Credit to Government by Banks Hit N42trn in September - CBN The Central Bank of Nigeria (CBN) says credit extended to the government by banks surged to N42.02 trillion in September 2024, representing a 78.6 percent increase from N23.52 trillion in January. Credit to the government...

Court Orders Final Forfeiture Of $2.04m, Properties, Shares Linked to Emefiele The Federal High Court sitting in Lagos on Friday ordered the final forfeiture of the sum of $2.045m, seven choice landed properties and share certificates linked to the former Governor of the Central Bank...

Nigeria Secures N2.8bn from Google to Advance AI Development The federal government has secured N2.8 billion grant from Google to boost artificial intelligence (AI) talent development in the country. Bosun Tijani, minister of communications, innovations and digital economy, announced the partnership at a press briefing in...

Nigeria, EU Sign £17.9m Power Development Agreement The Federal Government has signed an agreement with the European Union (EU) and the German Government to provide support worth £17.9m to fund Nigeria’s off-grid electricity project. The project launched under the third phase of the Nigerian Energy Support...

Why Local Refiners Should Participate in Petroleum Production The House of Representatives has called on the Federal Government to develop a blueprint for the involvement of indigenous refiners in the nation’s petroleum production value chain. The House’s resolution followed the adoption of a motion on the...

Currency Outside Banks Increases by 66% – CBN Currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year. This is according to the Money and Credit Statistics data...