• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria’s Central Bank Governor calls Naira `undervalued’

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
105
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s Central Bank Governor calls Naira `undervalued’

Central Bank of Nigeria Governor Olayemi Cardoso said inflation will moderate this year and described the country’s naira currency as “undervalued,” in his first public comments on the economy since November.

“Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, which aims to rein in inflation to 21.4%,” Cardoso told an event Wednesday hosted by the Nigerian Economic Summit Group.

“The outlook for decreasing inflation in 2024 will have a profound impact on businesses, providing a more predictable cost environment and potentially leading to lower policy rates, stimulating investment, fueling growth and creating job opportunities,” he said via video link.

Cardoso set high expectations with a speech in November when he promised sweeping reforms, including a switch to inflation targeting from trying to control money supply. But he’s been largely silent in public until Wednesday’s speech — drawing criticism for a lack of communication

The central bank is expected to raise interest rates sharply when it meets next month. The gathering, which was only scheduled last week, will mark the first time the monetary policy committee has convened since July, when it raised rates to 18.75%.

Inflation since then has accelerated and stood close to a three-decade high of 28.9% in December.

RelatedPosts

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

Africa’s most populous nation is battling a cost-of-living crisis fanned by reforms last year aimed at boosting growth. The measures, led by relaxation of the country’s managed exchange rate and the abolition of fuel subsidies, were heralded by international investors but have caused hardship at home and led to steep falls in the currency.

“We believe that the naira is currently undervalued,” Cardoso said. “And coupled with coordinated measures on the fiscal side, we will expedite genuine price discovery in the near term.”

Tags: nairaNigeria’s Central Bank Governor calls Naira `undervalued'
No Result
View All Result

Highlights

BoG Designates Digital Credit Services as Non-Bank Financial Service

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

Trending

Business

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns

August 29, 2025

Ghana Link Assures Stakeholders of Major ICUMS Upgrade to Address Downtime Concerns Ghana Link Network Services Ltd,...

Troubled Manchester United Boss Amorim Contemplates Future After Grimsby Debacle

August 29, 2025

African Athletes Shine in 2025 Diamond League: A Celebration of Talent

August 29, 2025
Governor of the Bank of Ghana (BoG), Dr Johnson Asiama,

BoG Designates Digital Credit Services as Non-Bank Financial Service

August 29, 2025

Finance Minister Urges Fairer Global Framework as Africa’s Debt Burden Hits $1.3 Trillion 

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.