In a bid to forestall another crisis in the banking sector, the Central Bank of Nigeria has placed restriction on lending relationships between Deposit Money Banks and their holding companies. The Governor, CBN, Mr. Lamido Sanusi, said at an investors’ conference organised by Renaissance Capital in Lagos on Monday that […]
World News
Nigeria naira eases on dollar demand, liquidity
The Nigerian naira eased against the U.S. dollar on the interbank market on Monday, reflecting strong demand for the greenback from importers, traders said. The naira closed at 157.40 to the dollar, weaker than Friday’s close of 157.30 naira. At a foreign exchange auction on Monday, the central bank […]
FirstRand moves to acquire nationalised bank
Fresh facts have emerged that First Rand Bank, one of South Africa’s biggest banks, may acquire one of the nationalised banks under the control of the Asset Management Corporation of Nigeria. The Chief Executive Officer, FirstRand, Mr. Sizwe Nxasana, said during the inauguration of Rand Merchant Bank Nigeria on Thursday […]
