Money Market

Foreign reserves fall to $39.56bn

The country’s external reserves have fallen by 0.15 per cent to $39.56bn this month, according to latest data from the Central Bank of Nigeria. The reserves had stood at $39.62bn in August and amounted to $45.66bn in September last year. Currency traders attributed the fall to draw downs by the […]

Wema Bank Says It Attracted over $150 Million Credit on Trade & structured Finance

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s indigenous lender, Wema Bank of Nigeria Plc on Saturday said it has attracted over $150 million in lines of credit for foreign trade and structured finance from various institutions, according to Segun Oloketuyi, managing director (MD) of the bank. Oloketuyi said this at a […]

CBN Unveils Guidelines for International Money transfer Operators

By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Friday announced it has released guidelines for the operations of inbound and outbound international money transfer services in the Nigeria. This is contained in a circular with reference number TED/FEM/FPC/GEN/01/016 dated September 16 and signed by I.O. Gbadamosi, […]