Nigeria banks raise dollar-spending limits on improving forex liquidity

In an apparent show of a return to foreign exchange liquidity, most Nigerian lenders have increased spending limits on their payment cards abroad. E-mail statements and messages from the banks to their customers relish their current liquidity profile, asking customers to take up the opportunity and enroll in their card programmes. The moves by the […]

Banks begin London exodus as hopes of transitional deal fade

While that is the premise of Snap Inc’s popular messaging platform, investors also saw any gains from its red-hot IPO disappear when shares plunged far below their initial sale price on Tuesday. Morgan Stanley, a lead underwriter on the company’s initial public offering, slapped a price target of $16 on the stock – a buck […]

Bank of Japan buying fewer bonds without spooking investors

The European Central Bank is now wrestling with a problem facing monetary policy makers around the western world—dialing back stimulus without upending financial markets. But one central bank has been quietly balancing this act since late last year, buying fewer bonds without spooking investors: the Bank of Japan, reports Wall Street Journal (WSJ) On Thursday, […]

Barclays Africa to fight $86 Million payout over Bankorp

Barclays Africa Group Ltd., the South African bank formerly known as Absa, will go to the country’s high court to challenge a decision that it should pay the government 1.125 billion rand ($86 million) over the apartheid-era acquisition of Bankorp Ltd. “This is due to numerous misrepresentations and factual inaccuracies which form the basis of […]

Fraudsters target N3trn in non-BVN linked accounts

Fraudsters are targeting over three N3 trillion in accounts yet to be linked to the central bank of Nigeria introduced biometric verification number (BVN), according to tech and financial analysts.   The analysts, who spoke at a CEO roundtable facilitated by Ericsson and International Data Corporation, said that privileged information available to them showed that […]