The naira closed at a seven-month low against the dollar on Wednesday. The local currency closed against the greenback at N164.50, despite a Central Bank of Nigeria intervention. This came as falling oil prices pushed investors out of domestic debt and equity markets, dealers said. The naira had firmed up […]
Money Market
Fitch Says Nigerian Banks Doing Well Despite Hurdles
AMCON Levy Worsened bank earnings By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Global rating agency, Fitch Ratings on Wednesday gave Nigerian banks pass mark despite the twin hurdles of tight monetary policy actions and new banking rules, Fitch says in a new special report. “This is mostly supported by continuing robust economic […]
Islamic Finance: Oman Adopts Nigeria’s Approach, Sets up Central Sharia Board
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-In its bid to boost Islamic finance in the Gulf region, the Oman central bank on Wednesday said it has set up a central sharia board to help supervise the Islamic banking industry in that region, according to a Reuters report. This is the same […]
