The President, Islamic Development Bank, Jeddah, Saudi Arabia, Dr. Ahmad Ali, says Islamic banking has the capacity to boost economic growth and development in Nigeria. He said the banking system could help the government to raise huge sums of money to finance developmental projects in the country. He added that […]

Jan 6, 2015/Bloomberg The naira weakened a second day and Nigerian stocks headed for biggest drop since 2010 as central bank measures to protect the currency of Africa’s largest crude producer from falling oil prices stifled trading. There were nine trades in the naira between 9 a.m. and 12:30 p.m. […]

Jan 1, 2015/Bloomberg Nigerian President Goodluck Jonathan said the West African nation will keep its currency strong and its economy stable in 2015 as it seeks to boost investor confidence following a downturn in oil prices. The government will “take away speculative behaviors’ and maintain ‘‘healthy’’ external reserves to ‘‘ensure […]