Money Market

Nigerian Naira Drops in Worst Month Since 2008 on OPEC

Nov 28, 2014/Bloomberg The naira posted its worst monthly drop in almost six years against the dollar and Nigerian stocks retreated for the fifth month amid tumbling oil prices. The currency of Africa’s largest oil producer fell 2.1 percent to 178.65 per dollar as of 5:35 p.m in Lagos, a […]

UBA Wins 5 Awards, Emerges Winner ‘Bank of the Year in Africa’ for 2014

Nov 28, 2014 Press Release/UBA Plc London, England, November 27, 2014 — United Bank for Africa (UBA) Plc, one of Africa’s largest financial services institutions, swept the global banking awards in London Thursday, winning in five categories to become one of the highest single winning bank brands ?at this year’s […]

Fitch Says Impact of Naira Devaluation Limited on Banks, FX Risks High

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global credit rating and research agency, Fitch Ratings on Thursday said the recent devaluation of Nigeria’s local currency, the naira and hike in interest rate will only have limited impact on banks; but foreign exchange (FX) risks are high for the sector.   Fitch said […]