ASSETS & FINANCIALS

  The Federal Competition and Consumer Protection Commission has approved 173 digital lending applications to operate in the country. Of the 173, 119 have full approvals and 54 have conditional approvals. After loan apps started harassing Nigerians, the FCCPC began …

  Federal Government’s borrowing from China has grown by 209.15 per cent under the Major General Muhammadu Buhari (retd.) administration. This is as total bilateral loans rose by 219.91 per cent from $1.58bn as of June 2015 to $5.07bn as …

  The 36 states in Nigeria shared a total of about N9.3tn as federal allocation between June 2019 and December 2022, a period of 43 months, which formed the bulk of the second tenure of the President, Major General Muhammadu …

  The country’s external reserves fell by $1.46bn between January and March, figures obtained from the Central Bank of Nigeria have revealed. The reserves ended February 27, 2023 at $36.67bn. Figures obtained from the CBN’s data on movement of external …

The Debt Management Office, on Thursday, revealed that Nigeria’s total public debt stock increased to N46.25tn or $103.11bn in the fourth quarter of 2022. The latest figure has made members of the organised private sector and economists to predict that …

N’Assembly extends 2022 budget implementation to June The House of Representatives, on Tuesday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank. This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan …

The Nigerian Exchange Limited on Tuesday witnessed a further drop in market indices by 1.2 per cent, amid sustained negative investment sentiments. Specifically, the NGX All-Share Index dropped 626.14 points or 1.2 per cent to close at 53,124.63 compared with …

Banks’ credits to the government rose by N3.77tn in the first two months of 2023. Figures obtained from the Central Bank of Nigeria revealed that the total government credit which ended December 2022 at N24.66tn rose to N28.43tn as of …

Mobile subscriptions have risen by 4.61 million to hit 226.84 million in 2022, according to new industry statistics from the Nigerian Communications Commission. This follows the trend of sustained growth in the telecommunications sector that has been recorded since 2022. …

Deposit Money Banks are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according to multiple bank officials. The move, it was learnt, would help bank branches to tackle lingering queues in some cities …

  Women entrepreneurs across Africa have continued to suffer insufficient funds with an estimated $42b financing gap that has crippled their noble business ideas. The President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, who disclosed this at …

The bears resurfaced on the equities sector of the Nigerian Exchange Limited (NGX), halting two days of consecutive rally, as market capitalisation declined further by N6 billion. At the close of transactions yesterday, the All-Share Index declined by 12.03 per …

•Banks’ staff culpability rises, threatens entire ecosystem •FITC recommends increased sensitisation of bank workers About N3.62 billion fraud have been perpetrated through the Automated Teller Machines (ATMs); Point of Sales (PoS) machines, mobile and other electronic channels and cash as …

• Emefiele to supervise compliance • Denies suspending accounts of Fintech Companies The governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, is expected to personally supervise and ensure that banks’ doors are opened to customers today (Saturday) …

  The Lagos Chamber of Commerce and Industry has called on the Central Bank of Nigeria to explore viable options to tackle the country’s surging inflation as the frequent interest rate hikes were not producing the desired result. The chamber …

The House of Representatives has urged the Central Bank of Nigeria to direct banks to immediately revamp their electronic transaction platforms. According to the House, the move has become necessary in the aftermath of the recent CBN policies, which have …

The Central Bank of Nigeria has finally concluded plans to release all N1,000, N500 and N200 notes in its custody to Deposit Money Banks, The media can report authoritatively. This decision is expected to end months of hardships and pains …

  The Federal Government has announced the removal of its proposed five per cent excise duty on telecommunication services. The government announced that this was in line with the recommendations of a committee, the Presidential Review Committee on Excise Duty …

Economists have faulted the Monetary Policy Committee of the Central Bank of Nigeria over its decision to increase the benchmark interest rate by 50 basis points to 18 per cent from 17.5 per cent. The experts spoke in reaction to …

Agriculture in Nigeria has an interesting history of ups and downs. Long before the discovery of oil and gas in commercial quantity, from the precolonial and colonial days to the First Republic, agriculture was the mainstay of the economy. But …