Emele Onu

Nigeria is targeting as much as $2 billion through the issuance of dollar-denominated bonds to domestic investors in the West African nation, according to the lead arranger

Africa's most populous nation is issuing dollar bond locally to help bridge infrastructure finance gaps given market conditions haven't been favourable for the offer of Eurobonds.

Nigeria’s top finance regulator plans to license providers of virtual assets including cryptocurrencies to tap opportunities and protect investors as adoption rates surge in the West African nation.

As adoption surges. By Emele Onu and Jennifer Zabasajja, Bloomberg 20 Aug 2024

Firms expect local unit to appreciate from January on outlook Inflation, insecurity, inadequate power seen limiting business

(Bloomberg) -- Nigeria's naira fell against the dollar on the parallel market, widening the gap with the official rate, after a halt in foreign currency supply to local bureaux de change led to a scramble for the greenback.

Nigeria’s naira fell against the dollar on the parallel market, widening the gap with the official rate, after a halt in foreign currency supply to local bureaux de change led to a scramble for the greenback.

Nigerian National Petroleum Co. , the nation's main importer of fuel, said indebtedness and rising prices are hampering its ability to supply gasoline to Africa's most-populated nation.

A 45% hike in the pump price of gasoline and a continued downward pressure on the naira dampened hopes that the Central Bank of Nigeria will press pause on an interest-rate increase at a meeting this month.

Nigeria's naira slipped to a fresh low against the dollar, with analysts blaming thin liquidity as the central bank scaled back intervention and foreign investors took profits on domestic bonds.