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Daily Business News Brief |  Wednesday, March 9th,  2022.


ETI Leads as Zenith Bank, 8 Others Granted N16.68trn Loans to Customers In 2021-  Punch

A total loans & advances of N16.68 trillion was granted by Ecobank Transnational Incorporated (ETI), Zenith Bank Plc and eight other banks to their customers in 2021, representing 15.6 per cent increase over N14.42 trillion reported in the full year 2020, analysis of the banks 2021 financial year results have revealed. ……………… read more

FIRS Offers One-Month Window for Taxpayers to Settle Foreign Currency Liabilities in Naira – Vanguard

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, yesterday said taxpayers with outstanding foreign currency tax liabilities have one-month window to settle their indebtedness in Naira. …………….. read more

CBN increases currency in circulation by N418bn over cash transactions – Punch

THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December,  2021, according to figures obtained from the Central Bank of Nigeria. The CBN data showed that currency in circulation had increased by 19.06 per cent from N2.44tn recorded as of December, 2019. The CBN said in its report on currency operations that, “the growth in CIC reflected the continued dominance of cash in the economy.”……………… read more

Crude oil price: MAN warns of hyper inflation, subsidy hits N400, diesel, 625 – Thisday

The rising prices of crude since the Russia-Ukraine war began, coupled with exchange rate instability in Nigeria, among others, have pushed up the prices of refined petroleum products across the country, according to findings by The PUNCH.  Industry figures seen on Tuesday showed that the cost of Brent, the crude against which Nigeria’s oil is priced, rose above $133/barrel around 6pm Nigerian time. The commodity had traded below $90/barrel before the war in Ukraine started…………… read more

Fidelity Bank backs CBN $200bn forex policy- Thisday.

Fidelity Bank Plc has expressed commitment to supporting the Central Bank of Nigeria’s efforts to achieve $200bn in foreign exchange repatriation from non-oil exports over the next five years. A statement by the lender quoted the Executive Director, Northern Businesses, Fidelity Bank Plc, Hassan Imam, as saying this in Kano at a workshop organised for exporters and investors on the implementation and opportunities in the new CBN RT200 FX Policy……………. read more

UBA: Growth in Interest Income Drives impressive Performance- Daily Imdependent

United Bank for Africa Plc (UBA) reported a significant increase in profits on the heels of stronger growth recorded in interest income, net interest income, and operating income to post impressive 2021 financial year results.The performance, which shows the hard work put in by the board, management and staff, has been hailed by stakeholders given the challenging operating  environment. . ……………. read more

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