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Daily Archives: November 1, 2019

CBN’s T-bills auction oversubscribed by N433.06bn

Banks’ Total Assets Rise 11.2% To N42 Trillion

The Central Bank of Nigeria has recorded a N433.06bn (327 per cent) oversubscription in its Treasury Bills auction, which took place on Wednesday. The CBN offered N132.56bn worth of treasury bills in a Dutch auction across the 91-day, 182-day and ...

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Fear mounts over rising gas refilling shops

DPR Expresses Concern Over Illegal Marketing Of Cooking Gas

As more households shift away from kerosene to cooking gas, residents of many communities in Lagos and Ogun are now living in fear as several gas shops have sprung up, retailing the product with little or no regard for fire ...

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Deepwater royalty: Nigeria may lose $15bn, say IOCs

Reduce $57 budget oil benchmark, MPC tells FG

International oil companies and their local counterparts under the aegis of the Oil Producers Trade Section have said the Federal Government’s planned increase in deepwater royalty will worsen Nigeria’s competitiveness and make its $15bn planned deepwater investments economically unviable. The ...

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Foreign reserves fall by $1.26bn in four weeks

CBN forecasts slower growth, reduces lending rate to 12.5%

Nigeria’s foreign reserves fell by $1.26bn from $41.76bn in October 2 to $40.5bn as of the end of October 30, according to figures from the Central Bank of Nigeria on Thursday. The reserves which had continued to shed in recent ...

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