Fed Govt Revenue Drops By 52% Amid Rising Spending   The Federal Government recorded a fiscal deficit of N405.28bn in August, the Central Bank of Nigeria said in its economic report. It said the government’s aggregate expenditure was N781.61bn while retained revenue stood at N376.33bn. The report said...

Power Firms Owe Banks N820bn Amid Sector's Lingering Problems     The debt owed to Nigerian banks by operators in the power sector rose by 11.85 per cent in one year to N819.97bn in August this year amid the lingering problems plaguing the sector since it was...

Shareholders Want CBN To Pay Interest On Mandated Deposit   The Independent Shareholders Association of Nigeria (ISAN) has recommended that the Central Bank of Nigeria (CBN) pay interest on banks’ mandated deposits as a way out of the Cash Reserve Requirement (CRR) stalemate imposed on banks...

Capital Inflow Drops By 29% As COVID-19 Cases Rise     Capital inflow into the country fell from $620m in July to $440m in August over the resurgence of the COVID-19 pandemic. The Central Bank of Nigeria stated this in its monthly economic report for August titled, ‘Foreign...

Banks Resilient, Record 6.8% Profit Growth In H1, 2021     Nigerian banks recorded 6.8 per cent growth in profit in the first half of 2021 as the sector strived to remain resilient during the COVID-19 pandemic, according to a new report. Afrinvest West Africa said this in...

CBN To Give 10,000 Bauchi Farmers N5.7bn For Dry Season Farming     The Central Bank of Nigeria has set aside over N5.7bn to give as loan to 10,000 farmers to encourage dry season wheat farming in Bauchi State. The CBN Comptroller, Bauchi Branch, Saladu Idris, who disclosed...