Nigeria
Nigeria needs more reserves and better inflation controls, says Fitch
Nigeria will need to further increase the size of its foreign exchange reserves and keep inflation in closer check if it wants to secure investment-grade status by 2020, says Fitch
African central bankers embrace a new world order
Africa’s central bankers are adopting new approaches to managing their reserves as trade with Brics rises and the influence of developed nations wanes
Nigeria rolls out ‘cash-less’ Lagos project
Central Bank of Nigeria issues clarifications as cash-less society is introduced in Lagos; reassures public that cash transactions have not been eliminated altogether
Lagarde applauds Nigerian sovereign wealth fund creation
Christine Lagarde makes first visit to Africa since becoming managing director of the IMF; hails creation of Nigerian sovereign wealth fund as an “important advancement”
NALM Africa 2011: African central banks rethink reserves allocations
The drop-off in US Treasury yields and concern about a eurozone sovereign collapse has prompted a number of African central banks to review their reserves allocations
Sanusi reveals ‘strategic’ decision to hold renminbi reserves
Governor of the Central Bank of Nigeria explains why he made the decision to convert some of the country’s reserves into renminbi; says Nigeria left it “too late” to buy gold
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Central banks’ flight to safety in reserve holdings continues
Reports continue to emerge from around the world of central banks diversifying their foreign currency reserves and adding to gold holdings
Nigeria banking gets back on its feet
Deputy governor Kingsley Chiedu Moghalu explains how the Central Bank of Nigeria has restructured the country’s banking sector and regulatory architecture since the financial crisis
Nigeria unveils payments system overhaul
Payments system faces complete overhaul in 2012; aim is to reduce reliance on cash
West African central bankers receive training in debt managment and corporate governance practices
West African Institute for Financial Management works with IMF and World Bank to train region’s central bankers
Nigeria stands by Sanusi’s government barbs
Central Bank of Nigeria maintains governor Sanusi Lamido Sanusi’s assertion that legislative branch absorbs quarter of all government overheads; comments spark anger from politicians
Nigeria to launch new mobile payments system
Central Bank of Nigeria grants licence to create system that will provide banking services to all with a mobile phone
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
Nigeria close to setting up sovereign wealth fund
President Goodluck Jonathan proposes legislation to national assembly that will pave the way for a sovereign wealth fund, say reports
Nigeria’s bad bank comes to life
Nigerian President signs bill approving creation of bad bank to take $10 billion in toxic loans off beleaguered banks’ balance sheets; agency to be up and running by end-September
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting
Nigerian central bank chief Sanusi Lamido Sanusi explains why he had to “decimate” opposition to his sweeping bank reforms; says Volcker rule poses no conflict with the true task of banks
Nigeria under attack from government aide over reforms
Nigeria’s National Security adviser General Gusau says central bank's reforms are hampering country's recovery
Nigeria slashes deposit rate to ease lending
Central Bank of Nigeria knocks 100 bps off deposit rate and extends quantitative easing programme to promote lending to the real sector
How Africa’s bond markets can continue to progress
The impressive growth of debt markets in sub-Saharan Africa is a credit to the region’s authorities. But more can be done, writes Paul-Harry Aithnard, the group head of research at Ecobank
Ex-Nigeria chief loses state governor race
Nigerian ex-governor Charles Soludo places third in the bid for governorship of the resource-rich Anambra state after a spirited campaign
Nigeria tackles subdued growth
Nigeria’s central bank holds rates, but introduces a corridor around key rate to encourage lending