Oil Firms Borrowed N130bn From Banks In February – CBN     Operators in the downstream, natural gas and crude oil refining sectors of the Nigerian oil and gas industry borrowed N130bn from Nigerian banks in February amid the significant rise in global crude oil prices. The debt...

Foreign Reserves Gain $620m From Remittances     After gaining $620 million from diaspora remittances in two weeks, the foreign exchange reserves jumped to $35.026 billion, a data from the Central Bank of Nigeria (CBN) has shown. The accretion, the highest in over a month, has been attributed...

Currency In Circulation Hit N2.8trn In March – CBN       Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end of February, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. Currency in...

CBN Plans To Strengthen Risk Management In OFIs       The Central Bank of Nigeria (CBN) has taken moves to strengthen risk management in the financial services subsector categorized as Other Financial Institutions (OFIs), mainly mortgage banks, Finance Houses and micro-finance banks. The move is aimed at taking...

Fed Govt Recorded N485.51bn Fiscal Deficit In January – CBN       The Federal Government recorded N485.51bn fiscal deficit in January, statistics obtained from the Central Bank of Nigeria have shown. to the monthly economic report for January released by the CBN on Friday, the low revenue performance...

Forex Scarcity Cripples Local Airlines, Spike Airfares     The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity to dwindle and hitting up airfares. The Economic Confidential, yesterday, learned that operators in the aviation sector have not...