Nigeria sold N171.26bn ($1.03bn) worth of treasury bills with maturities ranging between three months and one year at an auction this week, with mixed yields, the Debt Management Office said on Thursday. The debt office said N59.88bn worth of three-month paper was sold at 9.80 per cent, 15 basis points […]
Money Market
Naira Rebounds From 7-Month Low on Nigerian Intervention
Nigeria’s naira strengthened, rebounding from the lowest level in seven months, on speculation the central bank is intervening by selling dollars. The currency of Africa’s largest economy gained 0.2 percent, the most since Oct. 13 on a closing basis, to 165.10 against the dollar as of 5:07 p.m. in Lagos, […]
CBN Says Bank Verification Number Now Condition for New Loans WEF Nov’03
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Tuesday said all new loans must have the Bank Verification Number (BVN) as a condition precedent to drawdown with effect from November 03, 2014. This is contained in a circular with reference number BPS/DIR/GEN/CIR/01/015 dated Tuesday October 21, […]
