Press/UBA Foundation Elumelu urges corporate Africa to take up the challenge Lagos, Nigeria 12 November, 2014 — The United Bank for Africa (UBA) Board Chairman, Tony O Elumelu, has announced the donation of $1million, to assist the fight against Ebola, currently present in three West African countries, where UBA does […]
Money Market
Nigerian naira slips on strong foreign demand for dollars
Tue Nov 11, 2014/Reuters Nigeria’s naira currency weakened slightly on the interbank market on Tuesday due to strong demand for dollars from foreign investors. The local currency closed at 168.40 to the dollar, compared with 168.20 the previous day. Traders said the central bank had intervened in the market to […]
Banks to lose N40bn to new CBN regulation
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, […]
