August 25, 2016/Reuters Nigeria’s naira was quoted at an all-time low of 409 to the dollar on the black market on Thursday, compared with 402 the previous day, after the suspension of some banks from forex trading made dollars even harder to obtain. The central bank suspended nine commercial banks […]
Money Market
Banks’ bad loans rise to N649.63b
25/8/2016/The Nation are carrying a heavy load of Non-Performing Loans (NPLs), which rose 78 per cent year-on-year to N649.63 billion last May. The “worrisome” trend should be tackled, Central Bank of Nigeria (CBN) Governor Godwin Emefiele said yesterday. He was speaking at the third National Credit Reporting Conference organised by […]
CBN Re-Admits UBA into FOREX Market
24/8/2016/CBN Further to the directive of the Central Bank of Nigeria (CBN) to all Deposit Money Banks (DMBs) to return all outstanding unremitted NNPC/NLNG foreign currency, this is to confirm that the United Bank for Africa (UBA) Plc has remitted all outstanding NNPC/NLNG deposits in its possession to NNPC’s Treasury […]
