Six of the 23 Deposit Money Banks (DMBs) dominate the banking industry in terms of deposits and asset concentration, the Central Bank of Nigeria (CBN) has said. According to a report by the CBN, the sector is dominated by a few banks as the average market share of assets and […]
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Ecobank Supports CBN Cashlite Initiative with Promo
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-Ecobank Nigeria is supporting the cashlite initiative of the Central Bank of Nigeria (CBN) with card 4 prizes promo. The Bank in a Statement made available to InvestAdvocate in Lagos Nigeria said the promo is part of efforts in supporting the use of alternative payment […]
Nigeria Central Bank to Shift Reserves Into Yuan From Dollars
Nigeria’s central bank plans to shift some of its reserves into yuan from dollars as the Chinese currency takes a greater role in global trade, deputy central bank Governor Kingsley Moghalu said. The bank will increase the yuan’s share of reserves to as much as 7 percent from 2 percent, […]
