Indications have emerged that only 25 Primary Mortgage Institutions out of over 70 firms may survive the April recapitalisation deadline set by the Central Bank of Nigeria for the mortgage sector. The President, Mortgage Banking Association, Mr. Abimbola Olayinka, said at a press conference in Lagos on Monday that merger […]
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UK prepares new law to break up errant banks
British banks that fail to shield their day-to-day banking from risky investment activities could be broken up, Chancellor George Osborne said on Monday, bowing to political pressure to come down harder on reckless lenders. European countries are retooling their financial systems to prevent a repeat of the 2008 financial crash, […]
Investment Account: IMF Introduce Rules to Establish 3 Sub-accounts
By Our Correspondent Lagos (INVESTADVOCATE)-The International Monetary Fund (IMF) Monday announced new Rules and Regulations establishing three (3) sub-accounts with the Investment Account. This is contained in a Statement by the IMF and made available to www.investadvocateng.com in Lagos Nigeria. According to the IMF, the three (3) sub-accounts are the […]
