ICT Firms’ Borrowing From Banks Rises To N982.87bn   The loans obtained by the information, communication and technology (ICT) firms from banks rose from N952.06bn in January 2022 to N982.87bn in March 2022, according to data from the Central Bank of Nigeria. The CBN sectoral analysis of...

Why CBN Issues Guidelines For Open Banking In Nigeria The Central Bank of Nigeria has issued a regulatory framework for Open Banking in Nigeria as an effort to enhance financial services through data sharing across the banking payment systems. In a circular titled, ‘Operational guidelines for...

Nine Banks’ Non-performing Loans Rise, Now N814bn   The aggregate Non-performing Loans of nine banks increased to N814.08bn in 2021, representing a 3.16 per cent increase from the N789.14bn reported. The nine banks are Access Holdings Plc, Zenith Bank Plc, Wema Bank Plc, FCMB Group, Union Bank...

Bank Loans To Govt Rise To N16.32trn – CBN   The total net credit by the Nigerian banking sector to the government rose by N2.2trn in the first quarter ended March 2022 to N16.32tn. Figures obtained from the Central Bank of Nigeria’s data on ‘Money and credit...

Banks Cut Borrowing From CBN By 46% To N1.3trn   In apparent reflection of the improved liquidity in the interbank money market, banks’ borrowing from the Central Bank of Nigeria, CBN, fell by 46 per cent, month-on-month, MoM, to N1.3 trillion in January. On the other hand...

PFAs Invest Additional N693bn Pension Funds In Banks   The Pension Fund Administrators invested N693bn funds under the Contributory Pension Scheme in banks in nine months, according to data from the National Pension Commission. PenCom’s unaudited report on pension funds industry portfolio for the period ended September...