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Sales of Crude Oil Rise by 46% to N21tn – NBS

Sales of Crude Oil Rise by 46% to N21tn - NBS Nigeria’s crude oil sales rose by 46.41 per cent to push Nigeria’s total export to N26.79tn in 2022. This is as total trade rose by 31.79 per cent from N39.75tn in 2021 to N52.39tn in...

CBN Loans Banks N595.34bn in Two Months  

CBN Loans Banks N595.34bn in Two Months   The Central Bank of Nigeria monthly economic report has revealed that banks borrowed N595.34bn from the CBN between January and February. The report showed that while N333.59bn was borrowed through the Standing Lending Facility in January, the amount reduced...

Banks Begin N6.98 USSD Charge, Customers Kick

Banks Begin N6.98 USSD Charge, Customers Kick       Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions. However, experts have said that excessive charges by banks could pose a threat to financial inclusion. According to them, it will increase cash...

Experts Fault Naira Devaluation, Say Poverty Level Will Rise

Experts Fault Naira Devaluation, Say Poverty Level Will Rise       Against the backdrop of the recent devaluation of the naira by the Central Bank of Nigeria, economic and financial experts have said the poverty level in the country will increase. The Economic Confidential had reported on Wednesday...

CBN Extends Naira-4-dollar Deadline To Boost Remittances

CBN Extends Naira-4-dollar Deadline To Boost Remittances       The Central Bank of Nigeria has extended indefinitely its ‘Naira 4 dollar scheme’ earlier scheduled to end on May 8, 2021. It disclosed this on Thursday in a circular to all Deposit Money Banks, International Money Transfer Operators and...

MPC: Experts Expect No Rise In Interest Rate

MPC: Experts Expect No Rise In Interest Rate         Financial experts have said they expect the lending rate to either be retained or reduced at the end of the meeting of the Monetary Policy Committee of the Central Bank of Nigeria on Tuesday. The members of the...