March 23, 2020/Cordros Report On Friday, the CBN announced a “re-alignment” of the currency, moving the official rate upwards from NGN305.00/1USD to NGN360.00/1USD. This move came amid the deteriorating macroeconomic picture following the crash in the prices of crude oil. Beyond that, the CBN also effected a non-parallel upward shift […]

March 20, 2020/Fitch Rating The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) published today. “The level of world GDP is falling. For all intents and purposes we are in global recession territory,” said Brian Coulton, chief economist at […]

March 20, 2020/OilPrice.com The rebound in oil prices on Thursday didn’t last long as bearish sentiment once again took hold on Friday morning, with some analysts contemplating the possibility of $5 WTI. Friday, March 20th, 2020 Oil prices rebounded on Thursday on hopes of a trillion-dollar stimulus package from Washington, […]