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...

Banks Demand Tax Clearance Certificate On FX Transactions   The federal and state governments have mandated commercial banks as well as Ministries, Departments and Agencies of Government (MDAs) to henceforth, implement the demand for a valid Tax Clearance Certificate (TCC) as a prerequisite for carrying out...

Ten Banks Spent N542.8bn On Customers’ Deposits In Q1, 2023   With the Monetary Policy Rate (MPR) currently at 18 per cent, a total of 10 banks spent N542.8billion on customers’ deposits in first quarter (Q1) ended March 31, 2023, an increase of 71.83 per cent...

Currency Outside Banks Above N843bn – CBN   Due to the cash crunch which affected economic activities across the country, the Central Bank of Nigeria (CBN) has disclosed that the currency outside the bank vaults as at the end of February rose to N843.311 billion. This is...