September 27, 2016/AfDB The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 21, 2016, in Abidjan, a US $310 million trade finance loan for Ecobank Transnational Incorporated, parent company of the Ecobank Group. Through this facility the AfDB will provide critical trade finance funding to […]
Money Market
Naira Hits New Historic Low; Plunges to 450/$ as Acute Shortage Hit Hard
By InvestAdvocate Lagos (INVESTADVOCATE)- The naira on Tuesday hit a new historic low as it tumbled to 450 against the United States dollar at the parallel market on Tuesday, down from the 445 recorded on Monday, analysts at Cordros Capital said. The depreciation of the nation’s local currency continued in […]
Chronic forex shortage pushes naira to 445/dollar
27/9/2016/Punch Oyetunji Abioye The naira tumbled to 445 against the United States dollar at the parallel market on Monday, down from the 440 recorded on Sunday. The chronic dollar shortage hitting the economy took a new twist last Wednesday with the local currency dropping to 428 to the dollar after […]
