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.
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.
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.
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.
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.
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.
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.
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.
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
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