Nigeria’s naira fell to its lowest level in two months against the U.S. dollar on Wednesday, as the sale of greenbacks by state-owned energy company NNPC failed to meet market expectations. Traders said NNPC sold around $300 million to some lenders, but this was not enough to give support to […]
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Fidelity, Skye, Heritage jostle to buy Enterprise Bank
Fidelity Bank Plc, Skye Bank Plc and Heritage Bank are among the five banks shortlisted to buy Enterprise Bank by the Asset Management Corporation, a source close to the deal disclosed to our correspondent on Wednesday. AMCON sources and top bank executives told our correspondent on Tuesday that any of […]
AMCON bonds raise CBN’s liabilities to N6tn – Report
The Asset Management Corporation of Nigeria’s bonds acquired by the Central Bank of Nigeria has raised the central bank’s liabilities from N2.1tn in 2009 to N6.1tn in 2013, a new report released by Afrinvest has revealed. The 2014 Banking Sector report, which was released in Lagos Tuesday, disclosed that the […]
