The dwindling external reserves, which is currently at $43.2bn, has been putting speculative pressure on the naira, latest economic bulletin from the Lagos-based research and financial advisory firm, Financial Derivatives Company Limited, has shown. The development, according to the firm, may make the Central Bank of Nigeria’s Monetary Policy Committee […]
Tag: Naira
CBN defended naira with $26.6bn in 2013 – Report
In a bid to save the naira from devaluation last year, the Central Bank of Nigeria defended the currency with approximately $26.6bn from the nation’s external reserves; findings by our correspondent have shown. Information obtained from the CBN website on Monday revealed that the bank sold about $26.6bn to currency […]
Nigerian finance resurges but investors still shy
Nigeria’s financial markets posted healthy gains in 2013 but five years on from the global financial meltdown, local investors are still wary of sinking their money into stocks. The market capitalisation of the nearly 200 listed companies on the Nigeria Stock Exchange (NSE) rose by 41 percent in the 12 […]
