Banks’ Non-performing Loans Now N1.17trn – NBS         Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the National Bureau of Statistics have shown. According to figures obtained from the NBS’ latest Selected Banking Sector Data Report on Sunday, the...

Forex Interventions Give False Hope On Naira - IMF         Regular foreign exchange (forex) interventions in Nigeria and other emerging economies create false sense of security and hope on the local currency, the International Monetary Fund (IMF), has warned. Nigeria, which operates a flexible exchange rate regime,...

N25.06bn Paid To Retirees In 18 Months – Lagos Govt         The Lagos State Government has said it paid N25.06bn to 5,819 retirees in the state in the last 18 months. The Lagos State Governor, Babajide Sanwo-Olu, disclosed this during the 81st retirement bond certificate presentation ceremony...

Customs Impound 113 Prohibited Goods Valued N107.67m         The Joint Border Operation Drill set up by the Federal Government to police Nigeria’s borders covering four states in the North Central has said that it made 113 seizures of prohibited goods with a total value of N107.67m...

Naira In Mixed Performance As Forex Reserves Decline by $198m         The naira recorded a modest appreciation at the official window but was flat at the parallel market as Nigeria’s foreign exchange (forex) reserves dropped by $197.84 million to $35.01 billion at the weekend. The naira appreciated...

Recession: Nigeria In Need Of Expansionary Economic Policy By Abdulhaleem Ishaq Ringim         Recession is a function of a country’s Gross Domestic Product(GDP); which is defined as the cumulative value of all finished goods produced and services rendered in a country within a year(although usually calculated quarterly). The...