BoI Assets Rises to N3.3tn in H1 – Report The Bank of Industry says it has recorded another historic milestone by achieving N3.3tn in total assets as of June 30, 2023. According to the bank, this represents a year-on-year growth level of 67 per cent on...

N400bn New Notes, N2.2trn Old Notes in Circulation - CBN Nigeria’s currency in circulation, which hit N2.60 trillion in June, might comprised N400 billion new notes and N2.2 trillion old bank notes. According to the latest data from the Central Bank of Nigeria (CBN), CIC rose...

Grant BDCs Digital Autonomy, ABCON Urges CBN The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria to grant Bureaux De Change operators (BDCs) digital autonomy to achieve exchange rate convergence. In a statement on Sunday, the President, ABCON...

Banks’ Bad Loans Hit N478bn   At least four banks recorded N478bn non-performing loans during the first half of this year, according to their financial results Specifically, Guaranty Trust Bank Holding Plc (GTCO), FBN Holdings Plc and two other banks reported N478.93bn non-performing loans by value in...

Duty Remittance: Customs, CBN Meet Erring Banks The Nigerian Customs Service (NCS) on Sunday, said only two banks were deactivated recently by the NCS over their failure to remit duties collected. It also stated that the erring banks had been reported to the stipulated financial authorities,...

Tinubu Commended for Attracting Investment to Iron, Steel Sector The Basic Metal, Iron and Steel Products Manufacturer, a sectoral arm of the Manufacturer Association of Nigeria, (MAN) has commended President Ahmed Bola Tinubu for his overwhelming performances and efforts towards the nation’s economic growth at...