Nigeria’s currency is at risk of being devalued after President Goodluck Jonathan suspended the central bank governor last week, eroding confidence in monetary policy and sending the naira to a record low. The naira, which rose for the first time in six days yesterday, posted its biggest five-day drop in […]
Tag: Naira
Nigeria’s next central bank chief a steady hand, who’ll keep out of politics
* New governor likely to continue tight monetary policy * Central bank will be expected to stay out of politics * Governor will have challenge of defending the naira Nigeria’s incoming central bank governor Godwin Emefiele is seen as a steady hand who will maintain tight monetary policy in the […]
Nigeria’s naira hit record low of 169 to dollar before trading stopped
Nigeria’s naira fell to a record low of 169 to the dollar before trading stopped on Thursday owing to volatility caused by the suspension of central bank governor Lamido Sanusi, several dealers said. Source: Reuters
