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The policy preference of the CBN is a simple trade-off of lower external reserves for a strong naira. Unfortunately, both of these variables are positively correlated and mutually reinforcing

The bond market remained scantily traded in today’s session with slight sell pressures witnessed on the shorter end of the curve (24s mostly). Yields were consequently higher by c.6bps as buying interests remained largely absent for the third consecutive session.

This year marks the 70th anniversary of the proclamation of the Universal Declaration of Human Rights. It is important to recall the fundamental connection between extreme poverty and human rights, and that people living in poverty are disproportionately affected by many human rights violations.