Banks’ Borrowing Drops by 14% to N453.7bn - CBN
Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) fell month-on-month (MoM) by 14 percent to N453.7 billion in February from N528.15 billion in January 2023.
Findings from the CBN’s Financial Data for...
China, Nigeria Trade Deals Falls By N37bn in 1 Year
The trade deal between China and Nigeria dropped by N37.3 billion or $81 million in 2022 from the previous record in 2021, just as both countries make efforts to improve bilateral relations.
The Minister and Counsellor...
Reactions as NNPCL Hires Expatriate to Head Subsidiary
The Nigerian National Petroleum Company (NNPC) Limited has hired a former vice president of the Abu Dhabi National Oil Company (ADNOC), Jean-Marc Cordier, to head its oil trading arm, NNPC Trading Ltd.
The appointment of Cordier has raised...
Cash Crunch: E-bills Payment Falls by 44% Amidst Cashless Policy – NIBSS
The Nigeria Inter-Bank Settlement System recent report has indicated a fall in the value of electronic utility payments by 44.86 per cent in February despite the Central Bank of Nigeria’s naira redesign policy...
Report: Africa Accounts for 55% of World’s Poor, Says ECA
The Chief Economist at the Economic Commission for Africa, Hanan Morsy, revealed that Africa currently accounts for more than half of the World’s poor at 54. 8 per cent.
Morsy said this at the 55th session...
Market Offences: NGX Fines 16 Firms N779m In Three Years
The Nigerian Exchange Limited has sanctioned 16 companies for various market infractions in three years.
Specifically, the NGX imposed the sum of N779.5m fine on LASACO Assurance Plc, Presco Plc, Ardova Plc, C&I Leasing Plc, and...
