The Ecobank Transnational Incorporated (ETI) has announced the opening of its Equatorial Guinea affiliate. A statement from the pan-African bank said the Ecobank Equatorial Guinea was issued a licence to operate as a credit institution in the country and became the 33rd affiliate of the Group in Africa. The Group’s […]
World News
Naira Weakens on Dollar Sales Suspension, Extends Week’s Drop
Nigeria’s naira declined, extending this week’s retreat, as the Central Bank of Nigeria’s suspension of foreign-exchange auctions curbed demand for the currency. The currency of Africa’s biggest oil producer slipped 0.3 percent to 156.7 per dollar on the interbank market as of 2:30 p.m. in Lagos, the commercial capital. The […]
Increase in lending rate’ll dampen credit creation – Analysts
Experts have said the successive increase in the lending rate in 2012 by the Central Bank of Nigeria will dampen credit creation in the economy. The experts, who spoke with our correspondent on Thursday, said that the move by the MPC had increased the cost of borrowing, which was having […]
