Money Market

Naira slides to 200 against dollar

These are not interesting times for the naira, which entered a free-fall mode on Monday following the postponement of the national elections by six weeks by the Independent National Electoral Commission on Saturday. The currency on Tuesday tumbled to a new record low of 200 against the United States dollar […]

Skye Bank to focus on retail, commercial banking

Skye Bank Plc says it will place emphasis on retail and commercial banking as a way of bringing about a healthy deposit and bring down its cost of funding. The new business strategy would also allow the bank to reduce the volume of public sector deposit and term deposit at […]

Naira hits record low after Nigeria delays presidential election

Feb 9, 2015/Reuters The naira opened at a record low on Monday after Nigeria delayed its presidential election by six weeks, citing security concerns due to an Islamist insurgency in the north. The electoral commission’s decision late of Saturday to postpone the Feb. 14 vote until March 28 added to […]