Category: BDCs
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Naira Declared World’s Best Performing Currency in April
On April 12, 2024, the Naira closed at N1,142/$, supported by frequent interest rate hikes and capital inflows. The Goldman Sachs Group has recently noted that the Naira has established itself as the world’s best-performing currency in April, with expectations of extending its reign despite ongoing policy management challenges by the Central Bank of Nigeria…
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CBN to Clear Forex Obligation Backlog in Two Weeks, Plans Clampdown on Illegal operators
Nigerian businesses from manufacturers to importers, who have been on a long queue for dollars may have cause to heave a sigh of relief as the Central Bank of Nigeria (CBN) has announced plans to clear foreign exchange (Forex) backlog obligations in the next two weeks. Acting Governor of the CBN, Adebisi Shonubi at a…