CBN Pledges Support For Power Sector   The Central Bank of Nigeria has visited the Eko Electricity Distribution Company (EKEDC) as part of its monitoring and evaluation tour of the CBN-funded intervention facilities for electricity distribution companies in Nigeria. The apex bank team was led by the...

'Interest Rate May Rise Above 30%'   Average interest rates to end-users may rise above 30 per cent in future as banks begin to adjust lending rates to the new Monetary Policy Rate (MPR). The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) last week increased...

Banks Tighten Forex Access As External Reserves Hit Seven-month Low   The country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed. Findings have shown that the continuous decline in the...

FG Urged To Provide Incentives To Drive Oil Investments - Group Participants at the Nigerian Content Midstream and Downstream Oil and Gas Summit has urged The federal government to provide more incentives to drive oil and gas investments. The summit which was organised  by the Nigerian...

ICT Firms’ Borrowing From Banks Rises To N982.87bn   The loans obtained by the information, communication and technology (ICT) firms from banks rose from N952.06bn in January 2022 to N982.87bn in March 2022, according to data from the Central Bank of Nigeria. The CBN sectoral analysis of...

LCCI, MAN, Others Kick As CBN Raises Lending Rate To 13%   The Lagos Chamber of Commerce and Industry (LCCI), Manufacturers Association of Nigeria (MAN) and the Nigerian-American Chamber of Commerce (NACC) have criticised the hiking of the monetary policy rate by the Central Bank of...