Nigeria
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Nigeria downgraded on banking, fiscal fears
Standard & Poor’s lowers Nigeria’s sovereign credit ratings on concern over fiscal flexibility on back of bank bailout
Nigeria suspends trading in troubled banks
Nigerian authorities suspending trading in troubled bank shares and look to foreign investors to restore health
New Nigerian governor criticises Soludo
Lamido Sanusi, confirmed as the new governor of the Central Bank of Nigeria on Wednesday, said he disagreed with his predecessor's plans to re-denominate the naira made back in 2007.
Awkward handover for Nigerian governor
The Nigerian central bank faces considerable uncertainty over the immediate future of the position of its governor.
Nigeria's Soludo to depart?
Charles Soludo, the governor of the Central Bank of Nigeria, is to leave after one term, reports suggest.
Nigeria signs pact to host African central bank
Africa has moved another step closer to establishing a continental central bank after Nigerian lawmakers and African Union officials signed a memorandum of understanding to house the regional hub in Abuja, the country's capital.
Nigeria cuts for first time in seven months
The Central Bank of Nigeria sliced 175 basis points off its key interest rate on Thursday with the scarcity of credit outweighing concerns over inflation.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Nigeria's Soludo: adjustment an opportunity
Charles Soludo, the governor of the Central Bank of Nigeria, has said that exchange-rate adjustment is an opportunity.
Nigeria agrees to house continental central bank
Africa took a step closer to creating a single central bank on Monday after it emerged that the African Union, a body devised to foster economic integration in the region, and Nigeria would sign an agreement to create a regional central bank in Abuja…
Russia, Nigeria devalue, shun "losing battle"
The Nigerian and Russian central banks have both said that they will allow their currencies to depreciate to protect their reserves stockpile. The actions signal Moscow and Abuja have acknowledged that the real values of their currencies have weakened in…
Nigerian FX markets stall on intervention hopes
Nigeria's foreign exchange markets froze on Tuesday as banks waited to see if the central bank would intervene to halt the naira's fall.
Nigeria presses banks to post loan costs
The Central Bank of Nigeria is enhancing transparency for the country's consumers by requiring banks to disclose their loan costs and deposit rates on the internet.
Nigeria acts to counter likely inflationary surge
The Central Bank of Nigeria has raised rates and its cash requirement ratio on concerns that inflation could soar in the coming months.
I was forced out: ex-Nigerian deputy
Wahia Mshelia, a former deputy governor at the Central Bank of Nigeria, has alleged that she was forced to quit after falling out with Charles Soludo, the institution's governor, local media reported on Wednesday. Soludo has denied the claims.
Nigeria raises rates 50bp, flags further hikes
Nigeria's central bank raised rates to 10% and warned that policy would need to tighten in the future with "huge fiscal injections" expected.
Nigeria combats inflation with 50bp hike
The Central Bank of Nigeria's rate-setting board voted on Tuesday to raise rates by half a percentage point to 9.5% in a bid to fight inflation.
Ex-Nigerian finance minister rejoins World Bank
Ngozi Okonjo-Iweala, a former finance and foreign minister in Nigeria, is set to become a managing director at the World Bank.
Nigeria hikes rates
The Central Bank of Nigeria said on Thursday it would raise its benchmark monetary policy rate by a full percentage point to 9%.
Currency reform set for delays - Nigeria's Soludo
Charles Soludo, the governor of the Central Bank of Nigeria, said reforms of its naira currency, set out in mid-August, are on hold until the central bank meets with the government.
New framework for supervision in Nigeria
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) intend to introduce a comprehensive framework for banking supervision and have sent a draft to banks asking for their comments.
Nigeria halts currency redenomination
The Central Bank of Nigeria has suspended its redenomination of the Naira at the request of the country's president, Alhaji Umaru Musa Yar'Adua.
Nigeria's strategy for the new naira
Charles Soludo, the governor of the Central bank of Nigeria, sets out plans for the currency redenomination.