By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s local currency the naira on Monday closed at a new record low of N191.10 compared to Friday’s N190.60 despite the intervention by the Central Bank of Nigeria (CBN), a Reuters report said. According to the report, quoting a dealer, the naira continued to weaken […]
Money Market
UBA boss sees no significant naira devaluation
The Group Managing Director and Chief Executive Officer, United Bank for Africa Plc, Mr. Phillips Oduoza, says he does not see any significant devaluation of the naira happening in the country as the country has enough external reserves to keep supporting the naira. As a result, he urged investors in […]
NDIC Grants Banks N192.6 Billion Rebate on Insurance Premium
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Nigeria Deposit Insurance Corporation (NDIC) on Friday said it has granted N192.6 billion rebate on insurance premium to banks in the last three (3) years, it said in a statement. According to the Corporation, the reduction of the premium base rate paid by Deposit […]