Sept 9, 2015/Reuters The 1-year non-deliverable forwards (NDF) on Nigeria’s naira rose 2.79 percent to 268.50 on Wednesday, a day after a surprise move by JP Morgan to eject the African nation from its government bond index, Thomson Reuters data showed. Currency forwards, a derivative product used to hedge against […]
Money Market
CBN to Sanction Banks on Non-Compliance of Remittance to Treasury Single Account
by Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said on Tuesday that banks that fail to meet up with the September 15, 2015 deadline on the remittance of funds into the Treasury Single Account (TSA) will face sanctions. In August, President Muhammadu Buhari directed payment of government […]
Nigeria’s UBA cuts 2015 loan growth forecasts as economy falters
September 8, 2015/Reuters Nigeria’s United Bank for Africa (UBA) has lowered its forecast for 2015 loan growth to 5 to 8 percent from 15 to 20 percent as rising regulatory and economic uncertainty increase risks to lending, the bank said on Tuesday. UBA CEO Phillips Oduoza told an investor call […]
