Indications have emerged that Nigeria’s economy is rallying from negative to positive growth in the second half of 2017, if data from the Central Bank of Nigeria’s Purchasing Managers’ Index, PMI, and global rating agency, Fitch’s, are anything to go by.

The Central Bank of Nigeria (CBN), yesterday, injected $250 million into the foreign exchange market.

The Central Bank of Nigeria (CBN), Monrday, intervened in the Inter-Bank Foreign Exchange Market to the tune of $250m in three segments of the market.

THE interbank money market will, this week, receive liquidity boost of N193 billion from maturing treasury bills prompting further decline in cost of funds.
Last week, the market was gripped with intense scarcity of funds, which caused cost of short term funds to rise above 100 per cent in the first half of the week, before dropping below 15 per cent in response to inflows from matured treasury bills (TBs) and statutory allocation funds.

The Federal Government weekend blamed Nigerian entrepreneurs for refusing to take advantage of the N200 billion made available by the Central Bank of Nigeria, CBN, for them to improve their lives and wriggle out of the current economic recession.