Why USD Should Stay Weaker For The Next Few Days

  From time to time we get opinions from the Trump’s administration that the strong USD is becoming a huge problem for the American companies and economy as overall. With those comments, some experts started to doubt the current interest rises path. This eases the buying pressure on the USD and creates a mid-term correction…

Naira Rises By 3.7% On Increased Dollar Inflow

Naira notes

The value of the naira firmed at the parallel market yesterday after the Central bank of Nigeria pumped more dollars to the economy through the interbank and Bureau de Change ends of the foreign exchange market. The naira’s value rose by over 3.75 per cent to N385 per dollar yesterday, up from $400. Increased dollar…

GTBank Leads 10 Other Banks In Lowest Cost-To-Income Ratio

Despite inflationary pressure on cost of running banking operations, Guaranty Trust Bank Plc (GTBank) outperformed 10 other commercial banks in cost-to-income ratio for financial year ended 2016. Cost-income ratio is a ratio between the costs involved in running a business and the income the business produce. Cost-to-income ratio is important for determining the profitability of…

CBN Suspends Interchange Charges On Electronic Payment

The Central Bank of Nigeria (CBN) has suspended the implementation of inter change regime on electronic payment that involves merchant service until further notice. Director, banking and payments system department, CBN Mr Dipo Fatokun, in a signed circular to merchant acquirers, card issuers, card schemes, among other stakeholders explained that the apex banking regulating had…