By Stanley Oronsaye September 30, 2010   Nigeria’s foreign reserves dropped to $35.66 billion as at Monday, the lowest level in over four years.The reserves, which peaked at $62.24 billion in mid-May 2008, have fluctuated ever since due to huge withdrawals by government. The last time the reserves stood […]

  September 29, 2010 03:12PM   Some customers of micro-finance banks, on Tuesday, in Abuja, expressed concern at the closure of the banks, urging the authorities to urgently refund their deposits.The Central Bank of Nigeria (CBN) had, on Friday, announced the closure of 224 micro-finance banks across the country. The […]

  September 30, 2010 12:58AM   First City Monument Bank said on Wednesday it is on track to securing a $70 million loan package from the International Finance Corporation (IFC), the World Bank’s private-sector arm.   Chief Executive Ladi Balogun told an investor conference the loans — $50 million of […]