In Three Months, Banks Borrowed N1.7trn From CBN         Deposit Money Banks borrowed N1.7tn from the Central Bank of Nigeria in the third quarter of 2020. The CBN disclosed this in its third quarter economic report. Part of the report read, “Deposit Money Banks and merchant banks continually...

Consumers’ll Avoid Buying Expensive Items In 2021 – CBN Survey         The Central Bank of Nigeria has said most of the consumers it surveyed recently do not have plans to buy big-ticket items in 2021, considering the current economic conditions, according to a survey by the...

Nigeria’s Forex Inflow Hits $21bn In Q3       The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion, according to data from the Central Bank of Nigeria (CBN). The CBN, in its third quarter economic report said...

CBN Debits 23 Banks N349.72bn       The Central Bank of Nigeria has debited 23 financial institutions N349.72bn in Cash Reserve Requirement. These debits occurred towards the end of last week, as the apex bank intensified its effort in mopping liquidity amid rising inflation. The recent action by the...

Rising Inflation’ll Weaken Economy – CBN Survey       Rising inflation will weaken the country’s economy, a new survey by the Central Bank of Nigeria has revealed. The statistics department of the CBN disclosed in its inflation attitudes survey report for the fourth quarter of 2020 that respondents...

Fed Govt Records N1.29trn Fiscal Deficit In Three Months       The Federal Government recorded a fiscal deficit of N1.29tn during the third quarter of 2020. This was disclosed in the third-quarter economic report of the Central Bank of Nigeria released on Sunday. The CBN said, “At N2.27tn, federally...