Nov 7, 2014/Bloomberg Nigeria’s central bank intervened in the market to defend the naira after it plunged to an all-time low amid a drop in oil prices, Deputy Governor Sarah Alade said. “We are in the market now,” Alade said by phone from the capital, Abuja. “We haven’t abandoned the […]
Money Market
ECOBANK Says Its Rapid Transfer, Fastest/Most Convenient
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Ecobank’s Rapid Transfer product is fastest and most convenient way to transfer money across Nigerian and Africa, Tony Okpanachi, deputy managing director (DMD) of Ecobank Nigeria said on Thursday. Okpanachi in a chat with journalists at the end of year money transfer solutions for bank […]
CBN Ban Dollar Sales as Naira Falls to Record Low
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Thursday banned the sale of dollars to importers of telecom equipment, power generators and finished products at its foreign exchange auction, instead shifting demand to the interbank market, dealers, a Reuters report quoted dealers as saying. The report […]
