LAGOS/ABUJA As women in hairnets and anti-coronavirus masks sort through folded nappies coming off a conveyor belt, the head of the Nigerian firm they work for wonders how much longer he can afford to keep them in employment.
ABUJA Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as banks try to limit foreign currency settlement risk.
ABUJA, July 7 Nigeria's naira eased 5.5% on the
official market on Tuesday, after the central bank sold dollars
to lenders at a lower rate, bowing to pressure from
international lenders to unify its multiple exchange rates.
ABUJA, July 6 Nigeria's central bank collected
122 billion naira ($338 million) from banks with excess cash
before weakening the currency at a retail auction on Friday, in
a move to unify its multiple exchange rates, bankers told
Reuters on Monday.
ABUJA, July 1 A pan-African education group
backed by global investment firm Actis has acquired its first
university in Nigeria as it seeks to make inroads into Africa's
largest economy, its chief executive told Reuters.
ABUJA, June 26 Nigeria needs to deepen economic
reforms and boost government revenues in order to have a
sustained recovery after a coronavirus-induced oil price shock
that slashed income and weakened its currency, the World Bank's
country director told Reuters on Friday.
ABUJA, June 25 Nigerian banks plan to
restructure over a third of loans after running into repayment
problems due to the coronavirus pandemic, a member of the
central bank monetary policy committee said.
ABUJA, June 24 Nigeria is in discussions with
the World Bank and other multilateral lenders to raise $6.5
billion, the finance ministry said in a document seen by Reuters
ABUJA, June 24 The Nigerian central bank will
work towards the gradual unification of exchange rates across
all forex windows, the bank said in a document seen by Reuters
ABUJA, June 19 Nigeria's central bank has
collected 216 billion naira ($598 mln) from banks with excess
cash holdings as part of measures to support the naira currency,
leading to a spike in money market rates, bankers said on