Nigeria’s naira rebounded from a record low against the dollar after the central bank of Africa’s second-largest economy said it intervened in the market and has enough reserves to keep defending the currency. “There is a great need to defend the currency because we don’t want volatility,” Central Bank of […]
Tag: Central Bank of Nigeria
Credit to Nigeria’s economy hits N14tr
The aggregate banking system credit (net) to the domestic economy grew by 3.4 per cent monthly to N14.09 trillion, Central Bank of Nigeria (CBN) Economic Report for November, last year has said. The report also said the figure showed a growth of 4.1 per cent compared with that of the […]
Nigeria central bank confident it can defend naira after intervention
Nigeria’s central bank intervened to stabilise the naira on Thursday, deputy governor Sarah Alade told Reuters, after the currency fell to an all-time intraday low of 167 to the dollar. She added that, with $42 billion of reserves, she was confident the bank would be able to maintain the currency […]
