Nigeria’s economy, particularly the financial sector is faced with the risk of increased capital outflow in 2022 given the proposed interest rate hike by the United States of America’s Federal Reserve Bank (US Fed), equity researchers have said. Additionally, they said the rate hike would increase the cost of foreign borrowing for Nigeria and possibly … [Read more…]
Aggregate foreign exchange inflow into the country in the fourth quarter of 2020 rose to $23.60bn from $21.46bn in the third quarter, figure from the Central Bank of Nigeria revealed on Tuesday. The CBN stated in its report on ‘Foreign exchange flows through the economy’ for the fourth quarter that though there was an … [Read more…]
The Federal Government has pledged its commitment to improving revenue generation and enhancing economic competitiveness in the country. The Minister of Finance, Zainab Ahmed, made the pledge on a virtual platform on Monday during the Executive Roundtable on the Finance Act 2020 and Economic Outlook for 2021 organised by PricewaterhouseCoopers. … [Read more…]
Part of the report read, “Sustained use of direct monetary financing could raise risks to macroeconomic stability – given the current weak institutional safeguards – but we expect the FGN to reduce its use of the facility in 2021. “The FGN directly borrowed 1.9 per cent of GDP from the CBN to fund its … [Read more…]