The Central Bank of Nigeria (CBN) will give some loan facility to embattled Societe Generale Bank of Nigeria (SGBN) as well as Savannah Bank, to enable them effectively recapitalise and come back to business, BusinessDay can confirm. It was learnt that each of the banks may get as much as […]
World News
NDIC seeks W’Bank aid to amend insurance framework
The Nigeria Deposit Insurance Corporation on Tuesday said it was currently seeking aid from the World Bank to enable it develop a framework that would be used in determining the strength of its Deposit Insurance Fund. The Managing Director, NDIC, Alhaji Umaru Ibrahim, said at the International Association of Deposit […]
Nigerian naira firms further on dollar sales by oil major, banks
Nigeria’s naira firmed further against the U.S dollar on the interbank market on Wednesday, boosted by dollar sales by some unit of foreign banks and U.S. oil major Chevron, traders said. The local unit closed at 157.04 to the dollar on the interbank, stronger than 157.15 at Tuesday’s close. Traders […]
