MONEY MARKET

  United Bank for Africa Plc (UBA), Zenith Bank Plc and Guaranty Trust Bank Plc (GTBank) earn a sum of N197.8 billion interest investing in Federal Government Treasury Bills (T-Bills) between January and September 2017. The above banks invested estimated N1 trillion in Debt Securities (T-Bills and Federal Government Bond)...

The foreign exchange supply by the Central Bank of Nigeria (CBN) interbank foreign exchange market on Monday rose to $195 million, with the naira exchanged at 363 against the United States dollar. It would be recalled that the CBN on Tuesday, last week, intervened in the interbank forex market with...

Zenith Bank Plc has been rated the first Nigerian company and first African financial institution to adopt the Global Reporting Standards on sustainability of the Global Sustainability Standards Board. A statement by the bank in Lagos on Thursday said it had received a letter of commendation on this feat from...

The Bankers Committee comprising the Central Bank of Nigeria (CBN) and Chief Executive Officers of banks in Nigeria has threatened that henceforth, exporters who fail to repatriate export proceeds will be sanctioned. Rising from its meeting on Thursday in Lagos, the committee said the sanction will be by way of...

The Central Bank of Nigeria (CBN) said on Wednesday it has recovered over N50 billion from banks in excess charges imposed on customers in the last three years. This amount, the CBN said has been returned to bank customers who suffered from these excessive charges. Speaking at the ongoing Abuja...

In continuation of its efforts to sustain foreign exchange liquidity in the country, the Central Bank of Nigeria (CBN), on Tuesday, injected $195 million in the Inter-bank Foreign Exchange Market. Figures released by the Bank show that it offered the sum of $100 million to the wholesale segment, while the...

The management of Ecobank Nigeria Limited has announced the promotion of more than one thousand staff. This latest promotion exercise which affected about 30 per cent of core employees of the bank is said to be in line with its commitment to recognizing and rewarding excellence and exceptional performance. The...

A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), Dr. Doyin Salami, has said that the CBN is acting like a “piggy bank” with its funding of the Federal Government. Salami said he was struggling to understand the CBN’s economic rationale for such action....

The Central Bank of Nigeria on Wednesday raised more money from an auction of treasury bills than originally planned after it received subscriptions for almost four times the amount of debt initially on offer, traders said. The bank raised N215.88 billion ($686 million) at the auction, 75 billion naira more...

Nigeria plans to sell 140.9 billion naira ($433.5 million) worth of treasury bills at an auction next week, the Central Bank of Nigeria (CBN) said on Wednesday. The bank said it plans to offer 28.12 billion naira of three-month debt, 23.68 billion in six-month bills and 89 billion in one-year...