The Central Bank of Nigeria has granted a national banking licence to Fortis Microfinance Bank Plc. The approval was confirmed by the Chairman of the bank, Mr. Felix Achibiri, while speaking during the bank’s Annual General Meeting held on Tuesday in Abuja. He said with the national banking licence, the […]
Money Market
China market slump: Central bank cuts interest rates
August 25, 2015/ BBC The People’s Bank of China cut its main interest rate by 0.25 percentage points to 4.6% in an effort to calm stock markets after two days of turmoil. It is the fifth interest rate cut since November and will take effect on Wednesday. The move has […]
Naira Rallies Again, Settles At N208 – $1 In Parallel Market
August 21, 2015/ The Will Nigeria’s naira has sustained the gains recorded this week, edging higher on Friday against the U.S dollar at the parallel market — N208 / $1 — having traded at N223 on Monday and N212 just yesterday (Thursday), THEWILL can report. The British Pound Sterling and […]
