The Central Bank of Nigeria (CBN) confirms our position that a fall in Foreign Portfolio and Direct Investment remain the biggest contributor to the recession in Nigeria. Nigeria foreign currency reserves were not funded solely by oil sales but by… Continue Reading
Fitch revised the outlook on Nigeria to negative from stable over concerns that a lack of foreign exchange will hamper the economy, and affirmed the west African nation’s rating at B+, four steps below investment grade. While Nigeria’s economy will… Continue Reading
Let me make it clear so we understand. We are broke….in US dollar terms. We can print Naira and pay salaries but we cant print dollars to fund imports. So we need dollars…. What have we done? 1. We stopped… Continue Reading
