Mon Aug 1, 2016/Reuters By Steve Slater Barclays is expected to sell more of its stake in its African subsidiary in the coming weeks to take its holding in the business to less than 50% and strengthen the UK parent bank’s capital. A lock-up period following a previous share sale […]
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Nigeria tells banks to make extra provisions on dollar loans immediately
August 01, 2016/Reuters By Chijioke Ohuocha Nigeria’s central bank has told commercial lenders to set aside extra provisions against their dollar loans immediately in the wake of the sharp fall in the naira. The local currency has dropped 40 percent since June, when Nigeria ditched its 16-month-old peg of 197 […]
Nigeria’s Wema Bank plans 20 bln naira bond issue this month
August 1, 2016/Reuters By Chijioke Ohuocha Nigeria’s Wema Bank, which aims to expand its branch network this year, plans to issue 20 billion naira ($63 million) in bonds this month, its chief finance officer said on Monday. The bank is issuing local currency bonds after scrapping plans last year to […]
