By ONYINYE NWACHUKWU Only 1 percent of financing for formal businesses in Nigeria comes from the banks and other financial institutions, figures from the Ministry of Finance have indicated. This, interestingly, is in spite of several efforts by the Central Bank of Nigeria (CBN) and government stimulus to encourage the […]

By Ademola Alawiye with agency report The Debt Management Office said on Thursday that it sold N60bn ($383.3m) in five-year and three-year sovereign bonds at its third debt auction of the year, adding that the yields edged higher than the previous auction in February. The debt office added that it […]

By Ademola Alawiye The Central Bank of Nigeria on Monday intervened in the foreign exchange market as it offered $400m for sale at the foreign exchange auction. The CBN in a statement on its website, said, “Further to our circular Ref. FMD/FED/CIR/GEN/01/082/10 of December, 29 2010, the CBN hereby intervenes […]