MONEY MARKET

Loans to banks by the Central Bank of Nigeria (CBN) dropped sharply last week by 3.8 per cent to N168 billion. Busiesss247 News Online revealed that lending to banks through the CBN’s Standing Lending Facility (SLF) dropped from N174 billion the previous week Thursday to N168 billion at the close...

Wema Bank Plc. has launched a new mobile branch “Wema Bank on Wheels” which will be operating on solar power in order to be accessible to everyone in all parts of the country. The new truck where normal branch services are offered is also fitted with two automated teller machines...

The Federal Government on Wednesday auctioned  Treasury bills viz: 91-day bills worth N36.786 billion, 182-daybills worth N39.175 billion and 364-day bills worth N120 billion via primary market. In the week ahead, the Debt Management Office (DMO) is scheduled to conduct its first Primary Market Auction in 2017. The DMO will...

Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December. Investigations by the News Agency of Nigeria (NAN) on Monday indicated that more workers are penciled for sack. NAN reports that the bank, in October 2014, acquired Enterprise Bank with about N56 billion (281...

  Stanbic IBTC Bank, a member of Stanbic IBTC Holdings, has charged parents to take advantage of its bouquet of payment solutions in order  minimize the financial burden of school fees as schools reopen for a new term. The bank listed its educational payment solutions to include Short Term Loans,...

As we enter into the New Year, all eyes are on the Central Bank of Nigerian (CBN) and its administrative team to reshape and restructure the nation’s declining economy. NIYI OLAOYE in this analysis, therefore, x-rays the performances of the present administration with its various initiatives in taming the unwanted...

The Central Bank of Nigeria (CBN) has no plans to devalue the naira, the head of a money changers’ body said after meeting policy makers, according to Bloomberg report. Officials are “not looking at devaluation” as rising oil prices boost reserves, according to the Association of Bureaux De Change Operators...

  There are indications that a total number of 6,488 Point of Sales (PoS) merchants in the country have stopped using the terminal as a result of the excess charges imposed by the regulatory body. It will be noted that there was a total number of declined from 142,814 in...

Following the prediction by some financial analysts that the naira may hits N500 to a US dollar at the parallel market, the Nigerian local currency on Wednesday January 11 fell further by one point to close at 492 per dollar against 491 it was traded on Tuesday. In the early...

The Central Bank of Nigeria (CBN) officials will meet bureau de change operators on Tuesday to try to find ways to eliminate the gap between the official and black market dollar rates, the association president told Reuters. According to Reuters’ report, the naira lost a third of its official value...