Naira Falls to 770.38/$ at Official Market The naira slumped further to the dollar after closing at 770.38/$ at the end of trading on the investor & exporter forex window on Monday. According to figures obtained from the FMDQ on Monday, the trading rates had closed...

Election Uncertainties Trigger Increase In Consumer Loans to N2.45trn   Banks increased consumer loans to N2.45 trillion in February 2023, up by 5.6 per cent from N2.32 trillion in December 2022. Financial industry experts attributed the development to an increase in demand occasioned by apprehension about the...

Banks’ Borrowings From CBN Rise By 464% To N4.95trn   Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) rose year-on-year (YoY) by 464 percent to N4.95 trillion in the first quarter of 2023 (Q1’23) from N877 billion in the corresponding period...

Currency Outside Banks Rise To N2.34trn In April   Currency outside the banks has spiked for the fourth consecutive month to N2.08trillion in April 2023, about 87.43 per cent of total currency in circulation (CIC) that closed that month under review at N2.38trilllion. The Money and Credit...

CBN Says Bank Lending to Oil Firms Rises to N7tn The Central Bank of Nigeria has disclosed that the combined bank lending to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry was N6.62tn as of December 2022. While...

Banks’ Assets Rise to N78tn in Q1 - CBN The Central Bank of Nigeria says the total assets of the Nigerian banking industry rose by 25.12 per cent in one year to N77.59tn as of the end of February 2023. This was disclosed in a statement...