Loan default by customers made 13 Deposit Money Banks to lose a combined sum of N138bn in the 2014 financial year, according to calculations by our correspondent. Data obtained from the 2014 annual reports of the banks showed that the various losses were incurred under their respective interest expenses, which […]

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained its benchmark interest rate at 13 percent to preserve foreign exchange reserve that has eroded overtime and to support the weak naira. In the same vein, cash reserve requirement (CRR) […]

May 17, 2015/Bloomberg Nigeria’s state-owned Bank of Industry, which provides funding for companies in the West African nation, plans to sell its first debt as it seeks to support diversification of the economy from oil and boost employment. The debt “will most likely be issued next year as local bonds […]