The naira gained for a third day and headed for its strongest in more than two weeks on speculation that Nigerian oil producers will sell dollars to meet month-end expenses before a currency auction today. The currency of Africa’s second-biggest economy rose less than 0.1 percent to 158.15 per dollar […]
World News
Last-minute Cyprus deal to close bank, force losses
Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro bailout. The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations […]
Is CBN over-regulating the banks?
While some experts believe the banking sector needs strong regulation to avoid another financial crisis, others think they are being over-regulated and coerced, Ademola Alawiye writes. The banking sector in any economy serves as a catalyst for growth and development and is, therefore, critical to the economy in terms of […]
