CBN Says Nigerian Economy Contracted In November   The manufacturing and non-manufacturing Purchasing Manager’s Indices for November 2021 remained below the 50 index points at 47.3 and 47.5 index points. PMI readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show a deterioration. The...

External Reserves Gained $5bn In October - CBN   Nigeria’s external reserves rose by $5.05bn in October, the latest data from the Central Bank of Nigeria showed on Wednesday. The reserves increased from $36.78bn on September 30 to $41.83bn as of October 29. The Deputy Governor, Financial Systems...

Banks At Risk Of Loan Default - CBN Deputy Gov     The Deputy Governor, Financial Systems Stability Directorate, Central Bank of Nigeria, Aishah Ahmad, has said banks face imminent risk of loan default from exposure to oil-related lending. However, Ahmad, who is also a member of the...