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 […]
Money Market
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, […]
Ecobank Signs $50 Million Loan Facility
By InvestAdvocate Lagos (INVESTADVOCATE)-Pan-African lender, Ecobank Transnational Incorporated (ETI) said on Thursday it has signed a one-year seniour unsecured loan facility of $50 million arranged by Deutsche Bank AG. “The facility will be used for general corporate purposes,” the lender said in an issuer’s announcement to the Nigerian Stock Exchange […]