The increasing pressure on the naira has forced the Central Bank of Nigeria to defend the currency with $1.45bn within the first two weeks of this year, latest statistics by the bank has shown. According to the data, the central bank offered $1.45bn in four regulated actions through the Retail […]
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Nigeria interbank rates ease on matured debt cash supply
Nigerian interbank lending rates eased to an average of 10.3 percent on Friday, compared with 10.5 percent the previous week, pressured by a surge in cash supply from matured debt notes. The central bank repaid about 419 billion naira ($2.62 billion) in special open market operation (OMO) debt notes on […]
Electronic payments: MasterCard, Ecobank seal multi-country licensing agreement
Ecobank Transnational Incorporated and MasterCard have announced a multi-country licensing agreement which will provide access to MasterCard’s payment solutions for the bank’s customers in 23 African countries. The agreement is the culmination of a Memorandum of Understanding originally signed in November 2011, according to a statement by the bank. The […]
