• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

What Adeosun Told Bond Investors In London About The Flexible Exchange Rate Policy

Nairametrics by Nairametrics
June 7, 2016
in Business News, Spotlight
What Adeosun Told Bond Investors In London About The Flexible Exchange Rate Policy

Kemi Adeosun and World Bank Officials in Abuja Nigeria

Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s Minister for Finance Kemi Adeosun was in London on Tuesday to pitch Nigeria’s plan to borrow money from foreign bond investors. We had opined here that she could use this medium to reveal what was in the offing as per the new “flexible exchange rate” policy.

As expected she spoke to investors and provided an update on the policy. According to Bloomberg, two analysts who were present at the meeting revealed that “Nigerian officials said they are still working out the details of a new currency policy and may make an announcement within the next month”.

To be more specific about how long this could take, one of the investors Kevin Daly, a money manager at Aberdeen Asset Management Plc, informed Bloomberg that it could be ”days or weeks,” . He also revealed that Nigerian authorities said they’re ”having discussions, including with local banks,” Daly said by phone from London.

RelatedStories

5 Consumer stocks you should consider for your portfolio 

How much is your N1 Million investment worth in forex vs. equities vs. bonds? 

January 14, 2025
Why The Naira Is Gaining Against The Dollar.

How Much Money Do You Need To Start Investing?

November 30, 2024

Bloomberg also reports that the central bank was represented at the London meetings by Alvan Ikoku, its director for trade and exchange. Another analysts; Richard Segal, an emerging market analyst at Manulife Asset Management explained what he said.

“The director confirmed that in line with the recent MPC statement, it was discussing how to implement a more flexible FX regime,”  “The central bank said there would be some kind of announcement relatively soon.”

So there you have it, something was announced but not enough to end the speculation. The price of the dollar rose to over N360 on Tuesday as speculators scrambled to buy all the dollars within their sight in anticipation of an imminent devaluation or float of the Naira.

Bloomberg further reports that share revealed that Nigeria may issue a $1 billion Eurobond in the third quarter and that it was close to securing $3 billion of funding from the World Bank and African Development Bank, according to Daly. The finance minister said the government was committed to a budget deficit of no more than 2.2 percent of gross domestic product this year despite the economy being on the verge of a recession,

Nigeria has sold dollar bonds twice, the last time in mid-2013, when it raised $1 billion of five- and 10-year debt. Yields on its $500 million of securities maturing in July 2023 fell one basis point to 7.49 percent by 5:30 p.m. in London and have dropped 1.2 percentage points this year.

 


Follow us for Breaking News and Market Intelligence.
Tags: BONDS
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

5 Consumer stocks you should consider for your portfolio 
Financial Literacy

How much is your N1 Million investment worth in forex vs. equities vs. bonds? 

January 14, 2025
Why The Naira Is Gaining Against The Dollar.
Digital Media

How Much Money Do You Need To Start Investing?

November 30, 2024
DMO, FGN Savings Bonds
Fixed Income

Federal Government raises N264.527 billion from September bond auction amid lower rates

September 28, 2024
Wale Edun,
Economy

FG plans to pay N1.7 trillion electricity debt through bonds, promissory notes

June 6, 2024
Investors oversubscribe 30 year FGN bond, ditch shorter tenured bonds over inflation concerns
Economy

Investors oversubscribe 30 year FGN bond, ditch shorter tenured bonds over inflation concerns

November 15, 2023
African Bond market, Bonds
Equities

Why African Bond market taste bitter right now

October 6, 2023
Next Post
Sugar Surge in Nigeria

Sugar Spike: Nigeria's Consumer Goods Industry Is About To Take A Hit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
first bank
Zenth Bank









DUNS

Recent News

  • Tinubu urges Qatar to support Nigeria’s fight against poverty, welcomes investments in agriculture, others 
  • Trump hints at tariff cuts on Chinese imports to 80% ahead of high-stakes trade negotiations 
  • Wale Edun pushes finance ministry directors to deliver 7% GDP growth 

Follow us on social media:

Recent News

Tinubu urges Qatar to support Nigeria’s fight against poverty, welcomes investments in agriculture, others 

Tinubu urges Qatar to support Nigeria’s fight against poverty, welcomes investments in agriculture, others 

May 9, 2025
Trump imposes 14% tariff on Nigeria’s export to the United States of America

Trump hints at tariff cuts on Chinese imports to 80% ahead of high-stakes trade negotiations 

May 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics