MONEY MARKET

The European Investment Bank and United Bank for Africa (UBA) have agreed a new €60 million lending programme to support private sector investment across Nigeria. This represents the EIB’s largest ever loan to UBA and will allow the bank to provide longer term loans than currently available to private companies...

CBN, NDIC assures they are healthy A report has said that some banks in Nigeria may have been experiencing a “full-blown financial crisis” due to a cash crunch arising from “failed fiscal and monetary policies”. The Arqaam Capital report published by Bloomberg on Monday said this. Arqaam Capital is a...

Yields on Nigeria's short-dated treasury bills fell across the board at an auction on Wednesday, when the Central Bank f Nigeria (CBN) sold bills worth 129.67 billion naira ($411.65 million). Reuters’ report monitored by Business247 News Online says a total of 28 billion naira of 3-month paper was sold at...

Nigerian banks are finding it difficult to raise capital as shrinking economy cuts revenue and deters investors, the industry’s regulator said. According Bloomberg story monitored by Business247 News Online, “It’s been tough,” Umaru Ibrahim, managing director of the Nigerian Deposit Insurance Corporation (NDIC), said in an interview in Abeokuta on...

Access Bank has released a bond prospectus on the Irish Stock Exchange showing its plans to raise a total of $1 billion under its Global Medium Term Note Program- the amount to be borrowed in this series is yet to be announced. The road show kicked off today as management...

Ecobank has won the awards for the Best Trade Finance Services in Africa and Best Treasury Services in Africa in this year’s Treasury Services Awards, organised by financial trade magazine EMEA Finance. The awards, according to a statement from the firm, and made available to Business247 News Online today, were...

  Meets investors in U.S., Europe starting Tuesday Funds will be for loans to exporters, working capital Access Bank Plc is set to issue the first Eurobond from Nigeria in almost two years after choosing banks to arrange a new deal. According to Bloomberg report monitored by Business247 News Online,...

Mr Ike Chioke, Managing Director, Afrinvest West Africa Limited, has commended the Central Bank of Nigeria (CBN) in taking a tough policy decisions to restore confidence and make the economy attractive for foreign capital inflows. Chioke, while speaking at the official lunch of the ‘Nigerian Banking Sector Report’ by Afrinvest...

The interbank lending rate eased to around 15 per cent on Friday, down from nearly 40 per cent for overnight lending a week ago, as the disbursal of August budget allocations to government agencies boosted market liquidity. According to Reuters report monitored by Business247 News Online, overall, the market had...

 Most Deposit Money Banks (DMBs) in the country had issues with cash to meet their immediate financial obligations last week, going by the recent report from Cowry Assets Management Limited.The assets management company, in its recent report stated that there was a recent rush by banks to the Central Bank...