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Nigeria devalues naira by 8 pct to protect forex reserves during oil slump

Nov 25, 2014/Reuters * Bank also raises interest rate by 100 bps to 13 pct * Falling oil prices have undermined Nigeria’s reserves * Cenbank also hikes cash reserves requirement… Read more »

Islamic finance set to tackle long-standing repo challenge

Nov 24, 2014/Reuters Separate but converging efforts are underway in Islamic finance to help develop globally accepted alternatives to conventional repurchase agreements, as the industry tries to crack one of… Read more »

Depositors yet to claim failed banks’N25bn – NDIC

Depositors have yet to claim about N25bn recovered from the 48 failed banks in the last 25 years, the Nigerian Deposit Insurance Corporation has said. The Managing Director, NDIC, Alhaji… Read more »

ETI to Sale Stake in Ecobank Nigeria

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Pan-African lender, Ecobank Transnational Incorporated (ETI) is considering selling a stake in Ecobank Nigeria in order to raise about $500 million to shore up the… Read more »

Traditional banking to end by 2025, say experts

Information and Communications Technology experts have predicted that traditional banking will end by 2025 or 2030. According to the experts, a market economy could readily emerge without banks, as we… Read more »

Naira Falls to Record Low as Nigeria Stocks Decline

Nov 20, 2014/Bloomberg The naira slumped to a record low and stocks retreated the most in the world before Nigeria’s central bank meeting to review interest rates in Africa’s biggest… Read more »

CBN Issue Banks, Merchant Banks January 2015 to Implement SWIFT SSS

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Thursday directed banks and merchant Bank to subscribe to and implement the SWIFTSanction Screening Service (SSS) on or… Read more »

CBN, Power, Petroleum Ministries, NERC Sign MoU on Electricity Stabilisation

Nov 20, 2014/CBN The Central Bank of Nigeria (CBN), in what has been described as an uncommon collaboration with the Ministry of Petroleum Resources, Ministry of Power and the Nigerian… Read more »

Emefiele for national credit reporting conference

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, will on Wednesday (today), declare open the second National Credit Reporting Conference. The conference is being organised by the Business Development… Read more »

UBA Introduces Priority Pass to Female Ruby Account Customers

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Pan-African lender, United Bank for Africa Plc, (UBA) on Tuesday said it has introduced ‘’Priority Pass’’ a new value added services offered by the bank… Read more »