The nation’s foreign exchange reserves climbed to $38.49bn, a 3.8 per cent increase on its value month ago, when they stood at $37.09bn, owing to a more stable naira, data from Central Bank of Nigeria showed on Tuesday. The naira has remained stable against the dollar for the past two […]

By Peter OBIORA InvestAdvocateLagos (INVESTADVOCATE)-Godwin Emefiele, NEW Nigeria’s central bank governor has retained benchmark interest rate at 12 percent in his first monetary policy committee (MPC) meeting; while promising to lower borrowing costs gradually as price pressures ease. “As we begin to see that the macroeconomic levels are moving in […]

Credit Suisse Group AG, Switzerland’s second-biggest bank, posted its biggest quarterly loss since 2008 after settling an investigation by the U.S. Department of Justice for $2.6 billion in May. The bank’s net loss in the second quarter was 700 million Swiss francs ($779 million), compared with a profit of 1.05 […]