January 28, 2016/Reuters Nigeria’s President Muhammadu Buhari is against devaluing the naira, his office said on Thursday, backing the central bank’s stance of keeping rates unchanged in the face of sharp falls against the dollar on the black market. The central bank decided on Tuesday to keep the current official […]
Tag: Naira
CBN Retains 11% Interest, FOREX Rate Unchanged
Click here to download CBN Communiqué No. 105 of the MPC Meeting of Monday and Tuesday, January 2 5 and 26, 2016 By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) at the end of Tuesday’s Monetary Policy Committee (MPC) meeting retained Nigeria’s benchmark interest rate at 11 […]
S & P Says Nigeria will have to Gradually Devalue Naira in 2016
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Rating services firm, Standard & Poor’s said on Thursday Nigeria will have to devalue the naira at some point in 2016 and in gradual adjustments, according to a Reuters report. The report affirmed that investors have seen a devaluation of the naira as long overdue […]
