by Chijioke Ohuocha of Reuters Nigeria’s naira opened 6.2% lower against the U.S. dollar on the official market on Wednesday as traders quoted the currency close to the over-the-counter spot market rate on indications the government would move to conserve dwindling reserves. In a finance ministry document seen by Reuters […]
Money Market
Ecobank is Supporting Financial Inclusion Via Xpress Points
June 17, 2020/Ecobank Nigeria Ecobank Nigeria says its agency banking scheme, also known as Xpress Points, is building entrepreneurs and pushing financial inclusion to the large unbanked and under-banked population in Nigeria. The lender says its Xpress Points enables eligible Agents to carry out financial transactions on behalf of the […]
The Mystery of Naira Liquidity
June 15, 2020/Coronation Report When a currency is under pressure you expect interest rates to go up, and the long-term (we mean 10-year) lesson is that this generally happens in Nigeria. But is it not happening now. A huge amount of liquidity held by investing institutions (such as pension funds […]
