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Michael Tarfa Exits Skye Bank as Non-Executive Director

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s lender, Skye Bank Plc on Thursday said Michael Tarfa has retired from the bank as non-executive director with effect from October 02, 2014. The… Read more »

FG to raise N96.3bn in Treasury bills

The Federal Government plans to raise N96.26bn ($587m) with Treasury bills with maturities ranging between three months and one year on October 23, the Central Bank of Nigeria said on… Read more »

Controversy over Heritage’s payment for Enterprise Bank

There was uncertainty on Wednesday night over whether or not Heritage Bank, the preferred bidder for Enterprise Bank, had fully paid the bid price for the transaction. The Asset Management… Read more »

Nigeria naira sheds 0.24 pct as demand for dollars grows

The Nigerian naira fell 0.24 percent against the dollar on Wednesday as demand for the U.S. currency strengthened despite the sale of large amounts of dollar by the local unit… Read more »

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 »