Nov 25, 2014/Reuters * Bank also raises interest rate by 100 bps to 13 pct * Falling oil prices have undermined Nigeria’s reserves * Cenbank also hikes cash reserves requirement Nigeria’s central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, as it sought to […]

Nov 24, 2014/Reuters Separate but converging efforts are underway in Islamic finance to help develop globally accepted alternatives to conventional repurchase agreements, as the industry tries to crack one of its greatest structural limitations. In the last several years Islamic banks have grown faster than conventional ones, partly because of […]

Depositors have yet to claim about N25bn recovered from the 48 failed banks in the last 25 years, the Nigerian Deposit Insurance Corporation has said. The Managing Director, NDIC, Alhaji Umaru Ibrahim, who disclosed this at a sensitisation programme for stakeholders in Ado-Ekiti, said about N102bn had been paid to […]