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The new regulations respond in part to the naira’s recent devaluation and depreciation, which have substantially shrunk domestic banking capital in dollar terms. It is the first…
Cardoso replaces former Governor Godwin Emefiele, who is currently facing corruption charges. The Senate also confirmed four deputy governors, making it the first time in the…
Finance Minister Wale Edun on October 23 announced that a major inflow of USD10bn was expected in the coming weeks to ease liquidity in the foreign exchange market. The…
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DOI: 10.1108/OXAN-DB283588
ISSN: 2633-304X
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This aims to lower repayment obligations, reducing interest on the loans from 21.5% to 9.0% with a three-year repayment moratorium. It also looks to increase transparency over…
NIGERIA: Central bank will struggle against inflation
UGANDA: World Bank aid freeze will provoke anger
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DOI: 10.1108/OXAN-ES281122
ISSN: 2633-304X
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These aim for tighter CBN control over the parallel market. The CBN is also seeking to stabilise the currency through bond issuances, cryptocurrency crackdowns and other schemes.
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DOI: 10.1108/OXAN-DB286045
ISSN: 2633-304X
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This follows a January agreement with official creditors, who are owed approximately USD5.4bn. That allowed the country to receive the second disbursement of USD600mn from the IMF…
Cardoso has promised to prosecute any entities involved in making fraudulent claims. The Deloitte audit is one of three concurrent investigations into the bank’s management under…
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DOI: 10.1108/OXAN-DB285419
ISSN: 2633-304X
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The weakness of the Kenyan shilling, which is constantly hitting new record lows, has generated so much concern that, on October 24, parliament summoned the central bank governor…