Nigerian FX market watch: CBN: Banks must increase lending to grow GDP
21 November 2019 | 1:56 pm
The Central Bank of Nigeria (CBN) says the aggregate foreign exchange inflow into Nigeria reached $10.89 billion in October while outflow from the economy was $5.1 in the same period. Director at Zedcrest Capital, Oluseyi Akinbi joins CNBC Africa to discuss stories around Nigeria’s fixed income market. (CBN) says the aggregate foreign exchange inflow into Nigeria reached $10.89 billion in October while outflow from the economy was $5.1 in the same period. Director at Zedcrest Capital, Oluseyi Akinbi joins CNBC Africa to discuss stories around Nigeria’s fixed income market.
31 Dec 2019
The Ukrainian government has exchanged 200 prisoners with Russian-backed separatists in a pre-planned exchange. The swap may indicate the start of a better working relationship between Russia and Ukraine.
4 Mar 2020
The Nigerian Stock Exchange, sub-Saharan Africa's second biggest, has won approval from its members to become a listed company.
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Amid travel bans and warnings on both sides of the Atlantic, organizers of exchange programs scrambled to get their young participants back home. Those affected describe an experience marred by confusion and frustration.
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Traders say they expect activity at the bond market to pick up today, on the back of the unmet bids at Wednesday's bond auction as well as the improvement in liquidity. Oluwatosin Ayanfalu, Fixed Income Broker at Zedcrest Capital joins CNBC Africa to review today’s trading at Nigeria’s fixed Income and Forex market.
8 Apr 2020
The success of the US-brokered peace pact in Afghanistan is dependent on a prisoner swap between the Afghan government and the Taliban. The Taliban has said they will no longer take part in these "fruitless meetings."
14 Apr 2020
The US special envoy who negotiated a deal with the Taliban says a first prisoner swap between the rebels and the government has been a step toward peace. He said the coronavirus threat made the swap even more urgent.
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US President Donald Trump abruptly ended his press conference after an exchange with CBS News reporter Weijia Jiang who asked him why when Americans were losing their lives did he keep insisting that the US was doing better than other countries when it came to testing.
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Police examine the scene after four gunmen attacked the Pakistan Stock Exchange in Karachi on Monday. An exchange board member says the attackers were "fully armed and equipped with machine guns."
7 Jul 2020
No doubt Nigeria's currency has come under pressure in recent months; the Central Bank of Nigeria says it is working towards the gradual unification of exchange rates. But what does the CBN's recent move in asking lenders to bid for dollars at 5 per cent above the official rate mean for the markets going forward? Victor Aluyi, Head of Portfolio Management at Comercio Partners joins CNBC Africa for more.
3 Sep 2020
In a circular, the Central Bank of Nigeria directed that Form M for Letters of Credit, Bills for Collection and other forms of payment should only be opened in favour of the ultimate supplier of the product or service. Reacting to this directive, the Lagos Chamber of Commerce and Industry says while the policy attempts to curb abuses in the foreign exchange market, it would create more problems than it would solve. Muda Yusuf, Director-General of the LCCI joins CNBC Africa’s Christy Cole for this conversation.
20 Sep 2020
These are trying times for Nigeria's economy, as an expected recession means the government has to take pro-active steps to mitigate the impact of the recession and recover in the shortest period. Meanwhile, President Buhari has asked the Central bank of Nigeria to stop issuing foreign exchange for food and fertilisers imports. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa’s Kenneth Igbomor to assess the state of the Nigerian economy.
4 Oct 2020
Azerbaijani and Armenian forces battled for a second day after dozens were killed in an outbreak of heavy fighting that has raised fears of an all-out war between the longtime enemies.
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At the start of a trip to Democratic Republic of Congo, Pope Francis has said that Africa is not a "mine to be stripped" as he took aim at the "poison of greed" fueling conflicts on the continent.
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We know a lot about how mummies were embalmed, but the specific substances and mixtures and how exactly they were used have long eluded us — until now.
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With his appointment, the 34-year-old Israeli musician adds another top-notch orchestra to his portfolio. Shani's predecessor, Valery Gergiev, was fired in 2022 after failing to condemn Russia's invasion of Ukraine.
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In some species of anglerfish, including a very rare footballfish (Himantolophus melanolophus), the small male tracks down a female and bites on to her. When she releases her eggs, he fertilises them then swims off into the dark to search for another mate.
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The FBI search of the president's second home in Delaware has ended without classified documents being unearthed. Classified documents had previously been found in Biden's other home and a former office.