Author: InvestAdvocate

CBN orders banks to replace long-serving external auditors

  By Ifeanyi Onuba and Udeme Ekwere Tuesday, 14 Sep 2010    The Central Bank of Nigeria on Monday directed all Deposit Money Banks to replace external auditors that had spent over 10 years auditing their financial records not later than December 31, 2010. The CBN, which gave the directive in […]

Bank shares rise after new rules agreed

  September 14, 2010   Shares in major banks rose across the world after new rules were agreed on how much capital banks should hold in reserve.The new regulations, called Basel III, are designed to prevent another financial crisis. At the close of play in New York, the KBW US […]

Selling pressure drags down market indices

  By Udeme Ekwere   Tuesday, 14 Sep 2010   Selling pressure depressed trading activities on the Nigerian Stock Exchange on Monday, as key indices continued on a downward slide. Specifically, the NSE‘s All-Share Index fell by 1.14 per cent or 271.24 basis points to close at 23,531.55, down from […]