Banks’ Borrowing From CBN Drop By 42% In H1, 2022   Banks borrowings from the Central Bank of Nigeria (CBN) declined by 42 per cent in the first half of 2022 compared to the previous year following the increase in Monetary Policy Rate (MPR), improved business...

Bank Assets Rise By 21% To N64.32trn   Nigerian banks’ total assets rose by N11.15tn in one year to N64.32tn as of the end of April. Figures obtained from the Central Bank of Nigeria revealed that the assets of the lending institutions had hit N53.17tn in the...

CBN, Importers, Exporters Dominate I&E FX Window - Report   The forex market is segmented with multiple exchange rates, with the Investors and Exporters window (I&E FX) window as the most important rate. In a report, Managing Director, Financial Derivatives Company Limited, Bismarck Rewane, said the Central...

Credit to Private Sector Hits N3.01trn In Five Months   With the Central Bank of Nigeria (CBN) retaining 65 per cent minimum Loan-to-Deposit Ratio (LDR), among other policies to boost lending, credit to private sector between January and May 2022 added N3.01 trillion reaching an all-time...

FG to Focus on Agric Startups to Boost Economy Diversity   The federal government has announced its plan to focus more on startups in the agricultural sector and women-led enterprises in Nigeria. Speaking in Abuja ahead of the Micro, Small and Medium Enterprises (MSME) Day, which is...

Banks Record N1.21trn Non-performing Loans   The total non-performing loans in the banking sector hit N1.21tn as of the end of February 2022, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN stated in reports obtained from the Monetary Policy Committee that the...