Apparently miffed by the figures reeled out by JP Morgan, a U.S-based bank with global reputation, as representing Nigeria’s total foreign reserves, the Central Bank of Nigeria (CBN) has flawed the recent estimate of the US bank on Nigeria’s foreign exchange reserves, describing it as a misrepresentation of the actual value of the reserves. The […]
Despite efforts by the monetary authorities to ensure improved value for the Naira at the foreign exchange (FX) markets over the past weeks, the local currency fell as low as N925 against the dollar on Wednesday morning at the peer-to-peer (P2P) market, before moderating to the N905/$ levels at about the noon hours. The depreciation […]
The African Development Bank (AfDB), in furtherance of its sustained efforts to raise new funds to cope with the socio-economic problems in the African continent, has launched a new €1.25 billion seven-year Global Benchmark transaction, in a Social Bond format, due Sept. 14, 2029. The latest EUR transaction marks the development finance institution’s second EUR […]
The United States’ (U.S’) Securities and Exchange Commission at the weekend announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. The firm admitted the facts set forth in the SEC’s order […]
Barely a week after the Central Bank of Nigeria (CBN) projected that Nigeria’s economy would record between 2.5% and 3% GDP growth by year end, JP Morgan, a global banking giant, has predicted that the economy may not record more than half of the apex bank’s projection, estimating that it may record a mere 1.5% […]