Inflation May Peak At 15.62% In Q2, 2021 — CBN Report       The inflation rate in Nigeria is expected to further rise from the current 14.23 per cent to 15.62 per cent in the next six months, a monthly Central Bank of Nigeria (CBN) survey of...

CBN To Fund One Million Hectare Rice Farming       Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the CBN was targeting to fund farmers to cultivate at least one million hectares of farms in the 2020 dry season farming in the...

Six Lending Banks Boost Economy With N1.3trn Credit In 2020         Efforts to grow the nation’s economy has received a boost from the banking sector as six leading banks injected additional N1.337 trillion through loans and advances to their customers across all sectors of the economy...

Banking Agents Increased By 517% In One Year – CBN         The number of banking agents (third party retail outlets contracted by financial institutions to process clients’ transactions) rose from 38, 416 agents in December 2018 to 236,940 agents as of December 2019. This growth in the...

CBN Increases Credit For Households To N300bn           The Central Bank of Nigeria (CBN) has increased the Targeted Credit Facility (TCF) to N300 billion. The facility, which is meant for households and small and medium enterprises affected by the COVID-19 pandemic, was N150 billion. The expansion of the...

Local Airlines Hike Fares To 100%         One of the most expensive pricing regimes in local airfares may be upon the aviation industry, as ticket rates have more than doubled in a week. The spike, which operators blamed on an exchange rate that hit N500 to $1...