Nigeria’s Osun State has begun offering the country’s first Islamic bond, taking a major step towards developing an Islamic finance industry in Africa’s most populous nation, bankers said on Thursday. The issue makes Nigeria the first big economy in sub-Saharan Africa to market a sukuk, although Gambia has been selling […]
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JPMorgan makes deals to pay $920 million for Whale probes
JPMorgan Chase & Co the biggest U.S. bank, will pay approximately $920 million in penalties to regulators in two countries to settle some of its potential liabilities from its $6.2 billion London Whale derivatives loss last year, according to terms made public on Thursday. The penalties include $300 million to […]
2014: FG Projects N4.5tn Budget, Sets Oil Benchmark at $74/bl
The federal government is set to propose a budget of N4.495 trillion for the fiscal year 2014 that will be predicated on an oil revenue benchmark of $74 per barrel. While the proposed budget projection translates to a N492 billion reduction from the N4.987 trillion appropriated by the National Assembly […]
