Jan 8, 2015/Bloomberg The naira advanced the most since November 2003 as oil companies and the Central Bank of Nigeria increased sales of foreign exchange. The currency of Africa’s biggest crude producer rose 3.8 percent to 179.55 per dollar as of 4:43 p.m. in Lagos. The naira appreciated 2.2 percent […]

Jan 8, 2015/Bloomberg The Asset Management Corp. of Nigeria plans to begin the sale of Keystone Bank Ltd., the biggest of three lenders nationalized after a 2009 financial crisis, in the second quarter after general elections next month. “We chose to start in the second quarter to allow for elections […]

The difficult regulatory environment, which is due to take toll on the financial sector this year, has forced a number of banks to commence the process of cutting jobs and put on hold branch expansion plans. While some of the banks laid off some workers late last year, it was […]