Finance

Road to Bitcoin ETFs proves full of SEC obstacles

The going is getting tough for U.S. companies hoping to win the race to bring a bitcoin exchange-traded fund to market.

Central bank to sanction banks, others for violation of payment system rules

The Central Bank of Nigeria (CBN) yesterday threatened to impose N10, 000 daily fine on banks and other electronic payment service providers that fail to renew its operating licence within the regulatory deadline.

DMO to roll over N1 trillion treasury bills in Q1 2018

The Debt Management Office (DMO) will roll over treasury bills worth N1 trillion in the first quarter of 2018, data made available by the Central Bank of Nigeria has shown.

Afreximbank taps Islamic finance to support Africa trade

The African Export-Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support small- and medium-sized businesses in the region, as African markets gradually open to Islamic finance.

External reserves hit $40.4 billion as central bank injects $210 million into interbank market

As projected by the Governor of the Central Bank of Nigeria, Godwin Emefiele, at the Annual Bankers’ Dinner of the Chartered Institute of Bankers in Lagos last November, the nation’s External Reserves have hit a new level of $40.4 billion.

South Korea banks open cryptocurrency accounts

Six banks in South Korea are said to have begun offering cryptocurrency services to clients as the virtual currency gains more global recognition.

China’s foreign exchange reserves hit $3.14 trillion

China’s foreign exchange reserves rose to $3.14 trillion in December, their highest in more than a year, blowing past economists’ estimates, central bank data showed on Sunday.

Naira to hit N360 per dollar at investors’ forex market

The naira is expected to firm slightly to 360 per dollar at the Central Bank of Nigeria’s Investors and Exporters Foreign Exchange window next week as trading picks up after the Christmas and New Year holidays.

Federal govt green bond oversubscribed by 0.94 percent – DMO

The Debt Management Office (DMO) says the Sovereign Green Bond recorded oversubscription by 0.94 percent.

Debut N10.69 billion sovereign green bond oversubscribed – DMO

The Debt Management Office has announced that the debut Sovereign Green Bond offered to the general public in December, 2017 was very well received by a wide range of investors.

Fitch Rating issues warning on profitability of Nigerian banks

Fitch Rating agency yesterday warned that Nigerian banks will struggle to sustain the same level of profitability this year due to reduction in government borrowing through treasury bills (T-Bills).

Nigeria raises N162 billion at treasury bill auction

Nigeria raised 161.54 billion naira ($513.64 mln) at a treasury bill auction on Wednesday after it received subscriptions for more than twice the amount on offer, traders said on Thursday.

India, Thailand risk landing on currency manipulator watchlist

India and Thailand may have to give freer rein to the rupee and baht this year to avoid triggering US accusations that they’re manipulating their currencies to support exports.

Mauritania revamps currency in anti-inflation fight

Small lines formed at banks in Mauritania on New Year's Day as customers withdrew new banknotes and swapped cheque books after the government revamped the currency, the ouguiya, in a bid to fight inflation.

Deadline for bank accounts without BVN elapses today

The deadline for customers of Microfinance Banks (MfBs) and Other Financial Institutions (OFIs) without Bank Verification Number (BVN) linked to their accounts has elapsed today, January 1,2018.

Political spending may threaten Naira stability in 2018 – ABCON

President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, has warned that spending by politicians ahead of the 2019 General Elections may threaten the stability of the naira.

Lagos Chamber urges central bank to hasten release of N550 billion export fund

The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to hasten the release of the N550 billion Export Stimulation Fund to boost the performance of non-oil export sector.

Bitcoins, others like Ponzi scheme – India’s finance ministry

India’s finance ministry on Friday cautioned investors about the risks of trading in cryptocurrencies such as bitcoin, saying digital currency investments are like “Ponzi schemes.”

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Police arrest housewife for allegedly pouring hot water on husband

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Christine Lagarde resigns as IMF chief

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PDP: Ex-President Obasanjo’s letter vindicates our stance

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Jacob Zuma: Gupta influence fiction

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