MONEY MARKET

As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meets on Monday and Tuesday experts expect the Committee not to change the key rates at the end of the meeting. In its January meeting, it retained the Monetary Policy Rate (benchmark interest rate), Cash Reserves Ratio...

The Naira is set to appreciate further in the week as the Central Bank of Nigeria (CBN) plans to inject more Foreign Exchange (Forex) into the market to meet the requests of genuine customers. The CBN spokesman, Mr Isaac Okorafor, gave the assurance in a statement on Sunday in Lagos....

The Central Bank of Nigeria (CBN) said on Thursday that it had sold more treasury bills than originally planned at an auction after it lured demand for one-year debt with yields above inflation. The bank raised 253.8 billion naira at an auction on Wednesday, 40 billion naira more than it...

Fidelity Bank has exposure of around N17.5 billion naira ($56 million) to Etisalat Nigeria, the Nigerian lender's investor relations team said on Thursday. The Nigerian arm of Abu Dhabi-listed telecoms company Etisalat is in talks with local banks to renegotiate the terms of a $1.2 billion loan it took out...

Fidelity Bank Plc has reiterated its resolve to support operators in the entertainment industry. The bank's Chief Executive Officer, Mr. Nnamdi Okonkwo, said this on the Fidelity SME Forum monitored on Inspiration FM, which he anchored yesterday. The programme had popular comedian, Atunyota Akporobomerere, whose stage name is Ali Baba....

The Naira on Tuesday sustained its gain against the dollar at the FOREX market, the News Agency of Nigeria (NAN) reports. The Nigerian currency exchanged at N455 (Buying rate), N457 (selling rate) at the parallel market, from the N455/460 it traded on Monday, while the Pound Sterling and the Euro...

The Minister of Finance, Mrs. Kemi Adeosun, has urged the Central Bank of Nigeria (CBN) to extend Bank Verification Number (BVN) requirement to account holders in Microfinance Banks (MFBs). According to her, this would facilitate the detection of bank accounts which might have been opened and operated in such banks...

The Central Bank of Nigeria will this week inject more dollars into the foreign exchange market as part of efforts to improve the level of liquidity in the interbank market. The Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor, confirmed the plan to release more dollars into the forex...

Sterling Bank Plc, has launched a new proposition known as, ‘One Woman’ to commemorate the International Women’s Day in Nigeria with the theme ‘Be Bold for Change.’ The product was launched by Mrs. Ifeyinwa Ighodalo, the Chief Executive Officer of DO.II Designs Limited and the wife of the Chairman of...

The Central Bank of Nigeria (CBN) has directed commercial banks to sell foreign exchange (forex) on medical bills and school fees to customers within 48 hours of filing a demand request. The Director, Financial Markets Department, Dr Alvan Ikoku in a signed circular to all commercial banks with reference number...