Nigeria's central bank kept its monetary policy rate at 14.0 percent but switched to a tightening bias by saying that a rate cut now would worsen the naira's exchange rate, further pull the real interest rate into negative territory, reverse the positive outlook for the current account and not necessarily transmit into lower lending rates by banks.

Nigerians will be charged higher fees for deposits and withdrawals exceeding N500, 000 and N3 million, for individuals and corporate customers respectively. This falls in line with a new policy adopted by the Central Bank of Nigeria.

One week after its issue, Nigeria’s $1 billion Eurobond started trading yesterday on the London Stock Exchange (LSE).

Fitch Ratings has assigned Nigeria’s $1 billion 15-year 7.875% senior unsecured notes a final rating of ‘B+’. The final rating replaces the expected rating that Fitch assigned on 6 February 2017.