Naira

Nigeria's Interest Rate Hike Sparks Predictions of a Shift in Monetary Policy

26 days ago

Nigeria's Central Bank has recently increased its benchmark interest rate by 50 basis points, now standing at an unprecedented 18.5%. This decision has sent ripples across financial markets and sparked a debate among analysts regarding the future trajectory of Nigeria's monetary policy. Speculations are growing that this move could signify the end of an extended period of stringent tightening.

Nigeria's Largest Bank Set to Launch Dollar Securities Offering

2 months ago

In a groundbreaking move for the Nigerian banking sector, Zenith Bank, Nigeria's largest commercial bank by assets, has announced plans to issue dollar-denominated securities in the domestic market. This strategic decision is positioned to attract investors amidst the backdrop of fluctuating currency values and shifting global economic conditions.

The Naira Achieves Unprecedented Competitiveness Against the US Dollar, Claims Prominent World Bank Economist

2 months ago

In an intriguing development for global financial markets, a leading economist from the World Bank has proclaimed that Nigeria's currency, the Naira, is now more competitive against the US Dollar than it has been in decades. This assessment signifies a dramatic shift in the economic landscape of one of Africa’s largest economies.