Browsing: CBN

Naira Trades Strong despite Marginal Decline in Oil Prices. The Nigeria’s local currency, naira, stands strong and stable amid decline in global prices of oil. In the week, oil prices dropped due to weak demand and partial supply glut with inventory rising speedily.

“Growth to Remain Stagnant if Nigeria Continues to Prioritise FX Stability”. Patrick Curran, a Senior Economist at Tellimer, an emerging market focus investment firm has said Nigeria is muddling through the new normal.

CBN Rationalises Policies to Prevent Imminent Recession. The Central Bank of Nigeria has come out to defend its unorthodox policies, said it will not be deterred in its efforts to steer the economy away from looming recession.

Fixed Income Investors Stay Bullish on Government Securities. In the fixed income market, sentiments were broadly bullish on Tuesday, despite persistent funding pressures in the interbank market.

CBN Debits Banks Ahead of FX Auction for Third Time in 2020. The Central Bank of Nigeria (CBN) has debited 26 banks a total of ₦216.1 billion, attributed to the CRR (Cash Reserve Ratio) compliance requirement.

Nigeria’s Balance of Payment Plunged to Deficit in Q1. The Nigeria’s balance of payment (BoP) has slipped to $11.18 billion deficit in the first quarter of 2020 according to data released by the apex bank.

LDR, CRR: CBN Limits Banks Liquidity to Manage FX Pressure. Analysts have explained that the Central Bank of Nigeria (CBN) policies is putting banks on tight corner follow serial debits for failure to meet loans to deposits ratio target.

Access Bank to Charge Customers for Accrued Stamp Duty. Access Bank Plc said it will need its customers accumulated stamp duty on transactions value at #10,000 and above between February 1 and April 30.

‘FX Scarcity, Supply Chain Disruption Support Rising Inflation’. Analysts have explained the trend behind rising headline inflation rate to include scarcity of foreign exchange, disruption in supply chain among other reasons.

FX Market: Naira Depreciates Against Dollar at IEW. The local currency, Naira, depreciated against the United States dollar (USD) at Investors and Exporters Window (IEW) this week.