Money Market

Union Bank Launches Tailored Hybrid Account for Small Businesses

Press Release/UBN Plc LAGOS – November 26, 2014 – Union Bank of Nigeria Plc. has introduced a new hybrid business account,specially tailored to cater to the needs of small businesses. The new UnionEnterprise Hybrid Account gives growing businesses the flexibility of a current account with the benefits of a savings […]

AMCON approves Heritage’s takeover of Enterprise Bank

The Asset Management Corporation of Nigeria has approved the takeover of Enterprise Bank, one of the nationalised banks, by Heritage Bank. The corporation while announcing the completion of the sale of Enterprise to Heritage Bank in a statement on Wednesday, said the latter had fulfilled all necessary conditions. The statement […]

Nigeria devalues naira by 8 pct to protect forex reserves during oil slump

Nov 25, 2014/Reuters * Bank also raises interest rate by 100 bps to 13 pct * Falling oil prices have undermined Nigeria’s reserves * Cenbank also hikes cash reserves requirement Nigeria’s central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, as it sought to […]