Central Bank of Nigeria

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Nigeria hikes rates to lift naira, fight inflation

July 26, 2016 0

Abuja (AFP) – The Central Bank of Nigeria (CBN) on Tuesday raised its benchmark interest rate to 14 percent from 12 percent in move to stabilise the country’s currency, the naira, and tame soaring inflation. 25

Nigeria: The oil crash has people worried about a new banking crisis

July 7, 2016 0

Nigeria just put its banking system on alert. The Central Bank of Nigeria announced earlier this week that it’s replacing the management of the country’s eighth biggest lender by assets, Skye Bank, after it failed 25