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All posts tagged "CBN"

  • Election: Dollar Demand Climbs by 43% over Violence

    Demand for the US dollar at the Central Bank of Nigeria (CBN) regulated Wholesale Dutch Auction System (WDAS) climbed by 43 per cent compared with the total amount offered by the regulator Monday. This was as a...

    • Posted April 19, 2011
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  • Central bank goes tough on microfinance banks

    In a bid to check abuse and to tighten the regulatory environment, the Central Bank of Nigeria (CBN) has insisted that microfinance banks in the country must comply with the new reporting format.   It said in...

    • Posted April 19, 2011
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  • CBN offers $300m at forex auction

    The Central Bank of Nigeria on Wednesday intervened in the foreign exchange market as it offered $300m for sale at the foreign exchange auction. The Central Bank of Nigeria in a statement on its website, said, “Further...

    • Posted April 14, 2011
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  • Sterling Bank, First Rand Merger Talks Gain Ground

    The talks between Sterling Bank Plc and FirstRand, the second biggest bank in South Africa about the latter making a strategic investment in the former has reached an advanced stage, Reuters said Wednesday. Reuters quoted Sterling Bank’s...

    • Posted April 14, 2011
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  • WDAS: Naira Depreciates as Dealers Raise Dollar Demand

    The Naira, Nigeria’s local currency was slightly hurt against the United States dollar at the Central Bank of Nigeria’s (CBN) Wholesale Dutch Auction System (WDAS) Wednesday following stronger demand for the greenback put up by dealers. THISDAY...

    • Posted April 14, 2011
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  • South Africa to deal with high oil prices

    Higher oil prices are the main risk to South Africa’s inflation outlook but the Central Bank will deal with this threat adequately, a senior Reserve Bank official said on Wednesday. “We are not pleased with the current...

    • Posted April 14, 2011
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  • Naira sheds further weight

    As the Central Bank of Nigeria (CBN) struggles to defend the naira, the currency is gradually shedding weight at the currency market. The naira, which opened 2011 at N149.50 to the dollar, closed yesterday at the bi-weekly...

    • Posted April 14, 2011
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  • CBN sells $300m at WDAS

    The volume of forex sold at the bi-weekly Wholesale Dutch Auction System (WDAS) inched up by $50million to $400million at yesterday’s trading. The Central Bank of Nigeria (CBN) controlled WDAS had on Monday sold $250 million worth...

    • Posted April 14, 2011
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  • NSE May Face More Pressure over Liquidity, Election

    The presidential election re-scheduled for Saturday,  April 16 and the associated uncertainty after the elections is expected to further exert downward pressure on the Nigerian capital market, experts have warned. In a report made available to THISDAY, analysts...

    • Posted April 13, 2011
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  • Rescuing banks from web of bad debts

    THE concept of banking, essentially, though nebulous, revolves around management of money, credit and investments. It is one of the oldest professions in the world and credit is at the heart of the business. The key functions...

    • Posted April 11, 2011
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