August 31, 2016/Reuters Nigeria’s central bank ended the suspension of eight lenders banned from the interbank currency market for failing to remit money owed to the government, it said on Wednesday. The central bank tightened restrictions on the flow of dollars to domestic lenders in March. That forced the banks […]
Updates
Nigeria’s naira hits new record low of 420 per dollar on black market
August 31, 2016/Reuters Nigeria’s central bank sold dollar to some commercial lenders on Wednesday to support the local currency, which hit a fresh all-time low of 420 to the dollar on the unofficial market, the same day Africa’s biggest economy officially slid into recession. The currency traded at 418 to […]
Guaranty Trust Bank Rating Moved to Neutral from Outperform
Culled—-Proshare August 31, 2016/FBNQuest Research Resilience reflected in valuation at current levels GT Bank shares have performed very strongly year-to-date. They are up 44%, compared with a loss of –4% for the ASI. The justification for this outperformance can be traced to the ability of the bank to weather the […]
