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Nigerian President Muhammadu Buhari), has nominated Dr Kingsley Obiora as Deputy Governor of the Central Bank of Nigeria. He will replaced outgoing Dr Joseph Nnanna.The nominee’s name has already been forwarded to the President of the Senate, Ahmad Lawan, for confirmation by the Senate. In the statement signed and released by Buhari’s Special Adviser on Media and Publicity, … [Read more...] about President Buhari Nominates Dr. Kingsley Obiora as CBN deputy governor
CBN
Nigeria’ll be richer than France, UK by 2050 — Prof. Soludo
Professor Chukwuma Soludo, erstwhile Governor of the Central Bank of Nigeria, CBN said that by 2050 Nigeria’s economy will be ahead of France and the United Kingdom, UK. He made this prediction yesterday at an event organised by the U.S. Consulate General, Lagos to celebrate the 241 independence anniversary of the United States of America, Soludo in his own words:"So if we … [Read more...] about Nigeria’ll be richer than France, UK by 2050 — Prof. Soludo
Naira is falling to nearly N500 to $1
Macroeconomic dislocation and the distressed pressure brought to bear on naira is triggering the precipitously freefall of the value of the Nigeria’s currency. This is now beyond the pale, a disastrous saturation point and if it continues unchecked the naira as we know it will become a worthless currency just like the Zimbabwe currency. Since the official devaluation of … [Read more...] about Naira is falling to nearly N500 to $1
Floating Naira projected to lose up ‘70 percent’ of its value
The floated Nigeria’s naira that has been pegged at 197-199 to a dollar lost over 40 percent of its value on the first day of trading. Unofficial reordered statistics on first day of naira outing revealed that naira was traded as low as 265 to a dollar and at one point nosedived to 288 to a dollar as naira continued to devalue and losing its purchasing power. The Central Bank … [Read more...] about Floating Naira projected to lose up ‘70 percent’ of its value
Naira Floats: IMF prevails as pending doom looms
Here comes the big trouble, for with floating of naira comes massive devaluation, Hyperinflation and higher interest rate. Nigerian government has finally bowed to recommendation by masterly International Monetary Fund (IMF) to devalue naira by allowing the embittered currency to float. Nigerian government cannot be accused of dithering; the government held his own but … [Read more...] about Naira Floats: IMF prevails as pending doom looms