Public Debt Hits N121tn Nigeria’s total public debt has reached N121.67tn, increasing by N24.33tn or 24.99 per cent within three months, the Debt Management Office has announced. This new figure is from a total debt of N97.34tn ($108.23bn) as of December 2023. The DMO in a statement...

$2.25b World Bank Loan Offers Hope for Economic Recovery The Federal Government of Nigeria has secured $2.25 billion in funding from the World Bank, comprising two key financial operations aimed at economic stabilisation and support for vulnerable populations. Key details of the facility include a 40-year...

Naira Depreciates by 215% in One Year Since the harmonisation of the foreign currency market segments in Nigeria one year ago, the naira has depreciated by about 214.64 per cent against the dollar. At the close of trade on Friday, the naira stood at N1482.72 to...

W'Bank to CBN: Interest Rate Hike may not Lower Inflation The World Bank has stated that monetary policy tightening by the Central Bank of Nigeria (CBN) may not rein in inflation and remains a risk to Nigeria’s growth outlook. The international lender disclosed this in its...

8,651 RSA Holders Withdraw N14bn from Pension Savings – PenCom About 8,651 Retirement Saving Account holders withdrew N14.20bn in the first quarter of 2024 due to temporary job loss. This was disclosed in the first quarter report 2024 published by the National Pension Commission recently. In the...

Debt Servicing Gulps $2.2bn in Five Months – CBN Nigeria’s debt servicing gulped about N2.2bn in the first five months of this year, the latest data from the Central Bank of Nigeria (CBN) have revealed. This is almost half of the $4.8bn projected for the entire...