By InvestAdvocate Lagos (INVESTADVOCATE)-The naira on Wednesday weakened to an all-time low falling by 5.8 percent against the greenback to trade at N378.00 in the parallel market, while the pounds sterling and euro traded at N492.00 and N413.00 respectively. Cordros daily market update reports that the Nigeria’s local currency traded […]
Money Market
CBN Raises MPR to 14%
By Peter OBIORA InvestAdvocate New York (INVESTADVOCATE)- The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee (MPC) on Tuesday raised Monetary Policy Rate (MPR) 200 basis points from 12 percent to 14 percent, Cash Reserve Ratio (CRR) was retained at 22.5 percent and Liquidity ratio at 30 percent, while the […]
Afreximbank Supports Heritage Bank Growth With $150million
African Export Import Bank (Afreximbank) has provided a $150 million funding support for Heritage Bank Limited. In a statement announcing this development yesterday, Divisional Head, Corporate Communications, Olusola Longe-Okenimkpe said, “HBCL Investment Services Limited (HISL) a major shareholder of Heritage Bank Limited has executed the term sheet for the issuance […]
