The CBN Wants to Eliminate the Currency Black Market
The Central bank of Nigeria has indicated that it plans to put an end to Nigeria’s thriving parallel currency market. Officials of the country’s apex bank say the institution will be moving against the black market to curb what they describe as its negative impact on the Nigerian economy. Minister of Finance, Mrs Kemi Adeosun, […]
Market Looks to US Jobs Data for Indications of Economic Recovery
The market opened Monday under a cloud of risk aversion with the ongoing Ukraine and Russia tensions and uncertainty depressing the market. Investors shifted their focus to safe haven assets, such as gold and the Japanese yen; the latter also benefiting from carry trade opportunists and strengthening to a three day high as a result. The risk aversion […]
US Still Affected by Government Shutdown, as UK Recovers
Data in the US got off to a weak start last week, with the Retail Sales figures for September disappointing expectations of a 0.2% rise, having fallen by 0.1%. The poor figure was somewhat vindicated by the fact that sales dropped only in the auto sector, which weighed on the overall percentage for retail […]