In Three Months, 12 Nigerian Banks Lend Customers N690bn       The combined loan portfolio of 12 commercial banks in Nigeria rose by N690bn in the first three months of this year, data collated from their unaudited financial statements show. The loans and advances to their customers grew...

Solid Mineral Exporters Owe N17bn Royalties — Minister       The federal government has disclosed that solid minerals exporters have failed to remit about N17bn in royalties to her. Only 56 of the 2,670 mineral exports from Nigeria between January 2013 and June 2017 had valid mineral export...

Stocks Extend Decline As 17 Firms Record Losses       The Nigerian stock market extended its decline on Monday as 17 companies saw their share prices decline at the end of trading. Investors in the market lost N600bn last week as the market capitalisation of equities fell below...

FG Releases N5bn Aviation Bailout, Bars 22-year Aircraft From Nigeria       The Permanent Secretary, Federal Ministry of Aviation, Hassan Musa on Monday told the House of Representatives that the Federal Government had released N5bn out of the N26bn approved as COVID-19 intervention fund for the aviation...

CBN Sets New Capital Base For Payment Firms       The Central Bank of Nigeria has set new capital requirements for payment firms in the country. The CBN disclosed the capital requirements in a circular on Monday titled ‘New license requirements for the payments system’. The CBN stated that...

Senate Mulls New Bill Assigning NIPOST Stamp Duty Collection       The Senate Committee on Communications on Monday held a public hearing on two bills. One of the proposed legislation, among others, empowers the Nigerian Postal Service to collect stamp duty for the Federal Government. NIPOST and Federal Internal...