August 29, 2016/Reuters Nigeria’s currency market registered $327 million worth of trades on Monday, about six times more than its usual volume, the market regulator told Reuters. That included a single $270 million transaction at 345 naira per dollar, by foreign investors buying local currency bonds, Bola Onadele, the managing […]
Money Market
Heritage Bank Names Adewunmi Ogunsanya Non-Executive Director
August 29, 2016/Heritage Bank Ltd Heritage Bank Plc, one of the fastest growing financial institution in Nigeria, has announced the appointment of Mr. Adewunmi Ogunsanya as a Non Executive Director. This move is consistent with Heritage Bank’s corporate governance, efficiency, and sustainability outlook, enabling the bank to take advantage of […]
CBN Says Banks Violating International Money Transfer Laws as Naira Continues to Slide in Parallel Market
August 27, 2016/The Will The Central Bank of Nigeria (CBN) says commercial banks are circumventing its international money transfer rules by criminally opening multiple company and personal accounts where they receive inflows for onward disbursements to recipients in Nigeria. In a circular to banks titled: Illicit International Money Remittances Through […]
