In Seven Months, Cash-strapped Banks Borrowed N9.17trn From CBN   Deposit Money Banks and merchant banks have borrowed the sum of N9.17tn from the Central Bank of Nigeria through its Standing Lending Facility window within a period of seven months, according to figures obtained from the...

In Six Years, CBN Invested Over N1trn On Farmers – Emefiele   The Central Bank of Nigeria (CBN) has empowered at least 4,489,786 farmers through intervention financing, leveraging its flagship programme, the Anchor Borrowers’ Programme (ABP). The CBN Governor Mr. Godwin Emefiele, disclosed, on Tuesday, this at...

Finance, Insurance Firms Boost Services Sector Growth – CBN   The services sector recorded slight growth in the third quarter of 2021, buoyed by the improved performances of the finance and insurance sectors, according to the Central Bank of Nigeria. The CBN, in its 2021 third-quarter economic...

Consumer Loans Rise By 37%, Now N2trn   The upward trend in consumer loans persisted as at October last year, rising 37 per cent, year-on-year, YoY, to N2 trillion, driven by improved credit appraisal and products diversifications offered by banks and other lenders. Volume of consumer...

Naira Declines Amid Devaluation Concerns   The Naira depreciated at the official and parallel markets amid growing concerns that oil revenue fluctuation and global monetary tightening would lead to further devaluation of the currency. Official data and trading reports showed that the Naira depreciated by 0.12 per...

Foreign Inflows Drop By 32%, UK, Others Slash Nigeria Investments   The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September. The CBN disclosed these figures in its latest...