August 9, 2016/Reuters By Chijioke Ohuocha Nigeria’s central bank this year is to allow banks to write off bad loans for which they have already made provisions to help them to clean up their balance sheets. Pressure has been building on the country’s banks, whose loan books have been hit […]
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Nigeria’s naira hits all-time low of 350 per dollar on interbank market
August 9, 2016/Reuters Nigerian naira traded at an all-time low of 350 to the dollar on Tuesday in a single interbank market trade of $100,000, Thomson Reuters data showed. The currency was offered at 313 naira to the dollar and a total of $3.11 million had been traded by 1230 […]
CBN Stops Access to Discount Window on Settlement Date for Government Securities Auctions
August 9, 2016/CBN in view of the observed abuse of access to the Central Bank of Nigeria (CBN) Standing Lending Facility by authorised dealers, it has become imperative that some measures be taken to redress the trend and re-define the mode of operation by authorised dealers at the window. Thus, […]
