Banks Record N1.21trn Non-performing Loans   The total non-performing loans in the banking sector hit N1.21tn as of the end of February 2022, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN stated in reports obtained from the Monetary Policy Committee that the...

Re-Strategizing To Save Economy From Dollarisation There are indications that the CBN is considering renewal of its forex containment measures ahead of the 2023 elections to shield the local currency from further devaluation as apex bank is re-strategizing to align with its policy in 2015...

CBN Retains 5% Interest Rate For Critical Sectors   Sequel to its development finance initiative, the Central Bank of Nigeria (CBN) has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. The decision followed the resolution...

Nigeria’s Private Sector Receives N1.18tn New Loans in Q1 2022 The Nigerian banking sector has been encouraged by the Central Bank Of Nigeria to continue injecting funds into the real sector of the economy in order to promote growth and ensure recovery from the recession...

Senate Confirms CBN’s Monetary Policy Committee Members   The Senate, on Wednesday, confirmed the nominations of seven members of the Monetary Policy Committee of the Central Bank of Nigeria (CBN). The confirmation of the nominees followed the consideration of a report by the Committee on Banking, Insurance...

CBN Retains Monetary Policy Rate At 11.5 Percent   The Monetary Policy Committee (MPC) has decided by a vote of six members against four to retain all monetary instruments around the Monetary Policy Rate at 11.5 per cent. The apex bank held the asymmetric corridor of +100/-700...