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January 3, 2018

A few good wins and a final lap in 2018

Although at a slow pace, inflation experienced a downward trend this year. The positive base effects against the monthly baskets in 2016 played a major role in the steady slowdown; improved fx liquidity also contributed and this was particularly visible in the trend of imported food prices. However, general food price inflation remained stubbornly high throughout the year, notably due to poor infrastructure, insecurity in the northeast and a pick-up in food exports.A success story for which the CBN has been applauded is the boost in liquidity in the fx market. The CBN adopted a multiple currency practice (MCP) approach in Q1 2017. There are separate sales at different rates to banks (for invisibles for retail), to banks (for importers on a wholesale basis), to banks for portfolio investors and...

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December 27, 2017

Much to play for in 2018

We would all like to forget 2016 for the start of the recession and the deepening scarcity of fx. We...

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December 13, 2017

Housing, still on the priority list

Homeownership in Nigeria remains a struggle. Given the choppy macro terrain, purchasing power has been severely eroded, making it difficult...

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August 21, 2017

Economies, governments and elections: much talk

It is often said that elections disrupt the macroeconomy. The recent elections in Kenya have prompted us to apply a...

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