Money Market

FG to raise N96.3bn in Treasury bills

The Federal Government plans to raise N96.26bn ($587m) with Treasury bills with maturities ranging between three months and one year on October 23, the Central Bank of Nigeria said on Wednesday. The apex bank said it would issue N34.88bn in the 91-day paper, N30bn in the 182-day note and N31.38bn […]

Controversy over Heritage’s payment for Enterprise Bank

There was uncertainty on Wednesday night over whether or not Heritage Bank, the preferred bidder for Enterprise Bank, had fully paid the bid price for the transaction. The Asset Management Corporation of Nigeria said Heritage Bank had yet to credit its account few hours to the expiration of the October […]

Nigeria naira sheds 0.24 pct as demand for dollars grows

The Nigerian naira fell 0.24 percent against the dollar on Wednesday as demand for the U.S. currency strengthened despite the sale of large amounts of dollar by the local unit of Royal Dutch Shell, dealers said. The naira closed at 164.58 to the dollar, weaker than Tuesday’s close of 164.18. […]