Nigeria’s central bank has issued the country’s first merchant banking licences in more than a decade to South Africa’s FirstRand and local firm FSDH, it said on Friday. They are the first since the regulatory distinction between merchant and commercial banking was axed twelve years ago. Following many Western countries, […]
Tag: Nigeria’s Central Bank
Nigerian central bank bars loans to big debtors post-crisis
Nigeria’s central bank has banned loans to 113 firms, including the country’s two major airlines, which have failed to repay debts after a 2009 financial crisis that nearly brought down the banking system, an internal document obtained by Reuters on Sunday said. The ban covers firms whose bad debts were […]
Nigeria naira firms as foreigners eye bonds
The Nigerian naira firmed against the U.S. dollar on the interbank market on Wednesday, supported by foreign exchange inflows from offshore investors ahead of a bond auction. The naira closed at 158.20 to the dollar, higher than the 158.55 naira it closed on Tuesday. The central bank sold $200 million […]
