Banks Borrowing From CBN Increase By 174% To N2.4trn     In apparent reflection of the intense scarcity of funds that prevailed in the interbank money market in April, banks’ borrowing from the Central Bank of Nigeria (CBN) rose by 174 per cent to N2.48 trillion from...

CBN Guarantees N2.4bn Loans For 14,000 Osun Farmers       The Osogbo Branch of Central Bank of Nigeria on Wednesday said it had guaranteed loans running into N2.4bn for over 14,000 farmers since the branch commenced operations in the state. The CBN Osogbo Branch Controller, Mrs Ajuma Madojemu,...

FG, International Partners Plan $1bn Loan Support For MSMEs       The Bank of Industry under the supervision of the Federal Ministry of Industry, Trade and Investment has concluded a $1bn syndicated term loan in conjunction with international partners to support Micro, Small and Medium Scale Enterprises...

CBN Restructures Loans, Grants Another 12-month Extension       The Central Bank of Nigeria has given another 12-month extension on the discounted interest rate for its intervention facilities. It said that the role-over of the moratorium on the facilities would be considered on a case by case basis It...

Analysts Predict 8% Loan Growth For Banks In 2021       Analysts at CSL Stockbrokers Limited have predicted an eight per cent loan growth for the Nigerian banking sector in 2021. The Lagos-based firm stated this in a report on its 2021 outlook titled: “Surviving Amidst Uncertainties.” The firm...

FG Borrowed N3.2trn Through T-Bills In 2020       The Federal Government borrowed N3.2 trillion from the investing public through treasury bills, T-Bills, in 2020, while it paid N253 billion as interest on TB borrowings from January to September 2020. This represents marginal increase of 1.9 percent, year-on-year,...