Banks’ Deposits With CBN Now N3.42trn - Report The deposits of banks with the Central Bank of Nigeria ( CBN) hit a weekly high of N3.42tn at the end of last week. This followed the announcement of the operationalisation of the Standing Deposit Facility asymmetric corridor...

FG Signs N11bn Concession Agreement For Tincan Water System   The Federal Government through the Nigerian Ports Authority (NPA) has handed over the Tincan Island Water System facilities to Sandust Tincan Water Project Limited after it signed a 16-year concession agreement with the firm valued at...

Electricity Subsidy: Hospitals, Tertiary Institutions May Gulp N188bn   The Federal Government may spend approximately N188.25 billion annually to subsidise electricity supply for about 75 public tertiary hospitals and 300 educational institutions across the country. This follows the Federal Government’s approval of a 50 per cent subsidy...

REA Announces Completion Of N28.7bn Projects From 2023 Budget   The Rural Electrification Agency (REA) yesterday said it has completed N28.7 billion projects out of its N31.7 billion allocation in 2023. Its Acting Managing Director, Engr. Abba Aliyu said this during the presentation of REA 2023...

FG Pays N205bn From N1.3trn Owed Power Generation Companies The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector. The government also stated that the noticeable improvement...

'Banks’ Assets Rise To N121.8trn' The total assets of the banking sub-sector of Nigeria’s Financial & Professional Services Sector, has risen by 56.14 per cent to N121.8tn. This was disclosed in the State of Enterprise 2024 Report released by the EnterpriseNGR on Monday. EnterpriseNGR is a member-led...