Ahead of December 15 Policy, Banks Receive Redesigned Notes
The Central Bank of Nigeria (CBN) has commenced the distribution of the newly redesigned naira to the banks in readiness for issuance to customers as the new policy kicks off December 15, 2022.
Godwin Emefiele, CBN’s governor...
Nigeria, Others Facing Huge Debt Crisis - World Bank
The World Bank has said that Nigeria and other developing countries are facing debt crisis, noting that the situation has intensified.
The World Bank Group President, David Malpass, disclosed this in a statement titled, ‘Debt-Service Payments Put...
Reps Pass NCC N553.7bn Budget
The President Muhammadu Buhari has transmitted to the House of Representatives, the proposed budget of the Federal Capital Territory for 2023.
It also adopted the report of its Committee on Telecommunications on the budget of the Nigerian Communications Commission (NCC) for...
In 5yrs, CBN Spent $65bn To Stabilise Naira
After spending about $65 billion to stabilise the naira within five years, the Central Bank of Nigeria (CBN) must stop depleting Nigeria’s foreign reserves on the naira stability, said an economist and consultant, Mr. Ademola Henry Adigun.
Adigun...
RMAFC, EFCC Uncovers Oil Firms’ $205m Unremitted Funds
The Revenue Mobilisation Allocation and Fiscal Commission(RMAFC) has said that it discovered $205.01m unremitted to the federation account by oil and gas companies through joint efforts with the Economic and Financial Crimes Commission(EFCC).
It noted that it had...
Banks’ Consumer Loans Increases By 31% To N2.55trn On Rising Inflation
On the back of rising inflation rate in Nigeria, banks’ consumer loans rose by 31 per cent or N615.82 billion in one month to N2.55trillion in July 2022 from N1.93trillion in June 2022, the...
