Banks’ Borrowing Drops by 14% to N453.7bn - CBN Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) fell month-on-month (MoM) by 14 percent to N453.7 billion in February from N528.15 billion in January 2023. Findings from the CBN’s Financial Data for...

Cash Crunch: E-bills Payment Falls by 44% Amidst Cashless Policy – NIBSS The Nigeria Inter-Bank Settlement System recent report has indicated a fall in the value of electronic utility payments by 44.86 per cent in February despite the Central Bank of Nigeria’s naira redesign policy...

New Notes Dry up as Old Cash Circulation Improves Currency circulation has improved in major cities across Nigeria following the third day full implementation of the Supreme Court ruling on the legal tender status of old Naira banknote. Findings reveal that banks have started simultaneous dispensing...

Naira redesign implemention failure and its consequences By Kingsley Moghalu There is the fundamental lesson of whether our institutions in Nigeria have been hijacked and subverted from serving the Nigerian people and our economy to serving personal and political agendas. The terrible suffering and economic loss that...

Fuel Consumption Rises to 80million litres Daily as Subsidy Skyrockets - Report The consumption of Premium Motor Spirit, popularly called petrol, has risen to about 80 million litres daily, pushing up subsidy on the commodity to an estimated N484bn monthly, according to latest figures from...

CBN Charges African Regulators to Avoid Bank Failure The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has called on  the governors of Central Banks and other African financial sector regulators to be more vigilant in their regulatory and supervisory roles to forestall...