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NIGERIA: The lock-down experiment

Teneo-Europe-Report

The two-week lockdown of Abuja and Lagos enacted this week is a litmus test of the extent to which Nigeria can implement measures designed in and for rich economies in containing the spread of Covid-19. As President Muhammadu Buhari’s influential chief of staff Abba Kyari has tes…   Become a member to read the rest […]

NIGERIA: CBN caving in to FX pressure, but not without a fight

Teneo-Europe-Report

The official response to the oil price crash and the COVID-19-induced economic crisis continues to evolve at a rapid pace. The division of labor is clear: the federal government zeroes in on cutting expenditure and shoring up the shrinking revenue base, while it falls to the Cent…   Become a member to read the rest […]

NIGERIA: Defending the naira remains the imperative

Teneo-Europe-Report

On 24 January, the Central Bank of Nigeria’s (CBN) monetary policy committee decided to hike the cash reserve ratio (CRR) by 500 basis points from 22.5% to 27.5%, while leaving all other monetary parameters unchanged. While raising the CRR will likely serve to keep fixed-income y…   Become a member to read the rest of […]