August 01, 2016/Reuters By Chijioke Ohuocha Nigeria’s central bank has told commercial lenders to set aside extra provisions against their dollar loans immediately in the wake of the sharp fall in the naira. The local currency has dropped 40 percent since June, when Nigeria ditched its 16-month-old peg of 197 […]
Money Market
Mergers, acquisitions likely in banking sector – Rewane, Utomi, others
August 1, 2016/Punch Oyetunji Abioye with agency report A natural consolidation in form of mergers and acquisitions is likely in the Nigerian banking sector, economic and financial experts have predicted. They said with the myriads of challenges facing the nation’s economy, some banks were likely to experience some challenges that […]
Nigeria’s Skye says received 100 billion naira from central bank
July 29, 2016/Reuters Nigeria’s Skye Bank has received more than 100 billion naira in liquidity from the central bank since July 4 to shore up its operations, its new managing director said on Friday. Tokunmbo Abiru told reporters that central bank staff had been working at the bank for two […]
