Nigeria
Nigeria’s bad bank comes to life
Nigerian President signs bill approving creation of bad bank to take $10 billion in toxic loans off beleaguered banks’ balance sheets; agency to be up and running by end-September
Interview: Sanusi Lamido Sanusi
The governor of the Central Bank of Nigeria discusses banking reform, the Volcker rule, and the role of lenders in society
EXCLUSIVE: Nigeria to cut out universal banking
Nigerian governor Sanusi Lamido Sanusi says new guidelines similar to Volcker rule will prohibit lenders’ engagement in non-banking activities; takeover deals for bailed out banks near completion
EXCLUSIVE: Nigeria’s Sanusi explains banking sector bloodletting
Nigerian central bank chief Sanusi Lamido Sanusi explains why he had to “decimate” opposition to his sweeping bank reforms; says Volcker rule poses no conflict with the true task of banks
Nigeria under attack from government aide over reforms
Nigeria’s National Security adviser General Gusau says central bank's reforms are hampering country's recovery
Nigeria slashes deposit rate to ease lending
Central Bank of Nigeria knocks 100 bps off deposit rate and extends quantitative easing programme to promote lending to the real sector
How Africa’s bond markets can continue to progress
The impressive growth of debt markets in sub-Saharan Africa is a credit to the region’s authorities. But more can be done, writes Paul-Harry Aithnard, the group head of research at Ecobank
Ex-Nigeria chief loses state governor race
Nigerian ex-governor Charles Soludo places third in the bid for governorship of the resource-rich Anambra state after a spirited campaign
Nigeria tackles subdued growth
Nigeria’s central bank holds rates, but introduces a corridor around key rate to encourage lending
Nigeria’s woe signals decoupling not in sight
International Monetary Fund finds developing and emerging markets did not decouple from the United States enough to grow despite significant recession in the world’s largest economy
Nigeria downgraded on banking, fiscal fears
Standard & Poor’s lowers Nigeria’s sovereign credit ratings on concern over fiscal flexibility on back of bank bailout
Nigeria suspends trading in troubled banks
Nigerian authorities suspending trading in troubled bank shares and look to foreign investors to restore health
New Nigerian governor criticises Soludo
Lamido Sanusi, confirmed as the new governor of the Central Bank of Nigeria on Wednesday, said he disagreed with his predecessor's plans to re-denominate the naira made back in 2007.
Awkward handover for Nigerian governor
The Nigerian central bank faces considerable uncertainty over the immediate future of the position of its governor.
Nigeria's Soludo to depart?
Charles Soludo, the governor of the Central Bank of Nigeria, is to leave after one term, reports suggest.
Nigeria signs pact to host African central bank
Africa has moved another step closer to establishing a continental central bank after Nigerian lawmakers and African Union officials signed a memorandum of understanding to house the regional hub in Abuja, the country's capital.
Nigeria cuts for first time in seven months
The Central Bank of Nigeria sliced 175 basis points off its key interest rate on Thursday with the scarcity of credit outweighing concerns over inflation.
We won't let banks fail - Nigeria's Soludo
Chukwuma Soludo, the governor of the Central Bank of Nigeria, said on Monday that the central bank will not allow any of the domestic banks to fail.
Nigeria's Soludo: adjustment an opportunity
Charles Soludo, the governor of the Central Bank of Nigeria, has said that exchange-rate adjustment is an opportunity.
Nigeria agrees to house continental central bank
Africa took a step closer to creating a single central bank on Monday after it emerged that the African Union, a body devised to foster economic integration in the region, and Nigeria would sign an agreement to create a regional central bank in Abuja…
Russia, Nigeria devalue, shun "losing battle"
The Nigerian and Russian central banks have both said that they will allow their currencies to depreciate to protect their reserves stockpile. The actions signal Moscow and Abuja have acknowledged that the real values of their currencies have weakened in…
Nigerian FX markets stall on intervention hopes
Nigeria's foreign exchange markets froze on Tuesday as banks waited to see if the central bank would intervene to halt the naira's fall.
Nigeria presses banks to post loan costs
The Central Bank of Nigeria is enhancing transparency for the country's consumers by requiring banks to disclose their loan costs and deposit rates on the internet.
Nigeria acts to counter likely inflationary surge
The Central Bank of Nigeria has raised rates and its cash requirement ratio on concerns that inflation could soar in the coming months.