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Daily Business News Brief | Thursday, March 17th,  2022.


Banks’ total assets rose by N8.25tn in 2021 –  Thisday

Nigerian banks’ total assets rose by N8.25tn to N59.24tn as of the end of 2021. The nation’s lenders’ total assets had hit 50.99tn as of the end of 2020.  The Central Bank of Nigeria disclosed this in the personal statements of members of the Monetary Policy Committee.  According to the CBN, a member of the MPC, Kingsley Obiora, said, “The banking system continued to sustain its soundness, safety, and resilience amid economic recovery.  “The total asset of the banking industry increased from N50.99tn from end-December 2020 to N59.24tn, representing an increase of 16.18 per cent, driven by balances with CBN/banks, OMO bills, and credits.”……………….read more

NUPENG cries out as cooking gas price rises again – Vanguard

The Liquefied Petroleum Gas Retailers Branch of the Nigeria Union of Petroleum and Natural Gas workers on Wednesday raised the alarm over the recent rise in price of Liquefied Petroleum Gas, popularly called cooking gas. It said the cost of the commodity had been on the increase in the last two weeks and urged the government to intervene considering the current energy crisis in Nigeria as seen in the drop in power supply and petrol scarcity……………… read more

Nigeria refused to save $342m from debt service suspension in 2021’- Punch

The World Bank says Nigeria could have saved about $342.1m from January to December 2021 through the debt service suspension initiative.  It disclosed this in a brief on Debt Service Suspension Initiative updated this month by the bank on its website.  Under the DSSI, official creditors commit to suspending payments of all principal and interest within a stipulated period of time……………. read more

Ecobank Board Proposes $40m as Dividend for 2021 FY – Thisday

The Board of Ecobank Transnational Incorporated (ETI) has proposed $0.16 cent per share, totalling $40 million as dividend for the year ended December 31, 2021.   The Company Secretary, ETI, Madibinet Cisse, in a statement said: “We are pleased to inform our shareholders and the public that the Board of ETI, at its meeting of February 25, 2022, approved the Ecobank consolidated audited accounts for the year ended December 31, 2021 subject to relevant regulatory approvals……………. read more

Banks Temporarily Suspend, Reviews International Transaction of Naira Cards – Daily Independent

The Consumer Price Index rose to 15.7 per cent in February from 15.6 per cent in January, latest figures from the National Bureau of Statistics have revealed.  The NBS disclosed this in its ‘Consumer Price Index February 2022’ report on Tuesday.  According to the NBS, the highest increases were recorded in prices of gas, liquid fuel, wine, tobacco, spirit, narcotics, solid fuels, among others……………………read more

SEC Seals Oxford International, 2 Other Firms for Alleged Illegal Capital Market Activities- Thisday

The Securities and Exchange Commission (SEC) has sealed the premises of Oxford International Group/Oxford Commercial Services, Farmforte Agro-Allied Solutions Limited/Agro Partnerships as well as Vektr Capital Investment/Vektr Enterprise for illegally engaging in capital market activities…….read more

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