By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigerian (CBN) on Wednesday directed authorised dealers to temporarily review downward to zero percent from one percent of their shareholder’s funds as foreign exchange trading position at the close of each business day. This is contained in a CBN’s circular with […]

By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global rating agency, Fitch Ratings on Thursday predicated a negative sector outlook for Nigerian banks in 2015, according to its latest report. According to Fitch, oil price shock and the resulting policy moves leads to a negative sector outlook for the Nigerian banks. The agency’s […]

Dec 18, 2014/Bloomberg Nigerian foreign-currency dealers halted trading after a central bank rule change meant to limit speculation against the plunging naira confused investors. “This raises concerns about the credibility of the central bank,” Kevin Daly, senior portfolio manager at Aberdeen Asset Management Plc, said by phone from London. “If […]