MONEY MARKET

Ecobank Nigeria has bagged an international certification for Greenhouse Gas Auditing. The  internationally acclaimed  ‘‘Built on GHG Protocol' certificate is the most widely used accounting tool issued by the World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD). The Greenhouse Gas Auditing and Reporting was conducted on...

First Bank of Nigeria Holdings Plc today announced the appointments of a new memebers  into the Board of FBN Holdings Group. The appointments which were approved by the Board of Directors since July 19, 2016 remained subject to all necessary regulatory approvals. Ms. Cecilia Akintomide and Mrs. Oluwande Muoyo are...

Naira weakened to an all-time low of 334.50 against the dollar on the interbank market on Wednesday, a day after the central bank hiked interest rates to try to lure foreign investors back into local assets, traders said. A report from Reuters monitored by Reuters said. The naira fell 5.8...

Stanbic Bank has been formally awarded a banking license in Côte d’Ivoire in a drive towards establishing a presence in Francophone West Africa market. It will be recalled that the Group opened a representative office in December 2013, and now gearing up to commence banking operations in a market which...

The Central Bank of Nigeria (CBN) has settled $697m one-month outright currency forwards it sold in June at an exchange rate of 280 naira per dollar, one trader said on Friday. According to Reuters’ report, the $697 million, part of $4 billion auctioned after the naira was floated last month...

The President, Association of Bureaux De Change Operators of Nigeria (ABCON),Alhaji Aminu Gwadabe, has  said that new directive of the Central Bank of Nigeria (CBN) on foreign exchange (FX) will stem exchange pressure currently witnessed in the country. He also said the directive will help determine a realistic exchange rate...

The Central Bank of Nigeria (CBN) has instructed authorized dealers that include Access Bank Plc, Zenith Bank Plc, and other authorized deals in the country to commence sales of foreign exchange to Bureau De Change (BDCs). CBN in a circular signed by Acting Director, Trade & Exchange, Mr. W. D...

The Executive Director, Finance & Strategy of Sterling Bank Plc, Mr. Abubakar Suleiman has assured that the bank would consolidate on the positive ratings by the various international rating agencies by ensuring that it continues to deliver quality banking services to its customers and adhere strictly with best practice as...

The outgoing Group Managing Director/Chief Executive, United Bank of Nigeria (UBA), Plc Mr Philips Oduoza, has said that volatility and instability in governance in some African countries have exposed most major banks in Africa to political risk. Oduoza, while given a lecture on the” Emergence of a Nigerian Pan-African Bank”...

The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has lamented over the increasing wave of non-performing in various banks across the country. He thus called for strict compliance with the existing code of conduct and a review of the existing laws and regulations to provide...