Bank Loans Rise By N2.35trn   Despite an increase in bank credit to the private sector, the non-performing loans stood at 6.54 per cent as of February, 1.54 per cent above the prudential benchmark set by the Central Bank of Nigeria. Credit to the private sector rose...

Customs Generates N225m Revenue, Impounds N197.4m Goods In Bauchi   The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone ‘D’, with headquarters in Bauchi on Thursday said it generated N224.7m and seized contraband and smuggled goods worth N197.4m between November 2019 and March 2020. The News...

Nigeria To Suffer $15.4bn Loss In Crude Oil Earnings – Analysts   Nigeria and other African economies are projected to record substantial revenue losses, particularly from the oil and gas sector, as the devastating effects of the Coronavirus pandemic continues its devastating toll on the...

Dangote Loses $2.5bn In One Month     The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw its total net worth drop by $2.5bn in the last 30 days, according to Bloomberg Billionaires Index. The index, which is a ranking of the world’s 500 richest people, showed that...

CBN, Dangote Plan N120bn COVID-19 Fund, Rabiu, Elumelu Donate N6bn   The Central Bank of Nigeria and the private sector, led by Aliko Dangote Foundation and Access Bank, have set up a coalition aimed at raising N120bn towards the fight against COVID-19 in Nigeria. The Governor, Central...

In 2019, NNPC Spent N218.18bn On Ailing Refineries   Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The refineries, namely Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, recorded...