Nigeria’s interbank lending rates eased to an average of 14.91 percent this week from 13.50 percent last week as liquidity in the market ebbed on cash withdrawals by the state-owned energy company NNPC.  NNPC sells dollars to some lenders on a monthly basis and transfers a portion of the naira […]

Five big U.S. banks accused of abusive mortgage practices have agreed to a $25 billion government settlement that may help roughly one million borrowers but is no magic bullet for the ailing housing market. Thursday’s announcement brings an end to 16 months of negotiations that culminated in a tense week […]

Nigeria’s First City Monument Bank said on Friday it has completed the acquisition of rescued lender Finbank, which it says will double its branch network and customer base.  FCMB shares were up almost 4 percent on Friday at 4.10 naira per share.  The mid-size lender has won all necessary regulatory […]