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 […]
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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 […]
Nigerian interbank rate spikes ahead of cbank action
Nigerian interbank lending rate spiked 7.75 percentage points on Wednesday to 18 percent for overnight placement ahead of the central bank’s withdrawal of around 750 billion naira ($5 bln) to enforce a new cash reserves rules on public sector deposits. Nigeria’s central bank two weeks ago raised cash reserve requirements […]
