Nigeria’s overnight lending rates soared by 10 percentage points to a more than two-year high of 35 per cent on Wednesday, dealers said, after the Central Bank of Nigeria squeezed liquidity to support the local naira currency. The naira closed at its firmest in two weeks, at N160.10 against the […]
Author: InvestAdvocate
Dangote Sugar’s profit rises by 91%
Dangote Sugar Refinery Plc has reported a 91 per cent appreciation in its profit after tax for the second quarter ended June 30, 2012. The operating results of the company, which was released on Wednesday, showed that its profit after tax that stood at N2.9bn in the second quarter a […]
Standard Chartered begins fighting back on Iran allegations
Standard Chartered won some help from Britain’s central bank governor on Wednesday in its fight against the New York banking regulator’s allegations that it had hidden $250 billion of transactions with Iran. The London-based bank lost more than a quarter of its market value in 24 hours after the New […]
