Mon Jun 29, 2015/Reuters By Chijioke Ohuocha The cost of borrowing for Nigeria rose on Monday and the naira currency weakened again in the wake of the central bank’s new foreign exchange rules to conserve scarce reserves, traders said. ADVERTISING Investors had hoped for a sustained rally after smooth […]
Money Market
Naira Dip 2.7% on Black Market, Trades N226/$1 since New CBN FOREX Rules
By InvestAdvocate Lagos (INVESTADVOCATE) –The naira on Monday traded N226 to the dollar on the parallel (Black) market down 2.7 percent since the introduction of the Central Bank of Nigeria (CBN) new foreign exchange (FOREX) to curb declining foreign reserves, a Reuters report quoted traders. The report says the Nigerian […]
Fidelity Bank Rewards Customers with N52 Million on Loyalty Savings Scheme
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s top tier lender, Fidelity Bank Plc has rewarded customers of the bank with N52 million on the Fidelity Loyalty Savings Scheme, it said in a statement on Thursday. Nnamdi Okonkwo, managing director/chief executive officer, (MD/CEO) of the bank said that it will continue to […]
