Nigeria’s central bank intervened to stabilise the naira on Thursday, deputy governor Sarah Alade told Reuters, after the currency fell to an all-time intraday low of 167 to the dollar. She added that, with $42 billion of reserves, she was confident the bank would be able to maintain the currency […]
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CBN may withdraw all govt funds from banks
In a bid to reduce pressure on the naira and maintain macro-economic stability, the Central Bank of Nigeria’s Monetary Policy Committee may increase the Cash Reserve Requirement of public sector funds in the vaults of banks to 100 per cent from the current75 per cent. The implication of this is […]
ETI Announces Resignation of Two Directors
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Pan-Africa Bank Ecobank Transnational Incorporated (ETI) Wednesday announced the resignation of two (2) non- executive directors of the bank, Isyaku Umar and Babatunde Ademola M. Ajibade. The bank in a notice to the Nigerian stock exchange (NSE) and made available to InvestAdvocate in Lagos Nigeria […]
