CBN’s Lending To Commercial Banks Drops by N350bn   Data obtained from the Central Bank of Nigeria (CBN) suggest that money deposit banks (DMBs) could be struggling to park excess cash holdings despite low access to funds by the real sector. According...

Insurance Industry Assets Hit N2.3trn - NAICOM   The total assets of the country’s insurance industry have increased to N2.3 trillion in the second quarter of 2022, growing by 11.9 per cent or N200 billion from the second quarter of 2021. The...

E-payment Transactions Decline To N32.84trn   Banks network malfunction, among other factors, contributed to N396.18billion or 1.19 per cent decline in Nigeria Inter-Bank Settlement Systems (NIBSS) Instant Payment Platform (NIP) to N32.84 trillion in September 2022 from N33.2 trillion reported by...

Investors Lose N902bn In Four Days   Investors at the Nigerian equities market closed weekend with a net loss of N901.98 billion as increased selloffs forced most stocks to close at lower prices. Benchmark indices for Nigerian equities closed weekend with average...

Analysts Kick As CBN Loans To FG Hit N22trn   The Federal Government borrowed N1.46tn from the Central Bank of Nigeria through Ways and Means Advances in August 2022. The total FG’s borrowing from CBN rose from N20.61tn in July 2022 to...

Fed Govt Plans N854.8bn For Pensions, Gratuities In 2023   The Federal Government plans to spend N854.8bn on pensions, gratuities and retirees’ benefits in the 2023 budget. President Muhammadu Buhari disclosed this while presenting the 2023 appropriation bill to a joint session...