MONEY MARKET

United Bank for Africa (UBA) has continued to receive accolades and global recognition for its commitment to the use of cutting-edge technology to provide simple and convenient banking solutions and services to its customers. The pan African banking Group was adjudged winner in two categories at the recently concluded Finacle...

MEC, Inc. announced today that it has entered into agreements with pan-African financial services group, United Bank for Africa Plc (UBA) to provide a revolutionary email-based billing, payment and banking software system called "EmailMoni." According to a press statement by UBA, EmailMoni represents the world's latest fin-tech for cloud banking...

Nigeria sold N81.47 billion ($267.55 million) in short-dated treasury bills at an auction on Wednesday, with mixed yields, data from the central bank showed on Thursday. The Central Bank of Nigeria (CBN) had proposed to sell N138.16 billion worth of the debt in its initial announcement. A total of N20.92...

Nigeria's overnight interbank rate crashed on Wednesday to around 20 percent from 150 per cent after the Central Bank of Nigeria (CBN) sold less hard currency than expected at a special auction, traders said. According to Reuters’ report monitored by Business247 News Online, "The Central Bank f Nigeria has released...

First Bank Nigeria to offer loans at 20% interest to buy cars Uber plans to double driver-partners by year-end from 2,000 Uber Technologies Inc. is partnering with FBN Holdings Plc’s First Bank Nigeria to provide loans to drivers as a cash crunch in Africa’s most populous nation and a shrinking...

The Central Bank of Nigeria (CBN) has amended the guidelines on transaction switching in the country. The directive towards this was contained in a circular to all banks, mobile money operators and payments services providers the CBN placed on its website on Tuesday. The circular by the apex bank was...

Zenith Bank says the current economic challenges facing Nigeria has not impacted on the Bank’s operations in Ghana. According to news report by GhanaWeb, Zenith Bank Ghana is also confident of the company’s prospects in the country despite similar prevailing economic challenges facing the Ghanaian economy. The high interest rates,...

Lagos traders on Friday were optimistic that the economy would soon rebound as the Nigerian currency continues to appreciate in all the major segments of the forex market. The Naira on Friday continued to hedge against the dollar in all the major segments of the forex market. At the parallel...

...As CBN set to sell N138.16b worth T-bills The Naira on Wednesday depreciated by N2 against the United States dollar at the parallel market as it currently trades at N467 compared to N465 which it traded on Tuesday. Business247 News Online notes that the currency also appreciated against the British...

Nigeria Communications Commission (NCC) said on Tuesday it has approved a request by internet provider Visafone to transfer its shares to MTN following its takeover by the South African firm. According to a Bloomberg report monitored by Business247 News Online, MTN bought Visafone in January to improve its broadband services...