After saving billions of naira, LASGEMS goes comatose
THE Lagos State Government Education Management System, LASGEMS, which was set up by an act of parliament in 2007, took the nation’s education management space by storm, as it was the first of its kind.
Equities defy Naira devaluation
INVESTMENT analysts have said that the move, Friday, by the Central Bank of Nigeria (CBN) to devalue the naira may not have significant impact on the equities market. The market closed positive with investors’ gain at N62 billion on Friday just as CBN moves was happening.
CBN devalues naira as analysts appraise market situation
AS the Coronavirus, COVID-19, pandemic continues to take toll on the Nigerian economy, the Central Bank of Nigeria, CBN, has technically devalued the naira to reflect market conditions as analysts and market operators said they are not surprised.
CBN technically devalues Naira in I&E window
At the backdrop of the ravaging impact of the Coronavirus (COVID-19) global economic fallouts the Central Bank of Nigeria, CBN has technically devalued the Naira at the Investors and Exporters (I&E) window of the nation’s foreign exchange market. The local currency traded at N380/$1 average across the various markets. The I&E window is a special […]
DEVALUATION FEVER: Portfolio investors pull-out
Driven by fears of a likely devaluation of the local currency, the Naira, at the backdrop last week’s crash in oil price foreign portfolio investors (FPIs), last week, ramped up their exit from the fixed income market with massive sell-off of their holdings in the Nigerian Treasury Bills, NTBs, and bonds.
Price of the Nigeria’s Bonny Light crude oil grade (Nigeria’s key revenue and foreign exchange source) dropped to $33.15 per barrel on Friday from peak $72.18 in January, threatening the country’s 2020 budget funding as well as meeting demands for foreign exchange by importers and foreign investors.
Coronavirus: No plan to devalue Naira ― CBN
Threatens sanctions against speculators Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has not devalued the Naira and vowed to sanction authorised dealers found to be involved in currency speculation. According to the Director, Corporate Communications, “Market fundamentals do not support Naira devaluation at a time” He said in a statement “the […]
