August 21, 2023/CSL Research Money Supply statistics from the Central Bank of Nigeria (CBN) as of June 2023 showed that currency in circulation increased month-on-month by 3.03% in June to N2.6trn from N2.53trn as of May 2023. Also, currency outside banks rose month-on-month by 3.94% to N2.26trn (representing 86.93% of […]
Money Market
S&P Global Ratings Revised Outlooks On 12 Nigerian Banks to Stable After Same Action on Sovereign; Several National Scale Ratings Raised
August 18, 2023/ S & P Global Ratings S&P Global Ratings revised its outlook on Nigeria to stable from negative on Aug. 4, 2023, based on reform initiatives. We do not rate financial institutions in Nigeria above the sovereign foreign currency sovereign ratings, due to the direct and indirect effect […]
The Struggle to Save the Naira
August 18, 2023/CSL Research Since the unification of all the official foreign exchange (FX) windows, the Naira has declined by 61.04% to N745.43/$ as of 17 August 2023 from N462.88/$ (price prior to the new policy) at the I&E Window. However, the real shocks of the policy were witnessed in […]
