Consumer Credit Increases By 32% To N3.05trn In 9 Months   Consumer credit rose by 32 per cent to N3.05 trillion in the nine months to September 2023, 9M ‘23 from N2.31 trillion at the end of December 2022. The Central Bank of Nigeria, (CBN) disclosed this...

'Nigeria Borrows $1.7bn to Boost FX Inflows'   Nigeria got $1.71bn in foreign loans to boost foreign exchange inflow into the country in the first nine months of 2023. Total capital importation including Foreign Direct Investment, Foreign Portfolio Investment, and others amounted to $2.82bn in the time...

Union Bank Probe: CBN Investigator Rejects Lemo, Others’ Plea The Special Investigator probing the activities of the Central Bank of Nigeria (CBN) and Other Related Entities, Mr. Jim Obazee, yesterday rejected an excuse by the Chairman of Titan Trust Bank Limited, Mr. Tunde Lemo, and...

Banks are Healthy, Safe - CBN Urges Nigerians to Ignore Takeover Rumours The Central Bank of Nigeria (CBN) has denied reports, in certain media outlets (not Economic Confidential), about a recommendation for the Federal Government to take over some CBN-supervised financial institutions. The apex bank in...

Union Bank Deal: CBN Investigator Summons Lemo, Others Over Controversial Acquisition The Special Central Bank of Nigeria Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, and two other shareholders in connection with the acquisition of Union Bank of Nigeria Plc...

Ahead of CBN Deadline, BVN Enrollment Nears 60m As the Central Bank of Nigeria’s December 18, 2023, deadline approaches for the registration for the Bank Verification Number, the number of registered Nigerians has hit 59.9 million. This is according to the latest BVN registration data update...