Economy: FG’s decision to devalue Naira huge mistake — Thompson
AS Nigerians continue to grapple with harsh economic realities, the Chairman and Chief Executive Officer, CEO, Safe water Energy and Environmental Restoration, SWEER Global, Dr Thaddeaus Thompson, Sunday, said Federal Government’s decision to devalue the Naira was a huge mistake.
Naira devaluation to pressure banks’ assets in 2020 — Moody’s
Moody’s Investors Service said a four percent devaluation of the naira will put further pressure on the quality of banks’ assets.
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.
