The Nigerian naira closed marginally lower on Thursday, inching down in late trade as importers bought dollars to meet year-end obligations.  The local currency closed at 163.10 to the dollar compared to 163.05 on Wednesday, traders said.  “We still have some demand from companies trying to balance their dollar accounts […]

Fixed mortgage rates rose slightly this week off their record lows. The year ends much like it began, with few people able to take advantage of the best rates in history. Freddie Mac said Thursday that the average on the 30-year home loan increased to 3.95 percent from 3.91 percent. […]

By InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s Central Bank has threatened to sanction Banks that engage in cash in transit lodgment services to Customers in Lagos Nigeria with effect from January year 2012. This was contained in a Circular titled “Modalities on implementation of cash policy for cash-less Lagos” by Mahmoud Umar, Director […]