ASSETS & FINANCIALS

The World Bank has retained Nigeria alongside Afghanistan, Somalia, South Sudan and Yemeh as hotspots of global food security concerns, raising a red flag on the governments’ capacity to weather the storm. It is not the first time Nigeria would …

The Asset Management Corporation of Nigeria on Thursday said the Court of Appeal, Lagos State Division, has dismissed an appeal brought before it by the Chairman of Global Fleet Group, Jimoh Ibrahim. It said Ibrahim was challenging the seizure of …

  The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria. The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN …

The total value of foreign trade has declined by N2.55tn as Nigeria recorded lower exports within a year, according to findings by media. The new Foreign Trade Statistics Report by the National Bureau of Statistics showed that the total value …

  Nigeria’s total debt in seven years outweighed the revenue generated by the Federal Government by N13.26tn, according to findings by media. The findings were based on data from the Central Bank of Nigeria and the Debt Management Office. Media …

The National Bureau of Statistics has disclosed that household final consumption grew by -12.47 per cent in the fourth quarter of 2022 compared to the 7.30 per cent growth rate of Q4 2021. This disclosure was contained in the new …

The insurance sector’s growth fell by 7.25 per cent in the first quarter of 2023, the latest figures obtained from the National Bureau of Statistics have revealed. The NBS disclosed in its ‘Nigeria Gross Domestic Product Q1, 2023’ that the …

The level of domestic transactions on the Nigerian Exchange Limited has dropped by 45.30 per cent in 16 years, from N3.556tn in 2007 to N1.945tn in 2022. This was revealed in a report issued by the NGX chronicling activities on …

The Federal Government borrowed N6.07tn from the Central Bank of Nigeria through Ways and Means Advances in 2022, according to recent data from the apex bank. This pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 …

  The former Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the public debts remain sustainable as the country has adequate capacity to repay its debts. While speaking at her valedictory ceremony in Abuja, Ahmed said, …

By  Babajide Okeowo After Nigeria’s Inflation rate hit a 17-year high in April, the policy-setting committee of the Central Bank of Nigeria (CBN), Wednesday raised the Monetary Policy Rate (MPR), which measures interest rate by 50 basis points to 18.50% …

The Central Bank of Nigeria has revoked the licences of 179 microfinance banks in the country, as well as four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was …

The Nigerian Exchange Limited saw mixed sentiments on the trading floor this past week, which resulted in a  gain of N15bn for investors. Trading activities opened on a positive note at the start of the week but dipped on Thursday …

The International Monetary Fund has disclosed that 98.5 per cent of eNaira wallets have been unused one year after the launch of the central bank digital currency. This disclosure was contained in a report titled, ‘Nigeria’s eNaira, One Year After.’ …

  The combined bank lending to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas industry was N6.62tn as of December 2022, according to data from the Central Bank of Nigeria. While operators in …

  The Federal Government, through the Ministry of Foreign Affairs, has urged exporting manufacturers to key into the trade immense benefits of the ECOWAS Trade Liberalisation Scheme. The call was made at a workshop on “The unhindered market access the …

Net foreign exchange inflow into the economy fell by $2.6bn in the fourth quarter of 2022, according to the latest figure from the Central Bank of Nigeria. The banking regulator disclosed this in its fourth-quarter economic report. It stated, “Net …

  The Federation Account Allocation Committee says it shared N655.93bn among the three tiers of government in April 2023. The figure represents a decrease of N58.7bn compared to the N714.63bn shared in March 2023. FAAC disclosed this in a communiqué …

Telecommunication operators may soon begin to charge bank customers’ airtime or data for Unstructured Supplementary Service Data transactions, media has learnt. This was due to a proposal from a Central Bank of Nigeria-led stakeholders’ forum organized to resolve the lingering …

Nigeria’s inflation rate increased for the fourth consecutive month this year to 22.22 per cent in April from the 22.04 per cent recorded in March. This is according to the Commodity Price Index report published on Monday by the National …