PFAs Exposure In FGN Securities Rise By 17% To N29.66trn   The hike in Monetary Policy Rate (MPR) by Central Bank of Nigeria (CBN) in an effort to tackle double-digit inflation is driving Pension Fund Administrators (PFAs) to gilt edge securities as their exposure to federal...

Debt Servicing Rises To $112m Monthly - CBN   Data from the Central Bank of Nigeria’s Weekly International Payments showed that the Federal Government spent $112.35m servicing external debt in January 2023. The amount spent in January was 146.17 per cent higher than the $45.64m spent in...

Foreign Investors Decline Holdings in Nigerian Stocks by 58% Foreign portfolio investors (FPI) scaled down their investments in Nigerian’s stock market to N53.71 billion in the first quarter of 2023, Q1’23, following concerns around rising socio-political risks, increased naira volatility among others. This represents a 58.3...

Budget Office Warns FG of Imminent Crisis as Debt Rises The Budget Office of the Federation has said Nigeria now has a “limited borrowing space” due to its poor debt-to-revenue ratio, stressing that “trouble” looms for the country if it exceeds its limits. The Director-General of...

Banks Demand Tax Clearance Certificate On FX Transactions   The federal and state governments have mandated commercial banks as well as Ministries, Departments and Agencies of Government (MDAs) to henceforth, implement the demand for a valid Tax Clearance Certificate (TCC) as a prerequisite for carrying out...

IMF To Nigeria: Expect Significant Reduction In Foreign Loans   The International Monetary Fund (IMF) has warned Nigeria to expect a significant reduction in foreign loans as the global economy continues to experience new shocks and contractions. The IMF Deputy Divisional Chief, Wenjie Chen, stated this during...