CBN Extends AGSMEIS Loans To 14,638 Applicants       The Central Bank of Nigeria has said it is extending its Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) loans to 14,638 applicants in August. In a communiqué from the last MPC report, it stated, “The Agri-Business/Small and Medium Enterprise...

Foreign Reserves Rise By $70m In One Week     The country’s foreign reserves rose by $70m from $35.59bn as of August 20 to $35.66bn on August 27, the latest figures from the Central Bank of Nigeria have shown. The reserves had earlier dropped by $278.91m from $35.87bn...

MPC Approves CBN’s N15trn Infrastructure Firm     The Monetary Policy Committee (MPC) has okayed the Central Bank of Nigeria (CBN)-led N15 trillion five-year Infrastructure Development Company meant to deepen economic development. The MPC also lauded the Federal Government for the approval to establish Infrastructure Development Company, which...

Foreign Reserves Drop By $544.94m In Six Weeks       The country’s foreign reserves fell by $544.94m from $36.17bn on July 1 to $35.62bn on August 13, the latest figures from the Central Bank of Nigeria have shown. The CBN had said during the last Monetary Policy Committee...

Banks’ Total Assets Rise To N47.82trn     The total assets of the banking sector rose to N47.82tn as of the end of June. A member of the Monetary Policy Committee of the Central Bank of Nigeria, Dr Rafindadi Sanusi, disclosed this during the last MPC meeting in...

CBN Retains Interest Rate At 12.5%     The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has held the Monetary Policy Rate (MPR) constant at 12.5%. This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting...