Nigeria’s naira retreated for a third day, set for its lowest closing level in more than a year, in the absence of central bank intervention and foreign-exchange sales from oil companies. The currency of Africa’s biggest crude producer declined 0.7 percent to 163.35 per dollar as of 2:24 p.m. in […]
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Market reverses two-day loss, gains 0.3%
Trading activities on the Nigerian Stock Exchange witnessed a marginal reversal on Thursday, as transactions closed positive to end a two-day downward trend. The market capitalisation of the listed equities rose by N32bn or 0.3 per cent from N11.513tn on Wednesday to N11.545tn. Similarly, the NSE’s All-Share Index increased by […]
IMF Advise Benin On Troubled Banks, Grants $16.1 million Facility
By Peter OBIORA InvestAdvocate Lagos (INVESTADVOCATE)-The International Monetary Fund (IMF) Wednesday advised the Republic of Benin, West Africa to speedily resolve the issue of its troubled banks as it granted the country $16.1 million extended credit facility (ECF). This is coming on the heels of a statement by Naoyuki Shinohara, […]
