Tue Feb 17, 2015/Reuters Nigeria’s central bank intervened for the third straight session on Tuesday to defend the naira by selling dollars below its official band but the currency traded weaker in the interbank market. Dollar sales by an oil firm were traded at a weaker level than in the […]
Money Market
CBN Issues New Policy on Dormant Accounts
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) announced on Tuesday it has introduced a new policy regarding the management of dormant accounts balances by deposit-taking financial institutions, a circular signed by Kevin Amugo, Director, Financial Policy and Regulation Department of the CBN said. The CBN says […]
Barclays Africa Seeks Investment Banking License in Nigeria
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 […]