By InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Tuesday directed banks to allocate 60 percent of their foreign exchange purchases to manufacturers, in order to help them pay for imports and boost the economy. This is contained in a circular with reference number TED/FEM/FPC /GEN/01/007 dated August 23, […]
Updates
CBN Suspends FirstBank, FCMB, Sterling, Six Others from FX Market
Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) has suspended First Bank of Nigeria Limited, First City Monument Bank, Sterling Bank Plc and six (6) other banks from the interbank currency market for failing to remit money owed to the government, according to a Reuters report quoting banking sources on […]
Access Bank Reiterating Outperform Rating After Strong Q2’16 Results
Culled—Proshare August 23, 2016/FBNQuest Research Additional upside post earnings upgrade Following Access Bank’s Q2 2016 results, we have increased our 2016-17E PBT estimates by an average of 22%. Our new 2016E PBT forecast of N96bn implies a y/y growth of 28%. Despite continued strong fx swap income, we still expect […]
