Nigeria’s Foreign Trade Payments Crash by 57% Nigeria’s Letter of Credit payments in the first seven months of 2024 have dropped by 57.04 per cent to $391.91m compared to $912.35m in the same period of 2023. This is according to the weekly International Payments Data provided...

Nigeria's FX Reserves Fall to $36.32bn According to data released by the Central Bank of Nigeria (CBN), the nation's foreign exchange reserves fell to $36.32bn as of August 29, 2024, according to data released by the Central Bank of Nigeria. This marks a decline from the...

Commercial Banks Loan N4.68 Trillion to Nigeria's Agricultural Sector from 2018 to 2022 - Report  In a recent report, Nigeria's commercial banks reportedly provided N4.68 trillion in loans to the agricultural industry between 2018 and 2022. This finding comes at a critical time as the Federal...

Nigeria’s Surging Diaspora Remittances By Abdulrahman Abdulraheem As a so-called third world country with millions of its nationals in different parts of the world working to earn a decent living, Nigeria is one of those nations whose mass population relies heavily on ‘manna’ from abroad to...

Currency Outside Banks Drops by 3.32% – CBN Currency held outside of Nigeria’s banking system dropped to N3.66tn in July, about 3.32 per cent lower than it was in the previous month. This was disclosed in Money and Credit data available on the website of the...

CBN Revokes Suspension on Standing Lending Facility The Central Bank of Nigeria (CBN) has lifted the suspension on the Standing Lending Facility (SLF), a critical tool used by banks to manage their short-term liquidity needs. This move follows the recent decisions by the Monetary Policy Committee...