The naira has depreciated by 31 kobo and 70 kobo at the official and parallel markets respectively and closed the week at N146.32/$1 and N180.70/$1.
The Central Bank of Nigeria (CBN) continues to struggle to meet demand, in an auction held on May 11, the CBN offered $100 million, and sold $119.69 million, On May 12, $100 million was offered and $98.48 million sold. On May 13, 2009, CBN offered $100 million and sold $103.17 million.
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gaga ekeh atlantis, usa May 25, 2009
i think that the unfunded capital requirements have deprecated nigerian leverage tremendously. we are all aware that nigerian finance ministers are revered, globally, for their ability to keep a lid on inflation. but with the current population growth rate, i fear nigeria is in for a sustained period of instability.
perhaps federating equity can be generated as a function of the implications of the lokoja locus and operating expenses, as a calibrational template for the singularity,thus importance, of the kobo.
