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CBN
The Central Bank of Nigeria (CBN) and the Bankers' Committee have ordered all banks in the country not to retrench or lay-off any staff of any cadre (either full-time or part-time).
The naira is likely to keep falling due to surging demand for the U.S dollar as Nigeria’s Central Bank begins Fx sales to Nigerian banks
CBN in continuation of its recent policy direction to stabilize the present realities has extended the deadlines for compliance with the revised MFBs.
Appendix I. Letter of Intent April 21, 2020 Ms. Kristalina Georgieva Managing Director International Monetary Fund (IMF) Washington,...
The outbreak of COVID-19 and the sharp downturn in crude oil prices have continued to stoke fears of a further devaluation in the Naira.
What is good for the goose is therefore equally suitable for the gander. It is crucial that the government urgently unrolls a fiscal Marshall plan to address the economic emergency in the upstream oil sector
IMF expressed special interest in getting Nigeria to follow through with the unification of the multiple exchange rates
"There is therefore no need for panic by any end-user that could necessitate recourse to illegitimate sources and spike in foreign exchange rates."
COVID-19 has had a major effect on the global economy, which is now stuck between uncertainty and a self-induced fall in demand
Nigeria may need more than $3.4 billion from the IMF and bond buyers making it inevitable that the currency will be floated
The consistent slide of the naira in the parallel market is a pointer to the fact that CBN may further devalue the naira.
Nigeria's currency continued to depreciate at the forward market, as worries strengthened that the CBN might have to devalue the naira again.