Nigeria Loses N34.1bn As Oil Firms Flare 12.7 mscf   Despite Nigeria’s dwindling revenue, oil and gas companies operating in the country flared 12.7 million standard cubic feet (mscf) of gas in July 2023, according to the latest data from the National Oil Spill Detection and...

NSIA Commits $500m To Domestic Infrastructure   The Managing Director & Chief Executive Office, Nigeria Sovereign Investment Authority (NSIA), Mr Aminu Umar-Sadiq, yesterday disclosed that the Authority has committed $500 million to domestic infrastructure, whilst also enabling third party investments of over $1 billion. He said this...

CBN Loan To Manufacturer, Power Firms Soars To N5.6trn   The Central Bank of Nigeria (CBN) intervention in the power, manufacturing and aviation sectors have risen to N5.6tn in three years. The soft loans were advanced amid the continued and varied challenges facing the key sectors of...

CBN Releases N38bn Loans To Mortgage Banks   The Central Bank of Nigeria (CBN) disbursed loans and advances worth N37.6bn to mortgage banks in 2022; the audited financial statement of the apex bank has shown. The mortgage banks that received the loans from the CBN include the...

Naira Redesign, Others Gulped N74bn In 2022, Says CBN   It cost the Central Bank of Nigeria (CBN) and its subsidiary about N74.84bn to produce and roll out currencies, including new naira notes, in 2022. Despite the scarcity of naira that plagued the country in the latter...

Naira Trades 845/dollar at Parallel Market Today The naira rebounded against the United States dollar at the parallel market, closing at 850/dollar on Wednesday. This came about two days after the Central Bank of Nigeria announced its planned intervention in the foreign exchange market. The naira was...