MTN Nigeria and three other GSM networks have been fined a total of N1.17 billion in penalty for providing poor quality telephony service to mobile phone users in Nigeria, in a no-more-business-as usual hammer wielded by the nation’s telecoms regulator. The Nigerian Communications Commission (NCC), the nation’s telecoms regulator, has […]

JPMorgan Chase faced intense criticism Friday for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk. More than three years after the financial industry almost collapsed, the colossal misfire was cited as proof […]

Nigeria’s interbank lending rates climbed this week to an average of 14.16 percent, from 13.91 percent last week, as the central bank aggressively mopped up excess liquidity by selling treasury bills.  Traders said apart from a primary auction of treasury bills, where 147 billion ($932.59 million) worth ranging from 3-month […]