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Nigeria issues 75 bln naira in bonds, yields up slightly

Nigeria sold 75 billion naira ($476.10 million) worth of 5-, 7- and 10-year sovereign bonds maturing in 2017, 2019 and 2022 at an auction on Wednesday, with yields inching up… Read more »

Nigeria inflation eases to 11.3 pct yr-yr in Sept – stats bureau

Nigeria’s consumer inflation eased for the third straight month to 11.3 percent year-on-year in September, down from 11.7 percent year-on-year in August, the National Bureau of Statistics (NBS) said on… Read more »

Nigerian naira pressured by strong dollar demand

Nigeria’s naira closed flat against the dollar in the interbank market and weakened slightly on the official foreign exchange window on Wednesday as strong dollar demand kept pressure on the… Read more »

Ecobank, ICIC Bank sign agreement on Indian-African trade

Ecobank Group and ICICI Bank of India have signed a Memorandum of Understanding to promote and facilitate trade and investments between India and Africa. A statement by the bank on… Read more »

CBN intervenes in forex market with $180m

The Central Bank of Nigeria has intervened with an offer of $180m at the foreign exchange market on Monday. The CBN, in a circular, directed the authorised dealers to fund… Read more »

Nigeria naira falls to 3-week low, seen gaining

The Nigerian naira fell to its weakest in three weeks on the interbank market on Monday, as dollar demand by foreign exchange bureaux and importers outpaced supply of hard currency,… Read more »

Inter-bank rates up on NNPC cash withdrawal

Inter-bank lending rates rose more than 80 basis points last week to an average of 11.41 per cent, compared with 10.58 per cent the previous week, as cash outflows to… Read more »

CBN to stop selling cash to bureaux de change – Sanusi

GOVERNOR, Central Bank of Nigeria, Mr. Lamido Sanusi, said in Tokyo on Sunday that the bank would soon stop selling cash to bureaux de change. He said, “Seventy per cent… Read more »

CBN to release guidelines for banking crisis resolution

The Central Bank of Nigeria has said it will take practical steps to prevent another crisis in the banking sector. It has, therefore, announced plan to release a comprehensive framework… Read more »

UBA Gives Out Free Debit MasterCard in New Promo

Press Release Lagos; 09-10-2012: Spurred by the commitment to drive the Cashless initiative and provide value added services to customers, United Bank for Africa (UBA) Plc is introducing Free UBA… Read more »