September 14, 2021/CBN In line with our continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements). […]
Money Market
Parallel Market Rate at an All-Time High
September 14, 2021/CSL Research In recent weeks, severe pressure has been mounting on the exchange rate at the parallel market following the Central Bank of Nigeria’s (CBN) policy stance to discontinue the supply of FX to Bureau De Change Operators (BDCs). Consequently, the premium between the parallel market rate and […]
Nigerian Banks: H1 2021 Scorecard
September 14, 2021/Coronation Research The scorecard for the listed banks that have reported their H1 results is mixed. We believe that it is a matter of timing changes in interest rates and that Q3 is likely to be a better story than Q2 and H1. FX Last week, the exchange […]
