9/6/2016/Reuters Nigeria’s naira tumbled against the dollar in the non-deliverable forward markets on Thursday, as uncertainty continued over a potential liberalisation of the currency. Three-month non-deliverable forwards showed the naira trading at around 278 per dollar, weakening 2.2 percent on the day, and the weakest since June 3. One-month non-deliverable […]
Updates
Dangote acquires shares in Afreximbank
June 10, 2016/Punch Bayo Akinloye The Dangote Group has become the latest corporate organisation to join the African Export-Import Bank as a class B shareholder. The Group, according to information released by Afreximbank and made available to our correspondent, completed the process of acquiring equity in the bank on May […]
AfDB approves USD 150-million line of credit to UBA
8/6/2016/AfDB The Board of Directors of the African Development Bank Group (AfDB) through its private sector window has approved a USD 150-million line of credit (LOC) to United Bank for Africa Plc (“UBA”) in Nigeria. UBA, one of the largest commercial banks in Nigeria, was incorporated in 1961 and operates […]
