Policy

Fitch Ratings gives ‘B+’ to Nigeria’s debt notes
Policy

Fitch Ratings gives ‘B+’ to Nigeria’s debt notes

Fitch Ratings has assigned Nigeria’s USD1.5 billion 6.500% senior unsecured notes due 28 November 2027 and USD1.5 billion 7.625% senior unsecured notes due 28 November 2047 the final rating of ‘B+’. The final rating replaces the expected rating of ‘B+(EXP)’ that Fitch assigned on 15 November 2017. KEY RATING DRIVERS […]

Nigeria’s inflation falls to 15.91% in October
Ination

Nigeria’s inflation falls to 15.91% in October

The National Bureau of Statistics, NBS, said Nigeria’s headline inflation for October fell slightly to 15.91%. The downward trend in inflation for the month of October is, however, slower compared to 15.98% disclosed for the month of September. Nigeria is Africa’s largest economy by gross domestic product. The country has […]

Nigeria targets inflation rate of 12.4% for 2018
Policy

Nigeria targets inflation rate of 12.4% for 2018

Africa’s largest economy, Nigeria, said it is targeting about 12.4% inflation rate for the year 2018. The latest projection was stated in the budget presentation for 2018 as presented to the joint committee of the National Assembly by President Muhammadu Buhari. The government also targets to earn about NGN4.1 trillion […]

Nigeria, ECOWAS, World Economies Adopt Abuja Statement
Policy

Nigeria, ECOWAS, World Economies Adopt Abuja Statement

Nigeria, the Economic Community of West African States (ECOWAS), World Trade Organisation (WTO) Friends of Investment Facilitation for Development (FIFD) and participants at the High Level Policy and Private Sector Trade and Investment Facilitation Partnership Forum today adopted a declaration titled “The Abuja Statement” at the close of the two-day […]

Nigeria freezes 15 million bank accounts with BVN
Policy

Nigeria freezes 15 million bank accounts with BVN

A Federal High Court sitting in Abuja, Nigeria’s capital, has ordered the freezing of over 15 million bank accounts without BVN, bank verification numbers. The temporary order will be in place and could see the government taking over all the funds in the bank accounts for non-compliance with anti-money laundering […]