The Central Bank of Nigeria has mopped up over N4tn from the system since the beginning of the year, a report has shown. According to a report obtained from the Financial Derivative Company Limited on Thursday, the amount mopped up represents 25 per cent of total money supply. The Managing […]
World News
Naira Falls to 5-Week Low on Corporate Demand After Auction
The naira reached its lowest in five weeks against the dollar as companies increased demand for the U.S. currency after the central bank sold less than the amount offered at an auction today. The currency of Africa’s biggest oil producer declined 0.2 percent to 158.95 per dollar by 3:10 p.m. […]
Euro steady versus dollar but bets rise for an ECB rate cut
The euro had fallen after a survey by Germany’s Ifo think-tank showed business sentiment dropped for a second month in April, fuelling concerns about the health of the euro zone’s largest economy. The euro was already vulnerable after German PMI data on Tuesday showed business activity dropping sharply in April. […]
