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Nigeria s Central Bank Sets Minimum Capital Base for Banks
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Nigeria Tells Banks to Raise Minimum Capital to $359 Million
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Nigeria Tells Banks to Raise Minimum Capital to $359 Million
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The auction suggests the central bank is seeking to normalise interest rates in Africa’s most populous nation and lure foreign investors in a bid to stabilise the naira.
(Bloomberg) Nigeria’s central bank hiked the interest rates on short term debt obligations on Wednesday in a bid to mop up naira liquidity and attract foreign investor inflows.Most Read from BloombergHaley Loses Nevada Primary to ‘None of These Candidates’ OptionTesla Asks Which Jobs Are Critical, Stoking Layoff FearsChina Replaces Top Markets Regulator as Xi Tries to End RoutUS Commercial Real Estate Contagion Is Now Moving to EuropeCitadel Among Hedge Funds That Got Morgan Stanley’s Block-T