Nigeria
Nigeria combats inflation with 50bp hike
The Central Bank of Nigeria's rate-setting board voted on Tuesday to raise rates by half a percentage point to 9.5% in a bid to fight inflation.
Ex-Nigerian finance minister rejoins World Bank
Ngozi Okonjo-Iweala, a former finance and foreign minister in Nigeria, is set to become a managing director at the World Bank.
Nigeria hikes rates
The Central Bank of Nigeria said on Thursday it would raise its benchmark monetary policy rate by a full percentage point to 9%.
Currency reform set for delays - Nigeria's Soludo
Charles Soludo, the governor of the Central Bank of Nigeria, said reforms of its naira currency, set out in mid-August, are on hold until the central bank meets with the government.
New framework for supervision in Nigeria
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) intend to introduce a comprehensive framework for banking supervision and have sent a draft to banks asking for their comments.
Nigeria halts currency redenomination
The Central Bank of Nigeria has suspended its redenomination of the Naira at the request of the country's president, Alhaji Umaru Musa Yar'Adua.
Nigeria's strategy for the new naira
Charles Soludo, the governor of the Central bank of Nigeria, sets out plans for the currency redenomination.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Central Bank of Nigeria 2006 annual report
The Central Bank of Nigeria notes in its annual report for 2006 that macroeconomic stability was achieved through non-accommodating monetary policy and prudent fiscal policies by the federal government.
Nigerian central banker becomes finance minister
The president of Nigeria, Umaru Yar'Adua, appointed Shamsuddeen Usman, a deputy governor at the country's central bank since 1999, as finance minister.
Soludo on the Nigerian banking system
Following controversy over Springbank, the governor of the Central Bank of Nigeria, Charles Soludo, sought to reassure the public in this briefing that the banking system is safest and soundest it has ever been in its history.
Why all the fuss about reserve management?
This article published Tuesday 15 May by Business Day asks why the Central Bank of Nigeria is so concerned about local banks shoring up on reserve management skills.
CBN says currency change won't affect ECOWAS
The governor of Central Bank of Nigeria, Professor Charles Soludo, has said currency restructuring by the Federal government will not affect plan for common denomination by ECOWAS countries.
Nigeria to get more efficient payment system
The Central Bank of Nigeria (CBN) is to implement a robust and more efficient payment system in the country, the official News Agency of Nigeria reported on Monday 4 December.
Nigeria's Soludo 'pressured' on foreign reserves
The governor of the Central Bank of Nigeria, Prof. Charles Soludo, has said he is under pressure from politicians to use the central bank's foreign reserves.
Nigeria plans an oil investment fund
The Central Bank of Nigeria said it is working on a national investment fund that will manage a proportion of its external reserves.
Central Bank of Nigeria - Annual Report 2005
According to the Central Bank of Nigeria's Annual Report 2005, the performance of the external sector further improved in 2005 with an overall balance of payments surplus of N1,364.8 billion, or 9.2 per cent of GDP.
Nigeria removed from FATF list
In an announcement issued on Friday 23 June the Financial Action Task Force (FATF) announced that Nigeria has been removed from the Non-Cooperative Countries and Territories (NCCT) list.
Central Bank of Nigeria - Annual Report 2004
According to the Central Bank of Nigeria's Annual Report 2004, the performance of the external sector improved significantly as the overall balance of payments position swung from a deficit in 2003, to a surplus in 2004.
DAS: Why is CBN fooling Nigerians?
According to this article published on Monday 27 February , the various exchange rate mechanisms whether christened FEM, IFEM, AFEM, or DAS, could never claim to be truly market determined and have all without exception, eventually led to the…
Nigeria introduces new Forex system
Nigeria introduced the new wholesale Dutch Auction System (DAS) of foreign exchange allocation on Monday 20 February to replace the old retail DAS in a bid to further liberalise the country's Forex system.
Arrests follow attack on Soludo's father
Police in Nigeria have arrested two men following an attack on the father of the governor of the Central Bank of Nigeria.
Comment: Nigeria's CB wins praise
In the statement accompanying its BB minus long-term credit rating for Nigeria, the rating agency Fitch this week applauded policymakers' "strong commitment to economic reform", including "measures to rationalise the banking system" implemented by the…
Interview with CBN's Charles Soludo
Speaking on Thursday 19 January Central Bank of Nigeria governor Charles Soludo forecast 2006 inflation to fall to "single digits", probably nine percent, and said 2005 price growth had likely been 12 percent, just above the 10 percent target.