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United States

Oludare Mayowa

Nigerian interbank rate falls on matured T-bills, refunds on dollars

Aug 18 2017

LAGOS, Aug 18 Nigeria's interbank overnight lending rate fell sharply on Friday to an average of 12 percent from around 60 percent a week ago after the central bank repaid matured treasury bills and a refund of excess cash deposited by banks to buy dollars.

Nigerian stocks down to 16-day low on profit taking

Aug 16 2017

LAGOS, Aug 16 Nigerian stocks declined for a third consecutive day and reached a 16-day low as more investors cashed in profits after recent gains, traders said on Wednesday.

Zenith Bank makes provision on 30 percent of its 9mobile loan: CEO

Aug 14 2017

LAGOS Nigeria's Zenith Bank has made a provision on 30 percent of its loan to 9mobile, the country's fourth largest telecoms group formerly known as Etisalat Nigeria, the bank's chief executive said on Monday.

Nigeria to seek out-of-court settlement over state funds

Aug 08 2017

LAGOS Nigeria said on Tuesday it planned to withdraw its case against seven local banks over what it says is $793 million due to the state, and that it was seeking an out-of-court settlement instead.

Cheaper Nigerian assets back in foreign investors' sights

Aug 04 2017

LAGOS, Aug 4 Largely shunned over the past three years, Nigerian assets are back on foreign investors' radar thanks to a drop in valuations and improved visibility on exchange rates, data on market transactions suggests.

Unilever to take part in Nigerian unit cash call

Aug 02 2017

LAGOS Anglo-Dutch consumer goods group Unilever will take part in a 58.85 billion naira (122.33 million pounds) share sale by its Nigerian unit and will not convert a loan made to the subsidiary into equity, Unilever Nigeria said on Wednesday.

Nigeria's FX window sees $3.8 bln traded since April 24 - traders

Jul 10 2017

LAGOS, July 10 Nigeria's currency window for investors and exporters has traded around $3.83 billion since it was established on April 24, traders said on Monday, with the naira trading more strongly than on the black market.

Nigeria's central bank plans $100 mln sales at special auction

Jul 03 2017

LAGOS, July 3 Nigeria's central bank said it will sell $100 million at a special foreign currency auction on Monday, the latest in a series of interventions that it said had yielded positive results in the forex market.

Nigerian interbank rate eases on cash refund on bills and forex

Jun 23 2017

LAGOS, June 23 Nigeria's interbank rate eased to around eight percent on Friday from 15 percent last week after the central bank repaid 152.6 billion naira ($500.57 million) in matured debt and paid refunds to banks for their forex cash provisions.

Nigeria's Forte Oil eyes 20 bln naira share sale

Jun 19 2017

LAGOS, June 19 Nigeria's Forte Oil plans a 20 billion naira ($66 mln) share sale to institutional and high net worth investors and has applied for regulatory approval, it said on Monday.

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