Category Economy

Naira Stable In Official Market

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Data from the Central Bank of Nigeria (CBN) shows that the naira maintained relative stability from May 23 to May 30, fluctuating between ₦1,579/$1 and ₦1,592 This contrasts with the currency’s performance in the first week of May, when it…

Moody’s Upgrades Nigeria’s Rating To ‘B3’

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Credit ratings agency Moody’s upgraded Nigeria’s rating to “B3” from “Caa1” on Friday. The agency cited significant improvements in the country’s external and fiscal positions, according to a Reuters report. According to Moody’s, inflationary risks in Nigeria, driven by policy…