Godwin Emefiele, President Goodluck Jonathan’s choice as Nigeria’s next central bank chief, is an experienced financier who’ll inherit an institution under extra scrutiny after his predecessor was suspended amid a corruption dispute.
Nigeria’s government will announce plans tomorrow to develop a mortgage finance company along the lines of the U.S.’s Fannie Mae that will help broaden access to home loans in Africa’s most populous country.
Nigerian President Goodluck Jonathan risks sectarian clashes when he announces whether he will seek election: in the Muslim north if he does, and in his native oil- rich Niger River delta in the south if he doesn’t.
Nigeria’s naira pared its losses against the dollar after dropping to the weakest on record on speculation that a rise in government spending and removal of fuel subsidies will cause further depreciation next year.
Nigeria’s Movement for the Emancipation of the Niger Delta threatened to bomb mosques and assassinate Muslim clerics, a week after saying it killed 15 security personnel in the southern oil-producing Bayelsa state.