Banking Industry Credit Rises to N23.5trn   The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79 trillion, representing 10.62 per...

Nigeria’s Debt Vulnerable, costly - W/Bank   The World Bank has disclosed that Nigeria’s debt, which may be considered sustainable for now, is vulnerable and costly. According to the Washington-based global financial institution, the country’s debt is also at risk of becoming unsustainable in the event of...

CBN, SEC, Others To Lift Financial Sector With Fresh N1.54trn Investment     Federal Government Ministries, Departments and Agencies, especially financial services regulators are to invest N1.54tn in five years to boost liquidity in the financial services sector. According to the Federal Government National Development Plan 2021-2025, the...

Banks’ll Increase Credit To Economy In 2022 - CBN   The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the banking sector will increase access to finance and credit for households in 2022. Emefiele said this recently in Lagos, according to a statement on...

Nigeria’s Economic Growth Still Fragile, Despite 4.03% GDP – CBN   A member of the Monetary Policy Committee of the Central Bank of Nigeria, Adamu Lametek, has said the Federal Government should continue to focus on the country economic growth as it remains fragile. Lametek, who is...

Nigeria’s Inflation Rate May Be Among World’s Highest In 2022 – W/Bank   The World Bank has said Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. According to the World Bank, Nigeria is projected...