MONEY MARKET

As Tier-1 banks continued to be driving force behind credit to real sector of the economy, the subsequent drop in deposit and macro economy challenges have shrink loan-to-deposit in three out of four Tier-1 banks in half year of 2017. Tier-1 banks with marginal decline in loan-to-deposit are Zenith Bank...

The Central Bank of Nigeria (CBN) has said that currency in circulation appreciated to N1.86 trillion in August 2017, 5.6 per cent increase over N1.76 trillion in July. The N1.86 trillion currency in circulation is the third lowest, after N1.76 trillion in July and N1.87 trillion in June as the...

• 3.4% higher than H1 2016 As a result of rising bad loans by customers owing to the biting economic recession, 13 commercial banks in Nigeria have provided N230.6 billion for bad loans in half year (H1) ended June 30, 2017. The amount, though higher than N76.5 or 3.4 per...

The Nigerian currency, Naira on Tuesday appreciated against the Dollar at the parallel market. The currency gained N1 to exchange at N364 to the dollar as against N365 it traded on Friday, while the Pound Sterling and the Euro closed at N470 and N430. Trading at the Bureau De change...

Data from the Central Bank of Nigeria’s (CBN) money and credit statistics for July 2017has revealed that currency-in-circulation dropped to N1.769 trillion at the end of July, compared with the N1.873 trillion position it was the previous month, while banks’ reserves increased to N3.446 trillion as at July, from N3.266...

Ecobank instituted the Target Saving Promotion to encourage saving amongst Nigerians, especially to enable them acquire valuable assets, save for travels or save for the rainy day, which they cannot achieve in one go. The Head, Consumer Banking, Ecobank Nigeria, Ayotunde Kuponiyi stated this fact during customer sensitization exercises in...

Guaranty Trust Bank Plc (GTB), First Bank of Nigeria Holdings Plc, and eight other commercial banks operating in Nogeria reported N26.8 billion on current account maintenance fees in the first six months of 2017. Others are Sterling Bank Plc, FCMB Group Plc, Diamond Bank Plc, Union Bank of Nigeria Plc,...

The Central Bank of Nigeria (CBN), on Thursday introduced two financial instruments for intra-day and overnight liquidity for Non-Interest Financial Institutions (NIFI). The instruments targeted at liquidity management and deepening of the financial system are known as: “Funding for Liquidity Facility (FfLF)” and “Intra-Day Facility (IDF).” A circular on CBN...

Nigeria plans to raise 193.14 billion naira ($614 mln) worth of treasury bills at an auction on Aug. 30, the Central Bank of Nigeria (CBN) said on Wednesday. The bank will offer 26.14 billion naira in three-month paper, 62 billion in six-month bill and 105 billion in one-year paper. The...

The Central Bank of Nigeria (CBN) on Monday boosted the foreign exchange market by offering the market $195 million in three segments. The apex bank auctioned $100 million in the wholesale segment and also intervened in the Small and Medium Enterprises (SMEs) and invisible segments, with $50 million and $45million...