The naira gained for a second day, set for its first weekly advance in three, after foreign inflows into Nigerian bonds. The currency of Africa’s biggest oil producer climbed less than 0.1 percent to 157.3 per dollar at 1:25 p.m. in Lagos, the commercial capital. The naira has added less […]
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G-20 declare no Currency War
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Group of 20 Nations Saturday said it will not embark on currency war; but rather resolved to achieve a lasting reduction in global imbalances through joint actions. This is contained in a Press Statement from the International Monetary Fund (IMF) after the conclusion of […]
House Directs CBN To Stop Using Forex For Local Transactions
The House of Representatives, Thursday, urged the Central Bank of Nigeria (CBN) to stop the use of foreign currencies as means of exchange in local and domestic transactions in Nigeria. The decision was arrived at the plenary following the adoption of a motion brought before the House by Hon. Nadu S. […]
