CBN Questions JP Morgan's $3.7bn Estimate of Net Reserves, Faults Claim The Central Bank of Nigeria has faulted the recent $3.7bn estimate of the bank’s financial accounts by JP Morgan, saying it was “out of context”, and assured that there was no cause for panic. CBN...

MAN Warns FG, Says N77trn Debt may Halt Tinubu’s Economic Plan Nigeria's estimated N77 trillion debt burden is likely to stifle President Tinubu's economic plans, says the Manufacturers Association of Nigeria (MAN). The manufacturers also lamented that the sector has been at the receiving end of...

Nigeria’s Net Foreign Reserves Drop to $3.7bn in 2022 – JP Morgan An American multinational financial services firm, JP Morgan, has estimated that Nigeria’s net foreign exchange (FX) reserves drop to $3.7 billion as of the end 2022. This is contained in the firm’s latest report...

CBN Loan To Manufacturer, Power Firms Soars To N5.6trn   The Central Bank of Nigeria (CBN) intervention in the power, manufacturing and aviation sectors have risen to N5.6tn in three years. The soft loans were advanced amid the continued and varied challenges facing the key sectors of...

CBN Releases N38bn Loans To Mortgage Banks   The Central Bank of Nigeria (CBN) disbursed loans and advances worth N37.6bn to mortgage banks in 2022; the audited financial statement of the apex bank has shown. The mortgage banks that received the loans from the CBN include the...

Naira Redesign, Others Gulped N74bn In 2022, Says CBN   It cost the Central Bank of Nigeria (CBN) and its subsidiary about N74.84bn to produce and roll out currencies, including new naira notes, in 2022. Despite the scarcity of naira that plagued the country in the latter...