CBN Report Reveals Economy Contracted In November   Economic activities contracted in November as the Purchasing Managers’ Index fell below 50.0, according to reports obtained from the Central Bank of Nigeria. The CBN stated in reports of members of the Monetary Policy Committee that there was need...

Bank Deposits Rise to N43tn in 2022 The Central Bank of Nigeria Monetary Policy Committee report has shown that deposits by Nigerian banks rose by N6.92tn from N36.13tn as of the end of October 2021 to N43.05tn in the corresponding period of 2022. The Deputy Governor,...

FG Interventions: Manufacturers, Others Urged to Repay N10tn Loan - CBN The Central Bank of Nigeria has frowned at the incessant reluctant repayment of loans provided by the bank, noting that it might affect the sustainability of the bank’s initiatives. The Deputy Governor, Financial System Stability...

CBN Targets 95% Financial Inclusion By 2024   The Central Bank of Nigeria (CBN) has unveiled seven key policies and products that will aid the realisation of 95 per cent financial inclusion in Nigeria by 2024. The policies include, the revised National Financial Inclusion Strategy (3.0), the...

Banks’ Assets Rise by 22% to N65tn in One Year - FSSD The Deputy Governor, Financial Systems Stability Directorate, Aishah Ahmad, has disclosed that total assets in the Nigerian banking sector rose by N11.8bn in one year to N65.48tn as of the end of June...

Banks’ Non-performing Loans Fall Below 5%, First Time In 10 Years   The Central Bank of Nigeria (CBN) has stated that for the first time in about a decade, the non-performing loans (NPLs) levels of commercial banks in Nigeria has fallen below the regulatory benchmark of...