IBFC Alliance Consulting, a research and business advisory firm, has identified loan growth, fees and commissions as some of the drivers of revenue for banks in the country. The company, in its latest ‘Strategic Outlook of the Nigerian Banking Industry’, emphasised the need for banks to develop new sources of […]

Chinese central bank Governor Zhou Xiaochuan, an advocate of pro-market financial reforms, may lose his job in a reshuffling that follows internal battles over overhauling the economy, the Wall Street Journal reported on Wednesday. President Xi Jinping is considering replacing Zhou, the paper reported, quoting officials with knowledge of the […]

Nigeria’s naira hit a two-week closing high of 162.65 against the dollar on Wednesday, after the central bank sold greenbacks directly to lenders to prop up the local currency, dealers said. The local unit closed 0.76 percent firmer on the day, a level last seen on Sept. 9, compared with […]