Money Market

Alex Otti Resigns as CEO of Diamond Bank for Abia Guber Poll

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Alex Otti has resigned as the chief executive officer of Diamond Bank Plc according to a notice from the lender to the Nigerian Stock Exchange. The bank said Uzoma Dozie has been appointed as the new group managing director/CEO to replace Otti who earlier reports […]

FG raises N171.3bn in Treasury bills

Nigeria sold N171.26bn ($1.03bn) worth of treasury bills with maturities ranging between three months and one year at an auction this week, with mixed yields, the Debt Management Office said on Thursday. The debt office said N59.88bn worth of three-month paper was sold at 9.80 per cent, 15 basis points […]

Naira Rebounds From 7-Month Low on Nigerian Intervention

Nigeria’s naira strengthened, rebounding from the lowest level in seven months, on speculation the central bank is intervening by selling dollars. The currency of Africa’s largest economy gained 0.2 percent, the most since Oct. 13 on a closing basis, to 165.10 against the dollar as of 5:07 p.m. in Lagos, […]