Money Market

CBN meets bank MDs as naira crashes

The naira, which has been under pressure in the last few weeks, on Monday crashed against the dollar to N173.20 at the interbank market, causing panic in the financial sector. There are also indications that this has prompted the Central Bank of Nigeria to call all bank chief executive officers […]

Ecobank Nigeria launches Western Union Outbound Money Transfer Service in Nigeria

Press Release November 14, 2014 – Ecobank has commenced Western Union Outbound Money Transfer Service In Nigeria. The newly launched service allows Nigerians to send money abroad through any of the over 500 branches of Ecobank Nigeria, while the funds are received in the specified currency in the receiving country. […]

Naira Declines to Record, CBN Affirms Continues Defense

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Thursday declined to its record low to two (2) percent s Brent crude extended losses from the worst levels in four  (4) years, eroding revenue in Nigeria, a Bloomberg report said. The report affirmed that while the Central Bank of Nigeria (CBN) […]