August 31, 2016/Reuters By Chijioke Ohuocha and Alexis Akwagyiram Nigeria, Africa’s biggest economy, officially slid into recession for the first time in more than 20 years as the statistics office announced a further contraction in the second quarter of the year. The Nigerian Bureau of Statistics (NBS) said on Wednesday […]
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Nigeria recession sends bonds to lowest in more than two weeks
August 31, 2016/Reuters Nigeria’s sovereign dollar bonds fell across the curve to their lowest level in more than two weeks after official data showed the economy contracted by 2.06 percent in the second quarter, sending Africa’s biggest economy into its first recession for 25 years. The 2023 issue chalked up […]
Nigeria’s foreign reserves fall to $25.45 bln by Aug.29
August 31, 2016/Reuters Nigeria’s foreign exchange reserves fell to $25.45 billion by Aug. 29, down 2.86 percent from the previous month, central bank latest data showed on Wednesday as the bank stepped up support for its ailing currency. Dollar reserves of Africa’s largest economy stood at $26.20 billion in end […]
