Economic growth probably gained steam in the first quarter on strong consumer spending, but the momentum is already ebbing and could slow further as the impact of automatic government spending cuts kick in. Gross domestic product likely expanded at a 3.0 percent annual rate, according to a Reuters poll of […]
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CBN mops up N4tn from circulation
The Central Bank of Nigeria has mopped up over N4tn from the system since the beginning of the year, a report has shown. According to a report obtained from the Financial Derivative Company Limited on Thursday, the amount mopped up represents 25 per cent of total money supply. The Managing […]
Naira Falls to 5-Week Low on Corporate Demand After Auction
The naira reached its lowest in five weeks against the dollar as companies increased demand for the U.S. currency after the central bank sold less than the amount offered at an auction today. The currency of Africa’s biggest oil producer declined 0.2 percent to 158.95 per dollar by 3:10 p.m. […]
