The Central Bank of Nigeria has said that the total foreign exchange inflow into the economy in 2011 amounted to $105.11bn, an increase of 19.3 per cent above the level in 2010. The CBN, in a publication on Monday, said that the development resulted from a significant growth in inflow […]
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Two U.S. states probing banks over Libor manipulation
By Karen Freifeld WASHINGTON (Reuters) – New York Attorney General Eric Schneiderman has launched a probe into possible manipulation of the Libor benchmark international lending rates by global banks, his spokesman said on Sunday. Schneiderman joined Connecticut’s Attorney General George Jepsen to start the investigation six months ago into the […]
High interest rate compounding Nigeria’s debt burden – Experts
The Central Bank of Nigeria’s 12 per cent benchmark interest rate is one major factor that has led to the increased debt burden facing the country, experts have said. They noted that until the CBN reviewed the Monetary Policy Rate downward, Nigeria might keep finding it tough to reduce its […]
