March 24, 2017/Reuters Nigeria’s overnight lending rate rose as high as 100 percent this week after the central bank withdrew naira liquidity to offset dollar purchases, but it fell sharply on Friday as the government disbursed budget funds through the banking system. Overnight rates fell to 10 percent on Friday […]
Money Market
Dealers Pick $81.3m Out Of $100m Offered By CBN
Culled—Proshare March 24, 2017/CBN Following Thursday’s FOREX wholesale auction, the Central Bank of Nigeria (CBN) on Friday, March 24, 2017, concluded transactions on the sum of $100 million earlier offered at the interbank market to meet customers’ demands, out of which authorized dealers were only able to pick $81.347 million […]
Zenith Bank shelves plans to raise 100 bln naira due to weak economy
23/3/2017/Reuters By Oludare Mayowa Nigeria’s Zenith Bank has shelved plans to raise 100 billion naira ($318 million) via a combination of bonds and share sales due to weak capital markets, it said on Thursday. The bank had expected market conditions to improve when it announced plans to seek approval for […]
