CBN Dollar Sales Fail To Stop Naira Weakness As  Its Slips To Weakest Level Since March

LAGOS JULY 15TH (NEWSRNAGERS)-Nigeria’s naira extended its losing streak to a fourth day, slipping to the weakest level since March despite central bank intervention amid seasonal demand for dollars and continuing investor skepticism. The naira stood at 1,563.8 per dollar at its official close on Friday, according to FMDQ. That’s the weakest since March 18,…

Read More

Why CBN Revokes Heritage Bank’s Licence?

LAGOS JUNE 3RD (NEWSRANGERS)-In a move aimed at safeguarding the integrity of Nigeria’s financial system, the Central Bank of Nigeria (CBN) has taken the decisive step of revoking the banking license of Heritage Bank PLC. The action, effective immediately, comes in response to the bank’s persistent failure to improve its financial performance, posing a threat…

Read More

A New Dawn As CREDICORP Engages Financial Institutions On Consumer Credit Initiative

  LAGOS MAY 8TH (NEWSRANGERS)-There is enormous hope on the horizon for businesses in Nigeria as the Consumer Credit sector comes alive with the commencement of engagements with Nigeria’s lending ecosystem. No fewer than 19 commercial banks were at the first session convened recently by Nigeria’s apex bank, the Central Bank of Nigeria (CBN) during…

Read More