External Reserves Lost $350m In Two Weeks - CBN
The country’s external reserves lost $350m in two weeks, falling to $34.9bn on April 29 from a high of $35.25bn as of April 16.
Figures obtained from the Central Bank of Nigeria on Monday revealed that the...
Banks Borrowing From CBN Increase By 174% To N2.4trn
In apparent reflection of the intense scarcity of funds that prevailed in the interbank money market in April, banks’ borrowing from the Central Bank of Nigeria (CBN) rose by 174 per cent to N2.48 trillion from...
CBN, Experts Urge Microfinance Banks To Boost Financial Inclusion
The Central Bank of Nigeria and financial sector experts have called for collaborative efforts among microfinance banks to promote the expansion of micro-insurance as a tool for deepening financial inclusion.
They made the call at the sixth...
CBN N120bn Fund: Consumers Want Meters, Improved Power Supply
Power consumers and power sector experts have tasked the 11 power Distribution Companies (DisCos) on accelerating meter installations for the over eight million customers while improving power supply by enhancing their networks.
This is coming on the...
Five Major Banks Post N680bn Bad Loans
Five of the major banks in the country, also known as Tier-1 banks have posted whopping N683bn non-performing loans in the 2020 financial year.
According to the financial reports of the banks, released in April this year to the...
Foreign Portfolio Investments Drop By 40.4% In Q1, 2021
Foreign portfolio investments (FPIs) in Nigeria dropped by 40.35 per cent to N150.23 billion in the first quarter of the year as against N251.87 billion recorded in comparable quarter of last year.
Nigeria’s latest FPI report obtained...
