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NPF Microfinance BanK Appoints 4 New Directors

By InvestAdvocate Lagos (INVESTADVOCATE)-NPF Microfinance Bank Plc on Tuesday said it appointed four (4) new directors on its board. “These appointments were ratified by the shareholders at its Annual General… Read more »

Unity Bank Names Ayodele Somefun as New MD/CEO

By InvestAdvocate Lagos (INVESTADVOCATE)- Nigeria’s mid-tier lender, Unity Bank Plc on Tuesday named Ayodele Somefun as new managing director/chief executive officer (MD/CEO) following the resignation of Henry James Semenitari, effective… Read more »

Naira drops to 224 as dollar demand rises

August 12, 2015/ Punch The naira dropped against the dollar at the parallel market on Tuesday driven by demand mainly from individuals travelling abroad for summer holidays and importers, traders… Read more »

List of Approved Branches for Commencement of PTA, BTA Sales

Tuesday August 11, 2015/ Zenith Bank This is the ZENITH BANK list of designated branches that has commenced the sale of Personal and Business Travel Allowance (PTA & BTA) across… Read more »

IMF Rally Support PBC’s Change on Renminbi’s Fixing Mechanism

August 12, 2015/IMF In response to media queries about the People’s Bank of China’s announcement on the Change to the Renminbi exchange rate fixing mechanism, the following can be attributed… Read more »

Banks Reduce Withdrawal Limits on ATMs

August 11, 2015/Vanguard The battle for defence of the Naira value has widened, affecting existing withdrawal limits on Automatic Teller Machines (ATMs) and foreign transactions on all existing Naira debit… Read more »

Nigeria’s Skye Bank to raise equity, restructure loans

Mon Aug 10, 2015/Reuters Nigeria’s Skye Bank is in talks to raise 30 billion naira ($151 million) from existing and new investors before the end of the year to bolster… Read more »

UBA Named Largest Lender to Agric Sector

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Pan-African lender, United Bank for Africa Plc (UBA) said on Monday it has won the largest lender award in the Agricultural sector of the Nigerian… Read more »

MTN in Talks With Nigeria Central Bank on Early Debt Repayment

August 5, 2015/Bloomberg MTN Group Ltd. is in talks with Nigeria’s Central Bank about the early repayment of almost $600 million of debt to reduce exposure to the naira, which… Read more »

Naira rises to 219 after CBN dollar sale

The naira firmed against the dollar at the parallel market on Wednesday following the Central Bank of Nigeria’s sales of about $80m to bureau de change operators, traders said. Specifically,… Read more »