Money Market

Naira Closes N197.10/$1 as Pressure mounts on further Devaluation

By InvestAdvocate Lagos (INVESTADVOCATE)- The Central Bank of Nigeria (CBN) said on Thursday the interbank market rate closed at N197.10/$1 at the end of the day’s transactions compared to N202/$1 it closed on Wednesday. Nigeria on Thursday shut down the interbank market for the second consecutive day as the naira […]

CBN Disburses N39.53 Billion Second Batch Electricity Market Stabilization Fund

Feb 12, 2015/CBN Barely a week after it disbursed the sum of N18.26 billion to the first batch of beneficiaries of the N 213 Billion Nigeria Electricity Market Stabilization Facility (NEMSF), the Central Bank of Nigeria, on Wednesday, February 11, 2015, disbursed another sum of N39.53 billion to the second […]

Interbank Market Closed Again on Naira Crumble

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria on Thursday shut down the interbank market for the second consecutive day as the naira continued to crumble due to falling oil prices, postponement of Feb. 14 elections and an Islamist insurgency. A Reuters report said shortly after triggering a self-imposed ‘circuit-breaker’ agreed among […]