Commercial Loans To Govt Hit N13.7trn    Commercial loans to Nigeria’s public sector rose from a moderate N4.88 trillion to N13.73 trillion in five years (from December 2016 to the end last year), raising concern about the increasing exposure of banks to the government. The leap –...

In Seven Months, Cash-strapped Banks Borrowed N9.17trn From CBN   Deposit Money Banks and merchant banks have borrowed the sum of N9.17tn from the Central Bank of Nigeria through its Standing Lending Facility window within a period of seven months, according to figures obtained from the...

With N4.56trn Encumbrances, NNPC To Shed Toxic Liabilities In 2022 - Kyari   Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has said with the implementation of the Petroleum Industry Act (PIA), the company will do away with a major...

Insurance Firms’ Assets Hit N2.09trn Amidst Recapitalisation Suspension     The insurance sector’s total assets have risen by N228.24bn in 15 months despite the abrupt suspension of the National Insurance Commission’s segmented recapitalisation exercise. The second and final phases of the Nigerian insurance industry’s recapitalisation exercise which should...

Stock Market Gains N1.33trn In First Trading Week   The Nigerian Exchange Limited (NGX) kicked off the first trading week of 2022 on a positive note as its market capitalisation gained N1.33 trillion. This followed foreign investors’ and high net worth investors’ demand for Airtel Africa...

Fed Govt Loses N1.474trn To 222 Terminal Shutdowns In 10 Months   The production of 50.788 million barrels of crude oil valued at N1.474tn was stalled between January and October last year due to community interferences and other challenges forcing oil terminals to shut down production...