World News

Nigeria’s debt profile may hit $25bn in 2015

The Debt Management Office gave an indication on Tuesday that the country’s total debt profile might hit $25bn by 2015. The figure covers both local and foreign borrowing. The Director-General of the DMO, Mr. Abraham Nwankwo, had met with the House of Representatives Joint Committee on Finance/Legislative Budget and Research/National […]

External reserves hit $41.12bn

Foreign exchange reserves have risen to more than 29-month high of $41.12bn by September 26, and were up by 7.16 per cent month-on-month, latest figures by the Central Bank of Nigeria have shown. The figures revealed that forex reserves had not been as high as $41.12bn since April 19, 2010, […]

Inter-bank rates fall

Inter-bank lending rates eased marginally last week to an average of 10.58 per cent, from 10.83 per cent the previous week, as market liquidity was boosted by repayment of large funds in matured treasury bills. Dealers said about N95bn ($603.75m) in maturing treasury bills hit the system last week, boosting […]