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.
"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
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.