Official: CBN Instructs Banks To Compute Net Open Position Daily, from Monthly

The Central Bank has reduced the timeline for banks to compute the Net Open Position to daily Before now banks computed net open positions monthly and...

Naira Falls Again At The Interbank (29/1/2015)

Nigerian naira shed 1.64 percent to close at 189.10 against the greenback on Thursday, despite dollar sales by the central bank and oil companies,...
CBN Gov Godiwn Emefiele

Official: What Godwin Emefiele told the Business Community When He Met With Them

Godwin Emefiele has been under the spotlight for weeks now as Nigeria deals with a major depreciation of the naira with him as the...

Respite as Naira Regains Sharply after NNPC $350m Sale

The Nigerian naira firmed sharply on Wednesday after state-oil company NNPC sold around $350 million to lenders, helping the currency recover from a record...

D-A-N-G-E-R: 21 Primary Mortgage Banks Fails

The Nigeria Deposit Insurance Corporation (NDIC) has taken over 21 Primary Mortgage Banks (PMBs) that fell short of the Central Bank of Nigeria (CBN)...

No Respite as Naira Drops To a New Record Low Against The Dollar

Nigeria's naira ended at a record closing low on Monday, despite central bank intervention, as the currency continued to weaken on strong demand for...

Three Reasons Why The Naira Is Trading Above N200 to $1

The Naira is currently trading above N200 in most parts of Nigeria and understandably a lot of my readers are wondering why and how?...

Naira Records Worst Week In History

The naira closed at a record closing low of 190.60 to the dollar on Friday, despite the central bank intervening for a fifth day...

Now That $1 Equals N200, Here is a ‘Doomsday’ Conspiracy Theory of ...

The Naira has finally hit N200 in the black market and it appears it has no way of coming down at least not now....

How The New CBN Restriction of rDAS (Dollar) Sales to BDCs Could Affect Your...

The CBN has issued another circular increased its Net Open Position from 0.1% to 0.5% of shareholders fund unimpaired by losses. Last year it had...

DEVALUATION 2.0: Naira Drops To Lowest EVER at The Interbank, Ahead of MPC Communique

It was another record low for the Naira today after it fell by 3.6% to N191 191.85 naira against the dollar as the market...

A-N-N-O-U-N-C-E-M-E-N-T: JP Morgan ‘Threatens’ To Yank Nigeria Out Of Its Emerging Market Bond Index

In a drastic twist of fortunes JP Morgan  has threatened to eject Nigeria from its widely benchmarked emerging market index. According to reports from...

Did This Statement From Oscar Onyema Trigger The Mega Sell-Offs Of Nigerian Stocks

Source: Bloomberg Nigerian All Share Index already has the enviable record of being the worst performing stock of 2015 after it has dipped by over...

Official: Why Nigerian Stock Market Performed Poorly in 2014, According to NSE

If you are a regular reader of this blog, then by now you should have a good idea of why the stock market faired...

AMCON Boss Wants CBN To ‘Devalue’ The Naira Quarterly

Just after the CBN Monetary Policy Committee announced devaluation of the naira last year, a CBN Deputy Governor Adebayo Adelabu came out to say...

U-Turn: CBN Reviews Dealers’ Forex Position to 0.1%

The Central Bank of Nigeria (CBN) on Monday reviewed upward the daily foreign currency trading positions of banks from zero per cent to 0.1...

Chart of the day: The CBN Has Sold $217.2billion Between 2002 and 2014 ‘Defending...

Dollar Sales between 2002 and 2014 (Source: CBN) The Minister of Finance, Ngozi Okonjo Iweala responded to criticism labeled by the former president Olusegun Obasanjo...

Here Are Godwin Emefiele’s 5 Strong Responses Debunking Capital Controls

  The CBN has in recent months issued a set of circulars that have affected the purchase of utilization of dollars in Nigeria. The moves...

Chart of the day: CBN Blows $33billion Defending The Naira in 2014

Just how much has the CBN spent in 2014 in trying to ensure importers meet up with their insatiable need for the dollar? According...

With a Vengeance, Bears Takes Over Nigerian Stock Exchange

The Nigerian All Share Index followed with yesterday bearish run as the index posted a 4.19% loss. The Index opened flat before the sell-offs...

Chart of the Day: US Crude Oil Import from Nigeria….Going, Going, G….

                                     Source: Nigerian Budget Office This is just a stark reminder of how bad Nigerian crude oil exports have performed this year. From exporting over...

CBN Blows $2billion Defending The Naira (One Month After Devaluation)

It's just over one month since the CBN devalued the Naira and increased lending rate in a drastic attempt at defending the naira. Most analysts saw...

SANUSI 2.0: Newly Elected Mauritius Govt. Sacks Its CBN Gov. Despite Having 2 Years...

Reuters reports Mauritius central bank governor Rundheersing Bheenick said he has been sacked by the newly elected Government in Mauritius  after seven years in...

Russia Blew $15b In One Week Defending The Ruble

The Russian Central Bank blew a whopping $15.7billion last week in a continuous bid to defend its currency and support local banks. Russia now...

Yuletide Present For Nigerians As Dollar Sells For N194 On Xmas Eve

The dollar closed today at the interbank at N180.10 dropping 2.96% from previous day close. It is still about N8 higher than CBN's preferred...

Nigeria’s Federation Account Revenue Just Nose Dived To a 9 Month Low

The Central Bank in its Monthly Economic Report for October released yesterday revealed that the Federal Government generated N278.79billion a 21.6% drop from its...

This Is The Full 2015 Nigerian Budget Speech (Updated)

The Budget office finally released the full transcript of the 2015 Budget speech which is much more comprehensive than the one earlier put up...

Why The Dollar Is Selling For N192 At The Black Market

A few calls to black market operators in Ikoyi confirm the dollar was trading at between N192 to N193. The dollar had during the...

CBN Sold One Year Treasury Bills Last Week At a True Yield of 19%!!!

The Central Bank on Wednesday sold N110.39b worth of  one year treasury bills at a rate of 15.99% delivering  a true yield of 19% The last time...

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