Contrary to speculations in some quarters, Central Bank of Nigeria on Friday night said that the Naira had yet to be devalued. The bank said yesterday that those campaigning for further devaluation of the naira, or speculating it has already devalued the […]
The United States said on Monday it will press Nigeria in talks this week to adopt a more flexible foreign exchange rate to boost growth and investment in Africa’s largest economy. U.S. Assistant Secretary of State for Africa, Linda Thomas-Greenfield, […]
Just nine months into his term, Nigerian president Muhammadu Buhari is under pressure. Under his leadership, the currency has reached record lows and inflation has reached the highest level since 2012, while Nigeria currently has a budget deficit of over […]
The debate about the appropriate value of the Naira featured prominently in the public domain last week. This prominence was driven by three developments: the refusal of the Monetary Policy Committee of the Central Bank of Nigeria (CBN) to further […]
Nigerian economy is experiencing some downturns.. More than anything, it appears that high oil price, the major driver of the supposed growth of the last 16 years, will remain a pipe dream for a longtime. The Chinese economy has continued […]
Central Bank of Nigeria says it may devalue the naira if it is found to holistically be in the overall interest of the nation, saying hard choices would be made in 2016. Moses Tule, the director, monetary policy department of […]
