Telcos Disagree With CBN, Push To Lead Mobile Money Services       Stakeholders in the telecommunication sector have said mobile money services should be driven by telecoms companies, a position that runs contrary to that of the Central Bank of Nigeria. In its recently released ‘Regulatory Framework for...

External Reserves Decline By $180m In Two Weeks       The country’s external reserves lost $180m in two weeks, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. According to the figures, the reserves, which stood at $33.28bn on July 1, dropped to $33.09bn...

Power Firms Still Unable To Deliver Despite N1.5trn Funding       The power firms, mostly private entities, may have gotten about N1.5 trillion funds from the Central Bank of Nigeria (CBN) in the past seven years, helping the sector stay afloat. However, experts and power consumers are worried...

Banks’ Total Assets Rise By N6.97trn In A Year       The total assets in the banking sector rose by N6.97tn between April 2020 and April 2021, according to the Central Bank of Nigeria. Despite the effect of the COVID-19 pandemic, the assets rose from N46.2tn to N53.17tn...

N15trn Infrastructure Company'll Begin Operations In Q3, 2021 - CBN       The N15tn Infrastructure Corporation of Nigeria will begin operations in the third quarter of this year, the Central Bank of Nigeria announced on Tuesday. CBN Governor, Godwin Emefiele, who announced this during an investors’ webinar organised...

Travel Agents Lament Naira Devaluation     Some travel agents have bewailed the recent increase in the naira-dollar exchange rate, saying the travel industry is yet to recover from the impact of the COVID-19 pandemic. The Central Bank of Nigeria had in May devalued the naira as it...