The Central Bank of Nigeria (CBN) yesterday released guidelines for the operations of the foreign exchange market. The apex bank also created a designated account for authorised dealers. The account named, Authorised Dealers Retail Dutch Auction System (RDAS) Account was opened at the CBN with account number 1000011194. A statement […]
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FBN, GTBank, Zenith Lead in Global Ranking
First Bank of Nigeria Limited for the third consecutive year has been adjudged Nigeria’s number one banking brand in the 2014 ‘Top 500 Banking Brands’ global ranking. The Nigerian bank and was joined in the ranking in second and third by Guaranty Trust Bank (GTBank) and Zenith Bank respectively. The […]
Weak regulation hinders Africa’s banks, says Fitch
The global rating agency Fitch has rated banking regulation in Nigeria, South Africa, Morocco and Kenya among the strongest in Africa. Outside these countries, most banks report according to local accounting standards, and transparency is limited, reports BusinessDay South Africa. The ratings of many African banks incorporate operating risks from […]