Nigeria GDP rebase may pose challenge to S.Africa

LAGOS, Nov 11 – Nigeria’s plan to rebase its GDP will enable it to project its power on the world stage and may pose a serious challenge to South Africa’s position as the dominant force on the continent.

Nigerian naira hits all-time low on cbank concerns

LAGOS, Sept 29 – The Nigerian naira fell to its weakest ever in the interbank market on Thursday as concerns that the central bank is losing some of its resolve to support the local currency drained trader confidence.

Nigeria raises interest rates on inflation fears

ABUJA, Sept 19 – Nigeria’s central bank monetary policy committee on Monday raised its benchmark interest rate for the fifth time this year in anticipation of upward inflationary pressures and to support the weakened local currency.

Nigerian Markets – Chidi Wigwe – Diamond Bank

ABN’s Samantha Loring speaks Chidi Wigwe, Associate: Investment Banking at Diamond Bank, looking at: Sentiment of the NSE after yesterday’s recovery; Dangote Cement sitting below 100 naira level; Dangote’s Pan African expansion plans; Synergies between Ecobank and Oceanic Bank.

Nigeria Naira seen firmer 

NAIROBI, May 5  – The Nigerian naira is expected to strengthen in the coming week as oil companies sell dollars, while the Tanzanian shilling is expected to ease due to corporate demand, traders said.