a question of preference but of purpose.
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News
Nigeria Customs Deploys AI to Cover Revenue Leaks

The Nigeria Customs Service (NCS) has rolled out an artificial intelligence (AI) driven capacity-building programme to improve revenue generation and reconciliation across its operations.

The initiative, unveiled during a three-day training event in Abuja, aims to transition the agency toward data-driven administration as Nigeria seeks to boost non-oil revenue.
The adoption of AI will enable the service to better manage complex trade systems, detect anomalies and reduce revenue leakages, says Bashir Adewale Adeniyi, comptroller-general of the NCS.
AI-powered tools are already being integrated into risk management and cargo scanning systems to allow for real-time analysis of trade patterns.
The technology marks a transition from manual, reactive processes to predictive and automated decision-making, Adeniyi adds.
The programme also reflects a shift in the relationship between the NCS and the National Assembly toward a collaborative framework focused on transparency and efficiency.
The training is a strategic intervention to address persistent gaps in revenue management, says Kikelomo Adeola, deputy comptroller-general of the NCS.
AI applications, ranging from automated data analysis to predictive intelligence, will significantly enhance the integrity of public financial systems, she says.
The initiative aligns with broader efforts to modernise governance and improve compliance across revenue-generating agencies, says Bamidele Salam, chairman of the House Public Accounts Committee.
Lawmakers and fiscal authorities at the event underscored the urgency of adopting advanced technologies amid rising budgetary pressures.
This move comes as the federal government increases scrutiny over revenue leakages and audit discrepancies.
The partnership between the NCS and the legislature is critical to strengthening fiscal discipline and ensuring all revenue due to the federation is accurately captured, Adeniyi concludes.
News
Lagos Targets Vulnerable Residents in Expanded Social Register

Lagos State Government has intensified efforts to strengthen its social protection framework with a fresh push to update the state’s Single Social Register.

Babajide Sanwo-Olu, Governor, Lagos
This was contained in a press statement on the government’s Facebook page on Wednesday.
The initiative, led by the Lagos State Ministry of Economic Planning and Budget, formed the focus of a strategic engagement held on Monday with Community-Based Targeting teams, local government coordinators and field enumerators across the state’s 57 Local Government Areas and Local Council Development Areas.
The meeting, themed “Closing the Gap: Accelerating Lagos State Single Social Register Update,” took place at the Radio Lagos Multipurpose Hall in Agidingbi, Ikeja.
Officials said the exercise is aimed at improving the accuracy and reach of the register, which serves as a critical tool for planning and delivering targeted social interventions, including financial support, healthcare and education services.
Speaking at the session, Ope George, commissioner for Economic Planning and Budget, commended field workers for their commitment while urging them to scale up their efforts.
He called on participants to be “more intentional by intensifying their commitment,” reaffirming the government’s resolve to “continuously strengthen and refine the Register to reflect evolving realities.”
Also speaking, Olayinka Ojo, permanent secretary in the ministry, described the register as central to effective governance and service delivery.
She said “it remains a cornerstone for effective planning and delivery of social intervention programmes,” adding that the ongoing update is designed to “further enhance data reliability, coordination, and service delivery outcomes.”
Ojo noted that sensitisation efforts would be expanded across all councils to ensure wider inclusion of residents, stating that “the advocacy and sensitisation will scale throughout the 57 LGAs and LCDA to give more to Lagos residents.”
According to the government, the updated register is expected to expand access to social protection programmes and improve the targeting of interventions for the most vulnerable populations.
The engagement also provided a platform for stakeholders to strengthen collaboration, improve data quality and reinforce transparency in grassroots data collection.
The state government reiterated its commitment to leveraging accurate data and partnerships to drive inclusive development, reduce vulnerability and improve living standards across Lagos.
News
Study Shows 38% of Northern Women Lack Access to Financial Services

A new study by Bayero University, Kano, has found that 38 per cent of women in Northern Nigeria do not have access to financial services.

The study, carried out by the Aminu Kano Centre for Democratic Studies of the university, was supported by the Gates Foundation. It examined how social norms and behavioural factors influence financial inclusion across the 19 Northern states.
The report, titled “Understanding Influence and Behaviour in Northern Nigeria” and unveiled in Abuja on Wednesday, stated that while 52 per cent of women are financially served, only 45 per cent access formal financial services through deposit money banks, merchant banks, interest-free banks and microfinance institutions.
It stated that “38 per cent of women across the region lack access to financial services. “52 per cent of women are financially served, while 45 per cent access formal financial services through Deposit Money Banks, merchant banks, interest-free banks and microfinance institutions. An additional seven per cent utilise other formal non-bank financial products, including insurance services. ”
Speaking at the unveiling, the Director of Academic Planning at Bayero University, Prof. Yusuf Garba, who represented the Vice Chancellor, Prof. Haurna Musa said the research was designed to uncover why the region lags in financial access.
“This study, which started in 2024, aims to examine how social norms influence attitudes and behaviour of various groups across Northern Nigeria, particularly to find out why states in the region fall behind in access and use of financial services,” he said.
Garba explained that the research, conducted over 18 months, produced two volumes detailing how influence structures, trust hierarchies, gender norms, and religious considerations shape decisions around finance, health and education.
He added, “The report is structured into volumes to provide a unified explanation of how social norms, authority structure, and trust shape financial behaviour across Northern Nigeria.”
On the findings, the Principal Investigator, Prof. Ismael Zango, said the data aligns with figures from the National Bureau of Statistics, particularly on poverty and unemployment.
According to him, “unemployment in the region stands at about 37 per cent,” while “poverty levels average about 80 per cent across Northern Nigeria, with Sokoto State recording the highest rate at over 80 per cent.”
Zango stressed that addressing financial exclusion requires more than temporary interventions.
“Economic empowerment must go beyond token financial support,” he said, adding that “sustainable development requires equipping women and youths with relevant, market-driven skills.”
He cited women-led initiatives such as groundnut processing groups in Kebbi State and the Women in Agriculture programme in Kano State as practical models.
“These initiatives should be scaled up to bring more people into productive economic activities and reduce poverty,” he said.
In her remarks, the Chief Executive Officer of Enhancing Financial Inclusion and Advancement, Mrs. Foyinsolami Akinjayeju, described financial inclusion as both an ethical and economic imperative.
Akinjayeju called for stronger collaboration among stakeholders, including government, financial institutions and development partners, as well as policy reforms to address existing gaps.
“Everyone has a role to play, but commitment must come from the top,” she said.
The findings come amid growing concerns over low financial inclusion rates in Northern Nigeria, driven by poverty, unemployment, and entrenched social norms that limit women’s economic participation.
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