February 15, 2016/Reuters Nigeria’s naira weakened to a record 345 to the dollar on the parallel market on Monday, increasing pressure on the government to devalue the official exchange rate to narrow the gap and spare Nigerians from huge bills for imported goods. The local currency eased 1.47 percent from […]
Tag: Reuters
Nigeria’s ‘bad bank’ AMCON seeks to sell Keystone Bank
February 15, 2016/Reuters Nigeria’s state-backed “bad bank” AMCON said on Monday it was seeking prospective investors to buy Keystone Bank, the last of the nationalised banks yet to be sold. The Asset Management Corporation of Nigeria (AMCON) said in a public notice it had decided to divest its 100 percent […]
Nigeria in talks with oil majors to repay debt, invest in refineries
February 14, 2016/Reuters Nigeria is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil firm has accumulated over years of mismanagement, the firm’s head told Reuters. Emmanuel Ibe Kachikwu, who is also the […]
