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‘Why dollar surged against naira, others in 2014’

The dollar rose against all other major currencies in 2014 for the first time since the turn of the century, as investors expecting interest rates to rise piled into the… Read more »

Heritage, Enterprise will form a big bank – Sekibo

The Managing Director/ Chief Executive Officer, Heritage Bank, Mr. Ifie Sekibo, says the lender has commenced the process of merging its operations with Enterprise Bank Limited with a view to… Read more »

Nigerian naira street rate well below central bank’s at Christmas

Wed Dec 24, 2014 * Street rate for naira 3-5 pct below cenbank’s lower target * Christmas shopping slows as shoppers curb imports * Central bank has taken measures to… Read more »

CDL opens mobile offices to improve business

Credit Direct Limited, a subsidiary of First City Monument Bank Plc, says it has introduced mobile offices to improve productivity. The move, it said, would ensure prompt access to non-collateral… Read more »

Banks move to cut non-performing loans

Weighed down by rising non-performing loans, Deposit Money Banks have begun aggressive loan recovery exercises aimed at cutting down their NPLs. It was learnt on Tuesday that the NPLS of… Read more »

Forex Inflows Grew to $13.09 bn in Q3’14-CBN

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Foreign exchange inflow through the Central Bank of Nigeria (CBN) grew to $13.09 billion in the third quarter (Q3) of 2014, the CBN said in… Read more »

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 »