The Asset Management Corporation of Nigeria has so far spent N123.6bn in its intervention programme in four sectors of the economy. The sectors are stock market, manufacturing, agriculture and construction, according to a report by the corporation, which was obtained by our correspondent on Monday. The report showed that AMCON […]
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Naira Falls to 5-Week Low on Oil-Imports Demand, Fewer Dollars
The naira declined for a fifth day, reaching its lowest in more than five weeks on increased demand for dollars by oil importers and as the central bank cut the amount of U.S. currency sold at today’s auction. The currency of Africa’s biggest oil producer weakened 0.1 percent to 158.83 […]
IMF Publishes Revised Guidelines for Foreign Exchange Reserve Management
Press Release The Executive Board of the International Monetary Fund (IMF) endorsed the Revised Guidelines for Foreign Exchange Reserve Management on February 13, 2013. Application of these guidelines should strengthen the international financial architecture, promote policies and practices that contribute to stability and transparency in the financial sector, and reduce […]
