Dollar plunges after Fed chair’s remarks on rates
US Federal Reserve chief Jerome Powell yesterday declared ‘the time has come’ to cut interest rates adding to speculation they
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Money
Bitcoin soars as Powell signals Fed set to cut rates
Fed Chairman Jerome Powell’s speech at Jackson Hole on Friday reinforced the expectations of an interest rate cut in September,
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[BREAKING] Moody’s withdraws ratings of Nigerian lender Union Bank
Moody’s Ratings announced on Friday that it has withdrawn the ratings of Union Bank of Nigeria Plc due to insufficient
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Bitcoin surges as Fed rate cut expected in weeks
Blue-chip cryptocurrencies Bitcoin and Ethereum surged Thursday as Federal Reserve minutes suggested that U.S. interest rate cuts may commence within
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Africa’s richest man Dangote loses $1.1bn in one month
Aliko Dangote, the richest man in Africa, has lost 7.59 percent of his net worth in the past month, according
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Otedola backs windfall tax, says banks maintain private jets with $50m yearly
Femi Otedola, a billionaire businessman, has said Nigerian banks are spending an estimated $50 million on the maintenance of private
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FBN Holdings suffers N165bn forex loss in six months
FBN Holdings Plc, the parent company of First Bank of Nigeria, posted a foreign exchange loss of N165.05 billion in
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Naira finishes lower despite boost in dollar supply
The naira closed lower against the dollar this week despite an increase in foreign exchange supply at the official market,
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FCMB posts N35bn forex gains in six months
FCMB Group, the parent company of First City Monument Bank Limited, made N35.19 billion in foreign exchange gains in the
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Nigeria’s windfall tax on banks’ forex gains is credit negative: Moody’s
The proposed windfall tax on Nigerian banks by the government will significantly reduce the profits available to the lenders for
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