ASSETS & FINANCIALS

  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 …

  The Federal Government, on Monday, said it was developing a comprehensive guide for the incoming administration of Bola Tinubu, on how to manage the removal of subsidy on Premium Motor Spirit, popularly called petrol. It also insisted that the …

  Stocks investors lost N136bn at the end of trading last week on the Nigerian Exchange Limited. Suffering a dip which saw mixed sentiments was the All-Share Index, which depreciated by 0.48 per cent or 250.69 base points to close …

The assets under the Contributory Pension Scheme rose by N590bn in the first quarter of 2023, figures from the National Pension Commission have revealed. The figures disclosed that the assets rose from N14.99tn as of the end of December 2022 …

  The National Pension Commission has listed 26 commercial banks by the Central Bank of Nigeria as its approved mortgage lenders. It also listed three non-interest banks to provide residential and commercial mortgage to workers under the Contributory Pension Scheme …

The Securities and Exchange Commission has said that the safety of investors and their investments in the capital market is one of its reasons for initiating the regulatory incubation programme for fintechs. This was stated by the Director, Registration, Exchanges, …

  The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the banking sector was committed to expanding foreign exchange supply in the country. He noted that the RT200 programme had made good progress in export proceed repatriation …

The Federal Government spent $112.35m servicing external debt in January 2023, according to findings. Data from the Central Bank of Nigeria’s Weekly International Payments showed that the amount spent in January was 146.17 per cent higher than the $45.64m spent …

  The Budget Office of the Federation has said Nigeria now has a “limited borrowing space” due to its poor debt-to-revenue ratio, stressing that “trouble” looms for the country if it exceeds its limits. The Director-General of the Budget Office, …

The House of Representative, on Monday, queried the Nigerian Communications Commission over remittances and expenses from the Universal Service Provision Fund. The House had invited regulators and operators in the telecommunication sector over poor coverage and spread of their services …

The Central Bank of Nigeria has said it will sanction banks assisting the operations of unlicensed foreign firms. It stated on Monday in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’, signed by the Director, …

• Adebajo: Nigerians indirectly paying for CBN’s unregulated lending to FG through high inflation • Don’t destroy Nigeria before you leave, Afenifere, NANS, don tell Buhari, NASS Despite outrage at Wednesday’s Senate approval of President Muhammadu Buhari’s request to restructure …

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has cautioned about the unforeseeable “consequences” that could be brought about by the retail central bank digital currencies. Georgieva expressed her concern about retail CBDCs in a May 1 interview …

The Organised Private Sector of Nigeria comprising the Manufacturers Association of Nigeria, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, the Nigeria Employers’ Consultative Association, the Nigerian Association of Small Scale Industries, and the Nigerian Association of …

The shortage of the naira in recent times crippled the Nigerian economy, the United Nations has disclosed. It stated that the informal sector felt the brunt of the scarcity the most. It noted that the continuing decline of oil production …