Deposit Money Banks will lose over N40bn in interest income to the Central Bank of Nigeria’s new regulation which reduces lenders’ remunerable daily placement at the CBN’s Standing Deposit Facility to N7.5bn, Afrinvest Research has shown. This comprises banks’ interest income from November 2014 to December 2015. The CBN had, […]

Financial markets expected Moody’s Investors Service downgrade of the South African government’s debt rating, Investec said on Friday. “The Moody’s downgrade was expected, as typically the agency keeps SA’s rating one notch above the rating of either Fitch and/or (Standard & Poor’s) depending on which has the lowest rating for […]

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 […]