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Nigeria devalues naira as part of path to single exchange rate

Nigeria’s central bank devalued the naira by 7.6% against the dollar as authorities in Africa’s biggest oil producer migrate toward a single exchange-rate system for the local currency. The Abuja-based Central Bank of Nigeria replaced the fixed rate of 379 naira to a dollar used for official transactions with the more flexible nafex, also known as the investors and exporters exchange rate, that has averaged 410.25 naira per dollar this year, according to data on its website on Tuesday. “W...
South Africa Neville Mandimika Hill Denham Mohamed Abu Basha Omotola Abimbola Godwin Emefiele

Grafham Water Sailing Club Restart Series Week 4 & Overall

Grafham Water Sailing Club Restart Series Week 4 & Overall by Nigel Denchfield & Peter Gee 29 Apr 15:05 BST 24-25 April 2021 Dave Philpott and Susie Sonntag won Race 10 and 11 of the Slow Double-hander fleet in their Flying Fifteen in the Grafham Water SC Restart Series © Paul Sanwell / OPP An icy Force 4 wind greeted the 60 boats who entered the final day of the Restart series at Grafham Water Sailing Club. The discussion in the dinghy party was not about who could...
United Kingdom Dan Wigmore Simon Wigmore Nigel Denchfield Peter Gee Kevin Cummerson Phil Bevan

Nigeria's series of economic policy missteps deter investors on high-yielding assets as oil price spikes

By Tope Alake Nigeria’s series of economic policy missteps in recent weeks highlighted some of the uncertainties investors face in buying into its high-yielding assets and Analysts Concern that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsidies that have been a drain on state coffers in the past to creep back by allowing pump prices to stay low as the price of crude rose. Then th...
Al Qahirah City Of United Kingdom Simon Quijano Evans Erik Renander Duet Group

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsi...
Al Qahirah City Of United Kingdom Simon Quijano Evans Erik Renander Duet Group
Source: msn.com

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Nigeria Wastes Oil Reprieve as Policy Muddle Deters Investors

Nigeria Wastes Oil Rally as Policy Muddle Deters Investors Bloomberg 3/10/2021 Tope Alake (Bloomberg) -- Nigeria isn’t making it easier for foreign investors to buy into its high-yielding assets. A series of policy missteps in recent weeks highlighted some of the uncertainties investors face, and raised concerns that Africa’s biggest economy is missing an opportunity created by rising oil prices to attract much-needed foreign currency. First, the country allowed fuel subsi...
Al Qahirah City Of United Kingdom Simon Quijano Evans Erik Renander Duet Group
Source: msn.com

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