MONEY MARKET

The Naira on Thursday strengthened against the dollar in all the major segments of the market, the News Agency of Nigeria (NAN) reports. At the parallel market, the Nigerian currency gained five points to exchange at N385 to the Dollar from the N390 recorded on Wednesday. The Pound Sterling and...

The Central Bank of Nigeria (CBN) has pumped a total $380 million within two days into the Foreign Exchange Market. And the effect: a further strengthening of the Naira. The first tranche of $280 million was released on Tuesday, on Wednesday, the bank offered additional $100 million to authorised dealers...

Nigeria Deposit Insurance Corporation (NDIC) has concluded plans to prosecute directors and officers of closed Microfinance Banks (MFBs) in which 15 former Directors of the MFBs were involved in malpractices and review two cases of closed Deposit Money Banks (DMBs) involving their former Directors. Chairman, Task force on Implementation of...

The Central Bank of Nigeria (CBN) has disclosed that value of electronic transaction in the banking sector crossed the N40 trillion threshold to N40.5 trillion in 2016 to reflect the growing public confidence in the system as a result of the convenience of electronic transactions and sensitization. The Financial System...

The Central Bank of Nigeria (CBN) has increased the limit on banks' foreign currency borrowings to 125 percent of shareholders' fund after some lenders breached its regulatory limit due to the recent fall in the naira, according to a circular seen by Reuters. The new regulation replaces a 2014 rule...

The Central Bank of Nigeria (CBN) on Tuesday said it sold $100 million in spot sales to small and medium-size enterprises (SMEs) as part of a move to inject liquidity into the official market. The bank on Monday said it was offering SMEs up to $20,000 per quarter in an...

The Association of Bureau De Change Operators of Nigeria (ABCON) on Monday directed its members to ensure that the Naira appreciated against the Dollar and other major foreign currencies. Its President, Alhaji Aminu Gwadabe, who spoke at the directors’ meeting in Lagos, said that it was important that the members...

The Central Bank of Nigeria (CBN) plans to sell shorter-dated dollar forwards to inject liquidity into the official market and try to support the naira, traders said on Monday. The local currency has weakened on both the official and black markets. The bank will auction $100 million on Monday to...

• Singles out Zenith as strongest Fitch Ratings says regulatory stress test results highlight disparities in capital strength across the Nigerian banking sector, with large banks collectively much more resilient to stresses than small ones, According to the world ratings agency, the results, published on 5 April, show that medium...

The Central Bank of Nigeria (CBN) has said that eight of Domestic Systemically Important Banks (D-SIBs) accounted for N11.76 trillion (72.2per cent) of the aggregate industry loans of N16.29 trillion in 2016. CBN in its financial stability report that was released on Wednesday revealed that eight banks earlier designated as...