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Naira to appreciate further as CBN boosts forex sale.

Mar 20 2017
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Naira to appreciate further as CBN boosts forex sale. The Nation Online

The Naira is set to appreciate further this week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers.

 

CBN spokesman Isaac Okorafor, gave the assurance yesterday.

 

The News Agency of Nigeria (NAN) reports that the apex bank had so far kept to its promise of continuing to supply enough forex to guarantee liquidity in the market.  Read more

 

Lenders tighten credit rules, decline customers’ loan requests.  Guardian Online

The level of credit to businesses and individuals in the first quarter of 2017 declined, as banks strengthened their rules in the midst of rising Non-Performing Loans (NPLs) and recession, despite availability of the funds.

 

While fallen revenue earnings had hit the economy since 2014, due to oil prices crisis, banks’ exposure to the sector operators turned bad, hitting more than 10 per cent in NPLs as at December 2016.

 

Consequently, they are operating cautiously and have resorted to increasing and sticking to credit rules, which have deterred lending or ensure that lent funds perform, and that has led to reduced credit profile in the period under review.  Read more

Last changed: Mar 20 2017 at 2:50 PM

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