CBN Guarantees N5.9bn Loan For 31,666 Farmers Under ACGSF   The Central Bank of Nigeria (CBN) has said 31,666 loans worth N5.92 billion were guaranteed under the Agricultural Credit Guarantee Scheme Fund (ACGSF) in 2021. Meanwhile, beneficiaries of the scheme called for an increase in the maximum...

Paxful: Nigerians Defy CBN's Ban as Bitcoin Transactions Double in May  Despite the Central Bank of Nigeria’s restrictions on cryptocurrency transactions in the country,  Paxful, a cryptocurrency trading platform, has reported a surge in weekly transactions on its Lightning Network. According to the trading platform, the...

Debt Servicing Doubles, Hits N896bn In Three Months – DMO   Nigeria’s debt servicing bill has increased by 109 per cent to N896.56bn. As a result, the country has also spent N3.83tn on debt servicing payments in 15 months, according to data obtained from the Debt Management...

FG’s Spending On Pension, Gratuity Drops To N356bn - CBN   The Federal Government’s expenditure on pension and gratuity fell slightly by N3.48bn in 2021, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN revealed in its data on ‘Federal Government recurrent expenditure’...

Nigeria’s Forex Reserves To fall, CBN Plans $1.7bn Arrears Payment   Nigeria’s forex exchange reserve will fall in 2022 as the Central Bank of Nigeria (CBN) plans to clear about $1.7bn in FX backlog to foreigners and FX forward contracts, the World Bank has said. The global...

CBN Boosts Sesame, Cocoa Exports With N21bn Disbursement The Central Bank of Nigeria (CBN) has disbursed N21bn to boost the production and export of cocoa and sesame seeds. According to the bank, the CBN Governor, Godwin Emefiele, disclosed this at the last Monetary Policy Committee, while...