Tag: Central Bank Governor

bnlpulse July 12, 2020

Nigerian Currency Devaluation Sows Confusion With Traders, Naira devalued by 5.5% against dollar

Nigeria’s latest devaluation of the official naira rate -- one of the West African nation’s multiple exchange rates -- has left traders perplexed. The currency’s official value was reduced by…

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bnlpulse July 7, 2020

In Move to Unify exchange rates, CBN debits banks N122bn

In move to unify its multiple exchange rates,Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction…

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bnlpulse July 6, 2020

Amid Plans to Unify Multiple Exchange Rates, Naira weakens by 5.3% at Currency Auction

  Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter. The weakening comes after Governor Godwin Emefiele announced last month…

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bnlpulse May 29, 2020

Central Bank of Nigeria cuts benchmark lending rate to 12.5%

Nigeria’s central bank cut its benchmark lending rate to 12.5% from 13.5%, the central bank governor said on Thursday. Central Bank Governor Godwin Emefiele said seven of the 10 members…

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