$9 Billion Interventions Beef Up Naira

The Nation has learn that Dollar injections into the financial system estimated at $9 billion on account that February have helped the Central Bank of Nigeria (CBN) to acquire long-term naira steadiness and curb volatility in the overseas alternate (forex) market. The greenback injections were made to enable stakeholders invulnerable adequate forex for their operations, and in the method enhance naira’s stability. The hole between official and black market fees started out to reduce considering Read more [...]

Nigerian Capital Inflows More Than Doubled In Q3 To $4.2 Billion

  The whole fee of capital imported into Nigeria extra than doubled in the third quarter to $4.15 billion, after the financial system emerged from a recession, the National Bureau of Statistics (NBS) stated on Monday. Nigeria’s economy grew in the second quarter, climbing out of its first recession in 25 years, as oil revenues rose. Last 12 months the central bank imposed foreign money controls to prevent a fall down in the Naira, which affected overseas capital inflows. The NBS Read more [...]