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Fitch Upgrades Ecobank Transnational Incorporated to ‘B’; Outlook Stable

15 Oct 2014/Fitch Ratings (The Agency released this statement Wednesday) Fitch Ratings-London-15 October 2014: Fitch Ratings has upgraded Togo-based Ecobank Transnational Incorporated’s (ETI, the holding company of the pan-African Ecobank… Read more »

Phillips Oduoza, UBA CEO, Bags Leadership “Banker of the Year” Award

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)- Phillips Oduoza, , group managing director and CEO of United Bank for Africa (UBA) Plc, has bagged the Leadership “Banker of the Year” award… Read more »

Q2 2014 Report: CBN Says Currency-in-Circulation Fell by 4.9%

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Currency-in-circulation in Nigeria fell by 4.9 percent at N1, 497.1 billion at the end of the second quarter of 2014, compared with the decline of… Read more »

UBA, MoneyGram Launch ‘Naija Sends’ Outbound Money Transfer Abroad

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Africa’s global lender, United Bank for Africa Plc (UBA) on Monday said it has partnered world money transfer firm, MoneyGram to launch ‘Naija Sends’ outbound… Read more »

Mainstreet to Receive 121.4 Million Units of AMCON Series V Bonds

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Acquired Mainstreet Bank Limited will receive holdings of 121,375,422 units of the Asset Management Corporation of Nigeria (AMCON) Series V Bonds (redeemed at par) by… Read more »

UK Export Finance Names Ecobank Nigeria, JPMorgan, others to Deliver £3b Support to Exporters

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-United Kingdom Export Finance (UKEF), has named Ecobank Nigeria, JPMorgan Chase and 18 other global lenders as its partnering financial institutions to help deliver £3… Read more »

IBFC to examine banking industry outlook

IBFCAlliance Limited says it will examine the banking sector outlook at a seminar scheduled to hold at the Intercontinental Hotel in Lagos on October 21. A statement by the company… Read more »

Naira hits seven-month low despite CBN support

The naira closed at a seven-month low against the dollar on Wednesday. The local currency closed against the greenback at N164.50, despite a Central Bank of Nigeria intervention. This came… Read more »

Fitch Says Nigerian Banks Doing Well Despite Hurdles

AMCON Levy Worsened bank earnings By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global rating agency, Fitch Ratings on Wednesday gave Nigerian banks pass mark despite the twin hurdles of tight monetary policy… Read more »

Islamic Finance: Oman Adopts Nigeria’s Approach, Sets up Central Sharia Board

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-In its bid to boost Islamic finance in the Gulf region, the Oman central bank on Wednesday said it has set up a central sharia… Read more »

 

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