FG Plans Bridge Bank To Support Struggling Lenders         Nigeria plans to start a fund that will operate a bridge bank to nurse struggling lenders back to health, Bloomberg reported on Monday. The Central Bank of Nigeria will inject N10bn, or an amount that still needs to...

Forex Reserves Drop To $35.63bn, Lowest In Two Months         The nation’s foreign exchange reserves have fallen to the lowest level in more than two months, the latest data from the Central Bank of Nigeria have shown. As of November 10, the forex reserves stood at $35.63bn,...

CBN MPC members Express Worry Over High Demand Pressure In Forex         Some members of the Monetary Policy Committee of the Central Bank of Nigeria have expressed concerns over the high demand pressure in the nation’s foreign exchange market. The MPC members voiced their concerns at the...

Agric Intervention: CBN Warns Banks Against Funds Diversion         The Central Bank of Nigeria has warned banks participating in the Private-Sector-led Accelerated Agriculture Development Scheme against diverting the intervention funds meant for agro-processors and others. The CBN gave the warning in its guidelines for the scheme which...

‘Loan Defaults Worsened In Third Quarter’       Defaults in unsecured loans to household and small businesses during the third quarter worsened and this is expected to continue in the fourth quarter of the year, the Central Bank of Nigeria has said. The regulator said this in its...

Banks Divert Loans To Public Sector         In apparent demonstration of low confidence in the economy, banks are focusing their lendings to the public sector to the detriment of the private sector. Despite the increased tempo of economic activities following the lifting of the Coronavirus induced economic...