January 11, 2016 by Emmanuel Asiwe/huhuonline.com Given the deeply entrenched monetary and fiscal policy somersaults that have attended operations of the Central Bank of Nigeria (CBN), for which the Nigerian economy has been thrown into a tail spin, it is almost futile to expect anything good from the apex bank. […]
Tag: FOREX
Nigeria naira eases: c.bank intervention no help
Nigeria’s central bank intervened with dollar sales to lift the naira on Wednesday but strong demand for the U.S. dollar outweighed the move. Dealers said uncertainty about monetary policy following the suspension of central bank governor Lamido Sanusi last week and reduction in foreign portfolio flows continued to weigh on […]
Nigeria’s FX reserves fall sharply in year-to-date
Nigeria’s forex reserves fell to $40.68 billion as of Feb. 24, down 13.8 percent year-on-year, central bank figures showed on Wednesday. Africa’s top oil exporter’s reserves stood at $47.18 billion a year earlier. They have fallen 6.5 percent this year. Nigeria’s central bank has been burning its forex reserves in […]
