Bank Deposits Rose By N4.7trn In Seven Months – CBN       The total deposits in the banking sector rose from N25tn in January to N29.7tn as of the end of August. Within the same timeframe, bank loans rose by N2tn. The Director, Corporate Communications, CBN, Isaac Okorafor,...

Presidency Pressures Ministers, Others Over N2.3trn Stimulus Package       There are indications that the Presidency is pressurizing ministries and departments of the Federal Government to begin implementation of the N2.3 trillion stimulus package earmarked to tackle the economic distortions and hardships caused by the COVID-19 pandemic,...

Five Banks Raked In N175.41bn On Fees, Commission       Following the harsh macroeconomic environment that characterised the second quarter of 2020 due to the COVID-19 pandemic, five Nigerian commercial banks saw the amount generated from customers’ fees and commission in the first half of the year...

122 MDAs Fail To Remit N1.2trn Operating Surpluses - FRC       The non-remittance of revenue by most ministries, departments and agencies of government to the Consolidated Revenue Funds of the Federal Government is currently N1.2tn, the Fiscal Responsibility Commission said on Monday. The FRC is responsible for...

AMCON Takes Over Hydro Hotels Over N600m Debt     The Asset Management Corporation of Nigeria said it has taken over the assets of Hydro Hotels Limited and its chief promoter over an indebtedness of N600m. The Head of Corporate Communications Department, AMCON, Mr Jude Nwauzor, disclosed this...

CBN Commits N662bn To Banks’ Liquidity Control, Stability     Commercial and merchant banks accessed N662 billion loans from the Central Bank of Nigeria (CBN) to control their liquidity and maintain stability, the the apex Economic has shown. The report also showed that the loans, which came through...