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Update 1: CBN Says Interbank Closes at 197 Naira to One Dollar

By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said on Tuesday the interbank closing rate is 197 naira to one (1) dollar. The naira faced the prospect of a… Read more »

AFRITAC Central Steering Committee Vows to Strengthen Institutional Capacity of Member States

April 3, 2015/IMF The 17th Steering Committee of the IMF’s Regional Technical Assistance Center for Central Africa (AFRITAC) convened on March 26, 2015 in N’djamena, under the Chairmanship of Mr…. Read more »

CBN issues framework for licensing of super-agents

The Central Bank of Nigeria (CBN) on Wednesday issued a framework for licensing super-agents in furtherance of its mandate to develop the electronic payment system in the country. A super-agent… Read more »

CBN approves two models of mobile money services

The Central Bank of Nigeria (CBN) has approved two models for the implementation of mobile money services in the country namely: Bank led, which is a bank and/or its consortium… Read more »

Naira Gains 0.5% in Black Market, Trades 217 to Dollar after Election

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian naira on Wednesday gained 0.5 percent on the black market to trade 217 to the dollar after the 2015 presidential elections in the… Read more »

Nigeria’s 5-year bond yield falls as U.S. investor buys bond -dealer

March 31, 2015/Reuters Nigeria’s 5-year bond yield fell 33 basis points on Tuesday after a U.S. investor bought government debt, with uncertainty surrounding presidential elections in Africa’s biggest economy easing,… Read more »

External reserves fall to $29.79bn

The nation’s foreign exchange reserves fell by 4.9 per cent to $29.79bn on March 30, from $31.35bn in February, data from the Central Bank of Nigeria on Tuesday showed. Year-on-year,… Read more »

GTBank Names First Female CBN Director Osaretin Afusat Demuren New Chairman

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s top tier lender, Guaranty Trust Bank Plc (GTBank) said its set to appoint Nigeria’s first female director of the Central Bank of Nigeria (CBN),… Read more »

Tackling Small and Medium Sized Enterprise Problem Loans in Europe

Wolfgang Bergthaler, Kenneth Kang, Yan Liu, and Dermot Monaghan/IMF The global financial crisis has left a large private sector debt overhang and high levels of nonperforming loans (NPLs) in several… Read more »

Banks to distribute free BVN cards to customers – NIBSS

Bank customers who have done the mandatory biometric registration at any bank branch will start collecting their Bank Verification Number cards, the Managing Director, Nigeria Interbank Settlement System Plc, Mr…. Read more »