August 3, 2015
Volume 2 July 2014
The paper discusses the geographic characteristics of West Africa, the diverse productive activities in each of the geographic location and its implications for regional integration.
The Naira strengthened against the dollar in the review week. Specifically, the Naira appreciated by 2.7 percent to N355/$ (parallel market rate) on June 17, 2016, following the release of the flexible FOREX policy guidelines by the CBN on June 15, 2016. The new policy effectively adopts a single market structure hosted at the autonomous/inter-bank market. The inter-bank trading scheduled to commence on June 20, 2016 will be market-determined, officially eliminating the N197/$ peg. To ensure foreign exchange liquidity, primary market dealers have been introduced while the CBN will participate in the market through periodic interventions.
The Nigeria stock market indices; All Share Index (ASI) and Market Capitalization declined by 2.4 percent to close at 26537.36 points and N9.12 trillion respectively at the end of the trade session this week8 The decline in the indices, which is attributed to the low subscription for stocks in the market, led to the partnership between Security and Exchange Commission (SEC) and Debt Management Office (DMO) to salvage the financial system.