Bad Loans: Banks Reduce Consumer Credits By 11%       Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was...

Banks’ Borrowings From CBN Drops By 93%       Deposit Money Banks’ reliance on the loans from the Central Bank of Nigeria (CBN) fell sharply by 93 percent in August, driven by surge in idle cash (excess liquidity) in the interbank money market. Also reflecting the excess liquidity...

Operators Urge FG On Forex For N100bn Health Fund       Operators in the Nigerian pharmaceutical industry on Tuesday appealed to the Central Bank of Nigeria (CBN) to make a special allocation for all those who are beneficiaries of the healthcare facility to be given forex to...

‘Textile Can Generate 2.5 Million Jobs’       Vice-President of Industrial Global Union, Mr. Issa Aremu, has said that the textile industries alone can generate over 2.5 million jobs in Nigeria if rejuvenated. He said the current government could create 100 million jobs over the next 10 years...

Foreign Portfolio Investments Fall By N178.7bn In Q3         Foreign portfolio transactions in the Nigerian markets declined by N178.66billion to N510.25 billion by third quarter 2020 as foreign investors continued selloff amid concerns over foreign exchange control, illiquidity and other macroeconomic risks. Latest foreign portfolio investment (FPI)...

Lawmakers Probe N1.8bn Oil Terminal Contract       The House of Representatives has set up an enquiry into alleged irregularities in the oil Terminal Contract sum of N1. 8billion. Chairman, House Committee on Public Accounts, Rep. Woke Oke disclosed this during the investigative hearing into the execution of...