CBN Battles Recession, Raises COVID-19 Facility To N300bn
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday said the bank would raise its COVID-19-targeted facility from N150 billion to N300 billion in order to accommodate more Nigerians in a bid to cushion the impact...
Naira In Mixed Fortunes As External Reserves Drop To 5mths Low
Despite the renewed pressures on the external sector, Naira has appreciated in the Investors & Exporters (I&E) window of the currency market.
But this came at the backdrop of a decline in external reserves just...
CBN MPC members Express Worry Over High Demand Pressure In Forex
Some members of the Monetary Policy Committee of the Central Bank of Nigeria have expressed concerns over the high demand pressure in the nation’s foreign exchange market.
The MPC members voiced their concerns at the...
Businesses, Govts Count Losses To #EndSARS Protests
At the backdrop of the destructions of public and private properties and businesses in the wake of the #EndSARS protests, businesses have been counting their losses while economy experts have listed the immediate challenges the crises have thrown...
W/Bank Projects Oil Price Of $44 In 2021
The World Bank has said that oil prices won’t be rising much next year either, but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.
In its semi-annual Commodity...
External Reserves Drop By $35.67bn
Nigeria’s external reserves, last week, fell for the fourth consecutive week to $35.67 billion even as the naira depreciated to N462 per dollar in the parallel market.
Data from the Central Bank of Nigeria (CBN) shows that the reserves fell to...
