CBN Moves To Deepen Payment System Via e-Naira   The Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has said central banks across Africa and other parts of the world are trying to study Nigeria’s eNaira project. Emefiele said this on Monday during an...

How FG Spent N41.9 Billion On Debt Servicing In January The Central Bank of Nigeria (CBN) new data has revealed that Nigeria’s monthly debt servicing increased by $31.46 million in one month to $101.29 million in January, which is about 45 per cent jump month-on-month. As...

In Eight Days, External Reserves Drop By $196m   Nigeria’s external reserves drop by $196m in eight days to $39.62bn as of April 28, according to figures obtained from the Central Bank of Nigeria. The CBN revealed that the reserves, which had earlier gained $243.83m in 19...

Credit To Govt Rises By 22.5% To N16.3trn In Q1, 2022   In apparent reflection of increased borrowing activities of the federal and state governments, credit to the government rose by N3 trillion or 22.5 per cent, quarter-on-quarter (QoQ) to N16.3 trillion in Q1’22 from N13.3...

Ten Banks Earned N1.57trn Interest Income In 2021   Ten Deposit Money Banks in Nigeria earned a total of N1.57tn in net interest income last year, up from N1.49tn as of December 31, 2020. They are Union Bank Plc, Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema...

Economic Crisis Worsens As Forex Inflows Drop By $9.58bn   Foreign exchange inflows into the economy declined in the fourth quarter of 2021, owing to lower receipts from the Central Bank of Nigeria and autonomous sources. This is an indication of a worsening crisis for a forex-strapped...