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The bearish trend recorded last week is expected to ease
slightly, this week, giving way to a fluctuating trend, as investors take position ahead of the barrage of financial statements expected this month from banks and other companies quoted on the Nigerian Stock Exchange (NSE).

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Banks battle with money nobody wants

Banks are now battling with money deposited by customers in their vaults which they are either not ready to give out as loans or nobody is coming forward to take. This is a fall out of the over N400 billion in the system more than the banks needed to hold in cash, which has brought the need for banks to lend to each other in the interbank money market to zero level.

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Critics of the ‘Cash Sale of Dollars’ to BDCs are misinformed , Suleiman

For eight years, from November 2002 until last Saturday, Alhaji Farouk Suleiman, as President, piloted the affairs of the Association of Bureaux De Change Operators of Nigeria (ABCON), the umbrella body of bureaux de change (BDCs). In this interview with the Editor of Financial Vanguard, Babajide Komolafe he bares his mind on major developments in the sub-sector, which marked twenty years of existence in Nigeria last year. He also addressed criticism of the Cash Sale of Dollars to BDCs scheme and the categorisation of BDCs.

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THE PUTRID MESS ALSO IN CBN! (4)

This week, we will conclude the series of articles on “The Putrid Mess Also in CBN!” with an examination of the misguided application of the Central Bank’s instruments of control, and wonder why these wrongheaded policy measures were not subjected to the simple test of whether or not they were in conformity with commonsense!

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