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FBNQuest Merchant Bank previously known as Kakawa Discount House is one of the five operational discount houses in Nigeria which serves as government financial tools and acts as a middle access points between all other banks in Nigeria and the Apex bank of Nigeria, the Central Bank of Nigeria. FBN Quest Merchant bank is a subsidiary of First ...
This is a list of commercial bank with International Authorization in Nigeria, arranged alphabetically: [1] Access Bank Plc. Fidelity Bank Plc. First City Monument Bank Limited. First Bank of Nigeria Limited. Guaranty Trust Holding Company Plc. Union Bank of Nigeria Plc. United Bank for Africa Plc. Zenith Bank Plc.
Banker's acceptances date back to the 12th century when they emerged as a means to finance uncertain trade, as banks bought bills of exchange at a discount. During the 18th and 19th centuries, there was an active market for sterling banker's acceptances in London.
Nigerian naira. The naira ( sign: ₦; code: NGN; Yoruba: náírà, Hausa: نَيْرَ, romanized: naira, Igbo: naịra, Tyap: nera) is the currency of Nigeria. One naira is divided into 100 kobo. [2] The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federal Republic of Nigeria.
The Indian rupee plummeted to a historic low on Thursday, driven by strong dollar demand from local importers and likely capital outflows. What Happened: The rupee sank to an all-time low of ₹83 ...
Discounting. In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee. [1] Essentially, the party that owes money in the present purchases the right to delay the payment until some future date. [2]
Financial regulation. Reserve requirements are central bank regulations that set the minimum amount that a commercial bank must hold in liquid assets. This minimum amount, commonly referred to as the commercial bank's reserve, is generally determined by the central bank on the basis of a specified proportion of deposit liabilities of the bank ...
The Big Mac Index is a price index published since 1986 by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and providing a test of the extent to which market exchange rates result in goods costing the same in different countries. It "seeks to make exchange-rate theory a bit more digestible ...