By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Barclays Africa Group Ltd’s corporate and investment banking unit is seeking an investment banking license in Nigeria, a Bloomberg report said on Monday. According to the report, Barclay Africa has approached authorities in Nigeria for approval to convert its representative office to a fully fledged […]
Money Market
CBN Asks Banks for Dollar Levels for Support as Naira Closes at N198/$1
By InvestAdvocate Lagos (INVESTADVOCATE) – The Central Bank of Nigeria (CBN) said on Thursday the interbank market rate closed at N198/$1 at the end of the day’s transactions compared to N198.50/$1 it closed on Friday. A Reuters report affirmed that the CBN requested banks to once again submit their dollar […]
CBN sells $350m to halt naira’s fall
The Central Bank of Nigeria (CBN) intervened Friday with about $350 million foreign exchange sale to dealers at its official exchange rate, halting the naira’s slide to a record low. The regulator sold foreign-exchange at a rate of N198.50 per dollar, weaker than its target band of N159.60 to N176.40, […]
