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The Central Bank of Nigeria (CNN) will hold a special auction on Monday to sell banks U.S. dollars to reduce a backlog of hard currency orders, dealers said.
The central bank had earlier floated the naira after abandoning a peg to the dollar but trading was sluggish.
Nigeria’s removal of fuel subsidies in late May 2023 and the shift toward a more market-reflective foreign exchange regime have…
… Says Nigeria’s higher oil output expected to offset lower international oil prices Monetary policy stances are likely to remain…
Africa’s financial architecture is undergoing a quiet but consequential reset. Governments are reasserting control over strategic assets, leaning more heavily…
British International Investment (BII), the UK’s impact investor and development finance institution, on Tuesday announced it will be an anchor…
