World Bank President Robert Zoellick said Wednesday he is stepping down, raising the possibility that a non-American might be chosen for the first time to head the 187-nation lending organization. Zoellick, 58, informed the board he will leave June 30 at the end of a five-year term, during which he […]

Nigeria’s foreign exchange reserves rose just over 4 percent on the month to $35.03 billion on Feb. 13, their highest in six months, central bank data showed on Wednesday.  Reserves a year ago stood at $34.44 billion.  Reserves had been declining for the last three years despite record high prices […]

Nigeria’s naira strengthened both on the interbank market and at the central bank’s foreign exchange window on Wednesday, supported by the sale of $425 million by state-owned energy company NNPC and two other oil firms to banks. The naira closed at 158.40 to the dollar on the interbank, its strongest […]