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CBN Says Currency-in-Circulation Rose 3.4 Percent in Q3’14

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE) – The Central Bank of Nigeria (CBN) said on Tuesday currency-in-circulation (CIC) rose 3.4 percent to N1.548.3 billion at the end of the third… Read more »

CBN Signs MoU with DMBs to Boost Power Supply

Dec 22, 2014/CBN  Barely a month after the Central Bank of Nigeria (CBN) signed agreement with players in the power sector in collaboration with the Ministries of Power and Petroleum… Read more »

CBN traps offshore investors as interbank FX liquidity collapses

Dec 23, 2014/BusinessDay May accelerate capital flight Wide black market set to re-emerge The circular reducing the FX trading position of banks to 0 percent of shareholders’ funds from 1… Read more »

MFBs accuse NDIC, others of stalling growth

The Chairman, National Association of Microfinance Banks, Kwara State Chapter, Mr. Joseph Adeyemi, has said the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation of allegedly frustrating the… Read more »

Nigeria Plans to Raise N1.22 Trillion in Treasury Bills in Q1 2015

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said on Friday it plans to raise about N1.22 trillion ($6.61 billion) in treasury bills in the first quarter… Read more »

Nigerian central bank intervenes to prop up sliding naira

Thu Dec 18, 2014/Reuters * Naira hits another low after failed dollar curbs * Direct intervention triggers small recovery * Currency down more than 12 pct in last three… Read more »

CBN Direct Dealers to Review Downward to 0% FOREX Trading Position

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigerian (CBN) on Wednesday directed authorised dealers to temporarily review downward to zero percent from one percent of their shareholder’s funds… Read more »

Fitch Predicts 2015 Negative Sector Outlook for Nigerian Banks

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global rating agency, Fitch Ratings on Thursday predicated a negative sector outlook for Nigerian banks in 2015, according to its latest report. According to Fitch,… Read more »

Nigeria Dollar Dealers Stop Trade on Central Bank Rule

Dec 18, 2014/Bloomberg Nigerian foreign-currency dealers halted trading after a central bank rule change meant to limit speculation against the plunging naira confused investors. “This raises concerns about the credibility… Read more »

UBA begins Twitter notification for account holders

United Bank for Africa Plc on Wednesday said its customers on Twitter could now receive notifications for their bank transactions via the social media platform. The service, according to the… Read more »