The nation’s external reserves, which have risen steadily since last year due to reasonably high oil prices and stability in the foreign exchange market, rose higher to $47bn on February 21, 2013. Data obtained from the Central Bank of Nigeria’s website on Friday showed that the reserves recorded $2.68bn appreciation […]
More News
Naira hits four-week high on dollar sales
The naira appreciated the most in four weeks as an oil producer was said to sell dollars to lenders, boosting supply, Bloomberg reported on Friday. The currency of Africa’s biggest oil producer climbed 0.2 per cent to N157.25 per dollar as of 12:57 p.m. in Lagos, the commercial capital. The […]
Single-digit inflation depends on monetary easing â€â€ÂAnalysts
Analysts and stakeholders have called for monetary easing by the Central Bank of Nigeria as the average inflation rate forecast for 2013 is in single digit, Ademola Alawiye writes Efforts by the Central Bank of Nigeria to attain a single-digit inflation rate finally came to pass last week as the […]
