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Vanguard News Nigeria redeems $500m Eurobond   The Debt Management Office (DMO) has announced that Nigeria’s 6.75% $500M JAN 2021 Eurobond, which matured on January 28, 2021 (yesterday) will be redeemed. For this purpose, funds have been made available by the Federal Government of Nigeria to the Fiscal Agent to repay the principal sum of $500 million and the final interest payment due on the Eurobond.   The DMO said in a statement, yesterday, “By this development, Nigeria continues to demonstrate in practical terms, its commitment towards honouring all its debt service obligations as an...

editorJanuary 17, 2021 5:10 Am Obinna Chima Fitch Ratings has predicted that Nigeria’s external reserves would rise to $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the website of the Central Bank of Nigeria (CBN). In a report titled, “Depreciatory Pressures on Key Sub-Saharan African Currencies to Lessen,” the global credit rating agency hinged the forecast on its expectation that Brent crude would average $53 per barrel, compared to the $43.1 per barrel recorded in 2020. Moreover, the agency anticipated tha...

Punch Newspapers Sections It had earlier exchanged for 473/$ for most of last week. At the Investors & Exporters forex window, it closed at N388/$ after it had reached a high of N415/$. The country’s external reserves rose by $930m from $35.37bn as of December 31, 2020 to $36.30bn as of January 14, 2021, figures from the Central Bank of Nigeria had revealed. According to the Association of Bureaux De Change Operators of Nigeria, the Central Bank had continued to ensure it achieved exchange rate stability. It had also continued to ensure that foreign exchange was made available to manufactur...