MONEY MARKET

Nigeria’s central bank said on Friday it had injected $331.41 million into the interbank foreign exchange market, continuing its efforts to boost liquidity and alleviate dollar shortages. The bank said the funds were allocated to companies in the agricultural, airline, petroleum and machinery sectors. The central bank is “buoyant enough...

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to pledge collateral of N1 billion worth of government/CBN securities for OTC trade settlement. The Director, financial markets Department, Dr. Alvan Ikoku in a circular, with reference FMD/DIR/CIR/GEN/09/003  to all DMBs said the apex bank aimed to enhance...

  The Central Bank of Nigeria (CBN) has set the maximum amount a bank customer can transfer via mobile phones using shortcodes at N100,000. In a statement signed by Director, Banking and Payment Systems of CBN, Dipo Fatokun, the decision was made because of the risks associated with mobile banking....

  Against the expectations, that The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Wednesday left the Monetary Policy Rate (MPR) unchanged at 14 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held...

Nigeria’s Fidelity Bank expects loans to grow at a faster pace this year than the 7.5 per cent it forecast for 2017, helping lift profits after treasury yields fell, an executive told Reuters. Nigeria, which emerged from its first recession in 25 years last year, has been working to lower...

The Central Bank of Nigeria (CBN) has provided fresh 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The Bank’s Acting Director, Corporate Communications Department, Mr Isaac Okorafor in a statement on Monday in Abuja, said that 100 million dollars was offered to authorised...

  As part of efforts to deliver superior and innovative banking solutions to its customers, Keystone Bank has announced the launch of a brand new mobile banking application with many user friendly features which can be accessed from the convenience of a mobile phone. According to the Group MD/CEO, Obeahon...

The Central Bank of Nigeria (CBN) said on Monday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages. The bank said in a statement it had released $100 million earmarked for the wholesale market, $55 million for small businesses...

Nigerian Bureau of Statistics (NBS) report has shown that banks operating in the country allocated credit facility worth N15.83 trillion to the private sector in the third quarter of 2017. The report, “Selected Banking Sector Data: Sectorial Breakdown of Credit, e – Payment Channels, Deposits and Domestic Credit Breakdown and...

Access Bank Plc has emerged the winner at the inaugural Nigeria Sustainable Banking Awards convened by the Central Bank of Nigeria (CBN) in recognition of its outstanding success and leadership in Nigeria’s sustainable development. The award  which took place in Lagos recently cut across four categories and were all won...