* Osun State issues Nigeria’s first sukuk -bankers * Nigeria tapping into growing demand for Islamic debt Nigeria’s Osun State has issued a 10 billion naira ($62 mln) sukuk yielding 14.75 percent, bankers said on Wednesday, the first Islamic bond from a major economy in sub-Saharan Africa. The cocoa-producing, southwestern […]
Author: InvestAdvocate
Banks await outcome of new forex auction system
Banks and financial market dealers are waiting to see how the Central Bank of Nigeria’s newly introduced retail foreign exchange auction system, called Retail Dutch Auction System, will affect the economy. The CBN had on Wednesday replaced the wholesale foreign exchange auction method, called Wholesale Dutch Auction System, with the […]
NIBSS announces N3.8bn gross earnings
Nigeria Inter-Bank Settlement System Plc on Wednesday said it realised N3.8bn in gross earnings for the financial year ended June 30, 2013. The Chairman, NIBSS, Mr. Tunde Lemo, said this at the company’s Annual General Meeting in Lagos. According to him, the company’s gross earnings for 2013 represent a 52 […]
