Oil, Gas Export Revenue Dipped By $2.23bn In 2020 – NNPC       The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 per cent last year amid the COVID-19 induced collapse in price and demand. Nigeria’s revenue from...

Currency In Circulation Hit N2.8trn In March – CBN       Currency in circulation rose by N29bn to N2.81tn as of the end of March from N2.78tn as of the end of February, the latest figures obtained from the Central Bank of Nigeria showed on Sunday. Currency in...

CBN Plans To Strengthen Risk Management In OFIs       The Central Bank of Nigeria (CBN) has taken moves to strengthen risk management in the financial services subsector categorized as Other Financial Institutions (OFIs), mainly mortgage banks, Finance Houses and micro-finance banks. The move is aimed at taking...

Dangote Commits $700m To Sugar Production     The management of Dangote Sugar Refinery Plc has said it is committing over $700m to its sugar projects to support the Backward Integration Policy of the Federal Government to make Nigeria self-sufficient in sugar production. According to a statement issued...

NCS Intercepts Used Vehicles, Smuggled Rice Worth N1.3bn in Q1, 2021       The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone C, has announced that it intercepted contraband and raised a debit note (DN) worth N1.3 billion in the first three months of 2021. In a...

E-payment Transactions Hit N60.34trn In Q1 — NIBSS       The value of transactions via digital payment platforms – Nigeria Interbank Settlement System Instant Payment System and Point of Sales terminals – rose to N60.34tn in in the first quarter of 2021. The two platforms recorded a 87.1...