The removal of about $800m from the foreign exchange market following the closure of the Retail Dutch Auction System and Wholesale Dutch Auction System window by the Central Bank of Nigeria will put further pressure on the naira, analysts have said. In a move to calm the forex market, the […]

Fri Feb 20, 2015/Reuters Nigerian overnight lending rates fell to an average 25 percent on Friday from a record high of 95 percent last week after the central bank retired about 100 billion naira ($502.77 million) in Treasury bills, dealers said. Traders said the repayment of matured Open Market Operation […]

Press Release Feb 21, 2015/UBA Pan-African Bank, United Bank for Africa (UBA) Plc has emerged winner in three categories of the maiden edition of the MasterCard Cashless Champion Awards. The initiative was launched in October 2014 by global payments technology company, MasterCard, and is aimed at encouraging the adoption of […]