The Nigeria Deposit Insurance Corporation has expressed its readiness to grant financial assistance to deserving Primary Mortgage Institutions and microfinance banks as part of its efforts at repositioning them for better performance in the financial services system. A statement by the corporation on Wednesday quoted the Managing Director, NDIC, Mr. […]
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Naira Rises to 4-Week High on Central Bank, Oil-Industry Dollars
Nigeria’s naira rose to the highest in almost four weeks as the central bank sold the U.S. currency at an auction and oil companies were also said to sell dollars. The currency of Africa’s biggest oil producer rose 0.3 percent to 158.10 per dollar by 4:10 p.m. in Lagos, the […]
IMF Proposes €1 Billion Lifeline for Cyprus
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE) – The International Monetary Fund (IMF) Wednesday said it has proposed a three-year SDR891 million (about €1 billion; or US$1.34 billion) loan for Cyprus; representing about 563 percent (563%) quota under the Extended Fund Facility (EFF) expected to be approved in May 2013. Christine […]
