OPINION/EDITORIAL

African Currencies Are Under Pressure Amid Higher-for-Longer US Interest Rates

(Credit: Esther Ruth Mbabazi/IMF Photos) May 15, 2023/IMF By Laurent Kemoe, Moustapha Mbohou Mama, Hamza Mighri, and  Saad Quayyum Most Sub-Saharan African currencies have weakened against the US dollar, fanning inflationary pressures across the continent as import prices surge. This, together with a growth slowdown, leaves policymakers with difficult choices as they balance keeping inflation […]

On FEC Approval of the National Blockchain Policy

May 15, 2023/CSL Research The Minister of Communications and Digital Economy, Isa Pantami, during the Federal Executive Council (FEC) meeting held at the state house in Abuja on Wednesday confirmed that the federal government of Nigeria has approved the national blockchain policy. The minister disclosed that the activities outlined in […]

Gross Official Reserves Fell by $246m MoM to $35.3bn in April 2023

May 15, 2023/FBNQuest According to the CBN’s most recent data, Nigeria’s gross external reserves fell by a smaller margin of -USD246m m/m to USD35.3bn in Apr ’23, compared with -USD1.2bn in Mar ’23. The decline represents the ninth consecutive m/m decrease in the official reserves and is broadly consistent with […]