Nigerian banks’ total assets rose by N8.25tn to N59.24tn as of the end of 2021. The Central Bank of Nigeria disclosed this in the personal statements of members of the Monetary Policy Committee. A member of...
The Central Bank of Nigeria has stated that banking industry credit in 2021 reached N 23.5 trillion with Other Financial Institutions (OFIs); comprising of Microfinance Banks, Development Banks, Merchant banks and mortgage banks contributing N2.79...
Attention shifted from announcement of new monetary rates to the forex market yesterday as the CBN continued its struggle to achieve a balance. What looks like a simple case of demand and supply has been...
The Central Bank of Nigeria (CBN) has said its proposed digital currency, known as e-Naira, will be treated as a critical national infrastructure to protect it from operational and cyber-security risks. In a document which offered...
For once in a longwhile, announcement of the Central Bank of Nigeria (CBN) Monetary Policy Committee’s interest rates after its two-day meeting was overshadowed by another news item – the suspension of foreign exchange (FX)...
The Central Bank of Nigeria (CBN) has made a case for private sector funding to redress the country’s 22 million housing gap. In a statement on the bank’s website, Deputy Governor (Economic Policy) of the CBN,...
The Central Bank of Nigeria (CBN) says a total of N2.04 billion has been disbursed to 7,075 beneficiaries under the National Youth Investment Fund (NYIF). The CBN announced this in a communique issued at the end...
The Nigerian National Petroleum Corporation (NNPC) has signed the execution of Oil Mining Lease (OML) 118 (Bonga) with contractor parties. The parties include: Shell Nigeria, Exxon Mobil, Total Nigeria, among others. By these Agreements, the NNPC group...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) said it again voted to retain the monetary policy rate at 11.5 percent. Central Bank of Nigeria Governor Godwin Emefiele announced the retention during a...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria voted to retain the Monetary Policy Rate (MPR) at 11.5% to fight inflation at its meeting on Tuesday. It also retained the asymmetric corridor of...