9/6/2016/Reuters Nigeria’s naira tumbled against the dollar in the non-deliverable forward markets on Thursday, as uncertainty continued over a potential liberalisation of the currency. Three-month non-deliverable forwards showed the naira trading at around 278 per dollar, weakening 2.2 percent on the day, and the weakest since June 3. One-month non-deliverable […]
Money Market
AfDB approves USD 150-million line of credit to UBA
8/6/2016/AfDB The Board of Directors of the African Development Bank Group (AfDB) through its private sector window has approved a USD 150-million line of credit (LOC) to United Bank for Africa Plc (“UBA”) in Nigeria. UBA, one of the largest commercial banks in Nigeria, was incorporated in 1961 and operates […]
Nigeria naira quoted at 367 as dollar scarcity hits black market
Wed Jun 8, 2016/Reuters Nigeria’s naira was quoted at 367 on the black market on Wednesday, down 1.6 percent against the dollar as delays by the central bank in explaining how its new forex policy would work increased speculation on the currency. The naira traded at 199.40, within central bank’s […]
