By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said on Thursday it has no plan to convert domiciliary account deposits of customers in Nigerian banks into naira. Part of a statement by Ibrahim Mu’azu, CBN’s director, corporate communications reads thus “The attention of the Central Bank of […]
Money Market
Naira Closed 202/$1 as Oil Firm Sells Dollar below CBN Rate
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Wednesday depreciated against all major currencies. The local currency decreased by 70 points and 100 points against the dollar and pound to trade at N202/$1 and N313.02/£1 respectively. Similarly, the naira declined by 82 points on the Euro to trade at N229.28/€1. […]
‘Mobile money market to hit $1.5bn by 2019’
Mobile Money market in sub-Saharan Africa could produce an estimated $1.5 billion in fees for mobile-money providers by 2019, a research report released by the Boston Consulting Group (BCG) has revealed. According to the report, sub-Saharan Africans are looking for more-secure ways to borrow and save money and are open […]
