Browsing Tag

long term

CBN ends currency sales to banks

The Central Bank of Nigeria (CBN) has announced its intention to stop selling foreign currencies (forex) – US dollar, euro, pound sterling, among others – to banks. The apex bank had warned depository banks (DMBs) that it would stop selling…

What is a balloon mortgage payment?

When you are considering home loan options, you may come across something called a lump sum payment. A lump sum payment is often tied to a lump sum loan, which may have lower upfront payments than a traditional loan, but can also increase…