South Africa’s central bank raised its key interest rate to 5.5 percent on Wednesday as concerns grew over its weakening currency amid an emerging market rout. The bank hiked its key interest rate – the rate at which it lends to commercial banks – 50 basis points (bps) to 5.5 […]
Capital Market
Private Placement: Barcelos Cancels Listing on Nigerian Bourse
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-Portuguese branded eatery Food Emporium International Limited (Barcelos) will no longer list its shares on the floor of the Nigerian Stock Exchange (NSE) as promised in its 2008 private placement memorandum. Wale Agbeyangi, Managing Director (MD) Cordros Capital Limited, co-financial advisers to the company’s placement […]
CBN to withdraw N1tn from banks Feb 4
Following the increase of the Cash Reserve Requirement on public sector deposits from 50 per cent to 75 per cent last week by the Monetary Policy Committee, the Central Bank of Nigeria will on February 4 withdraw an estimated sum of N1tn from the Deposit Money Banks when the policy […]
