Speculators eroding Nigerian naira's value-c.bank

The Central Bank of Nigeria said on Tuesday it had provided a total of $6.7 billion in funding for the domestic foreign exchange market this year but that speculators had robbed the economy of the benefits.

"We have spent $6.7 billion on funding the inter-bank foreign exchange market (IFEM) this year alone," bank governor Joseph Sanusi told a media briefing. "Yet it has not impacted on job creation and productive purpose in the economy," Sanusi said. "Most of the foreign exchange demand are

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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