MONEY MARKET

Skye Bank Plc has informed the regulatory authorities, shareholders and other stakeholders that it would be late in filling its interim Financial Statements for the periods ended March 31, and June 30, 2016. The lender, in a notice to the Nigerian Stock Exchange (NSE), gave the reasons which necessitated the...

The Central Bank of Nigeria, (CBN) has charged Authorized Dealers, who are agents to the approval of International Money Transfers Operators (IMTSO), to sell foreign currency cash to licensed Bureau De Change operators (BDCs), subject to a maximum of USD30,000.00 ( Thirty Thousand United States Dollars) weekly. The apex bank,...

First City Monument Bank Limited (FCMB) has said that holders of its MasterCard, Visa and Verve payment cards are in for seamless service following the full implementation of its recently-introduced technology solution called Finacle 10. In a statement by the bank, intending holiday makers will now have access to over...

Mr. Ahmed Kuru, Managing Director (MD) of the Asset Management Corporation of Nigeria (AMCON) says the management of the corporation has finally concluded plans over the sales of Keystone Bank and will announced the new buyer this week. Kuru, while speaking on a live TV program over the weekend noted...

The Central Bank of Nigeria (CBN) has directed Nigerian banks to resume dollar sales to Bureaux De Change (BDCs) seven months after it stopped the practice. The apex bank stopped the sales last January because of what it called dollar scarcity and abuse of operating guidelines. But, President, Association of...

Naira hit 400 against the dollar on the black market on Friday, bureaux de change traders said, falling to its lowest since the Central Bank of Nigeria (CBN) floated the currency in June. On the official interbank market, the naira ended at 311 per dollar, 0.3 percent weaker, after trades...

…to wind-down operations in 2023 Asset Management Corporation of Nigeria (AMCON)  yesterday posted a loss of N304.35 billion in 2015, wider than last year's loss of N275.49 billion, after it wrote-down the value of collateral recovered from its purchase of bad loans. Executive Director, AMCON, Mr. Aminu Ismail, said the...

The Central Bank of Nigeria (CBN) has advised Nigerians at home and abroad to beware of the activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria. The advice is conveyed through a press statement signed by CBN’s Acting Director of Communication, Mr Isaac Okorafor in Abuja on Tuesday....

  As CBN charges banks to provide for dollar loans The Naira today depreciated further against the dollar at the parallel market, Business247 News Online reports. The Nigerian currency exchanged at N380 to the dollar, from N378 it traded on Monday, while it exchanged against the Pound Sterling and the...

The Central Bank of Nigeria (CBN) has told commercial lenders to set aside extra provisions against their dollar loans immediately in the wake of the sharp fall in the naira, Reuters reported. The nation’s currency has dropped 40 per cent since June, when Nigeria ditched its 16-month-old peg of 197...