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...

Banks’ Non-performing Loans Fall Below 5%, First Time In 10 Years   The Central Bank of Nigeria (CBN) has stated that for the first time in about a decade, the non-performing loans (NPLs) levels of commercial banks in Nigeria has fallen below the regulatory benchmark of...

Net Forex Inflow Drops By 30% To $2.69bn As Outflow Rose By 53%   The members of the Central Bank of Nigeria’s, CBN, Monetary Policy Committee, MPC, have called on the apex bank to carry out a comprehensive review of the foreign exchange market operations in...

Banking Industry Credit Rises to N23.5trn   The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79 trillion, representing 10.62 per...

Nigeria’s Economic Growth Still Fragile, Despite 4.03% GDP – CBN   A member of the Monetary Policy Committee of the Central Bank of Nigeria, Adamu Lametek, has said the Federal Government should continue to focus on the country economic growth as it remains fragile. Lametek, who is...

Manufacturing Index Expands to 47.3 points, Still Below Positive Zone — CBN   The Central Bank of Nigeria, CBN, said the economy has recorded slight expansion Month-on-Month, MoM, in October 2021 as the Manufacturing Purchasing Managers Index (PMI) rose to 47.3 index points, as against 46.6...