This Chart Reveals Why Naira Devaluation Is ‘Inevitable’
This CHART OF THE DAY from Bloomberg shows that the rate at which the naira trades in the interbank market ...
Tag: News Review
Review of top business & economic news and analysis from Nigeria
B-O-O-M: CBN Blows $1b in 12 Days Defending the Naira, Emefiele Says ‘Don’t Panic’
The Central Bank has spent an estimated $1billion in the last 12 days in its bid to defend the Naira. A ...
A-N-N-O-N-C-E-M-E-N-T: Latest Nigerian Bond Sales Fail To Hit Target
Reuters reports Nigeria raised 76.5 billion naira ($375.2 mln) at a bond auction held on Wednesday, short of its target ...
Why Nigeria’s FX Market Shut Down Today (11/2/2015)
Nigerian dealers pulled the plug on electronic trading in the naira currency on Wednesday after it slid past the key ...
Nigeria’s Middle Eastern Competitors Just Cut Oil Prices to Asia To Lowest Level in A Decade
Iraq and Iran joined Saudi Arabia in cutting their March crude prices for Asia to the lowest level in more ...
S&P Threathens To Downgrade Nigeria’s Credit Rating Over Falling oil prices, Political Unrest
Standard & Poor's Ratings Services warned Tuesday that it might downgrade Nigeria's credit rating, citing tumbling oil prices and political ...
Sterling Bank Completes N19b Special Placement To Silverlake Investment
Sterling Bank Plc has increased its equity funds by some N19 billion as the bank has rounded off the process ...
Analyst Says Election Postponment Is Making Investors Lose Interest in Equities
The postponement of the general elections has heightened anxiety and dampened investors’interest in Nigerian equities, analysts have said. The presidential ...
Nigerian Fuel Subsidy Quadruples to N14.79/Litre
Data from the PPRA suggest fuel subsidy is now N14.79 per litre. Total landing cost for PMS (fuel) was N101.79 ...
C-R-I-S-I-S: Overnight Lending Rate Spikes to 100%, Dollar Hits N200.02 at The Interbank
Nigerian overnight interbank rate spiked to a record high of 100 percent on Tuesday, up from 60 percent on Monday, ...
