Excessive litigation and the lack of understanding of the legal role of the Nigeria Deposit Insurance Corporation as liquidator have been identified as the major challenges hampering the effective settlement of depositors. A statement by the corporation on Friday quoted the Managing Director/Chief Executive, NDIC, Alhaji Umaru Ibrahim, as saying […]
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CBN sells N157bn T-bills at lower yields
The Central Bank of Nigeria sold N157.05bn ($994.62m) worth of treasury bills on Wednesday at yields lower than its previous auction on the back of strong demand from offshore investors and local fund managers. The CBN sold N22.05bn in 91-day notes at a return of 10.30 per cent, marginally lower […]
G7 to press on with bank reforms, Japan escapes censure
Group of Seven finance officials agreed on Saturday to redouble efforts to deal with failing banks and gave a green light to Japan’s drive to galvanize its economy. British finance minister George Osborne said the finance ministers and central bankers meeting 40 miles outside London focused on unfinished bank reforms, […]
