Managing a monetary system is hard work in any country. But in Nigeria, Lamido Sanusi, central bank governor, has an additional problem: a surge in US dollar demand as politicians build war chests for an election still 18 months away. The stakes ahead of the presidential 2015 poll, in which […]
Tag: Central Bank of Nigeria
Monetary tightening more likely than easing – CBN
The Central Bank of Nigeria is more likely to tighten monetary policy than ease it in the months ahead, the Governor, CBN, Mr. Lamido Sanusi, has said. “We’re likely to remain where we are but if we’re going to move at all, we’re more likely to tighten than to ease,†[…]
CBN defends naira with $4.6b in two months
The Central Bank of Nigeria (CBN) defended the naira with $4.6 billion in two months, The Nation investigation has shown. The funds were offered and sold in 16 Wholesale Dutch Auctions (WDAS) in August ($2.4million) and September ($2.2million). Findings from the CBN website showed that the apex bank maintained steady supply of […]
