Nine Banks Total Assets Reached N56.4trn in 2021 on Hike in Loans, Deposits- Thisday
With the growth recorded in loans & advances and customers’ deposit reaching a new high, a total of nine banks operating in Nigeria reported total assets of N56.4 trillion in the 2021 financial year. This represents an increase of 16.4 per cent over the N48.5 trillion reported in 2020 ………………..read more
FG incurs N950bn new domestic borrowing in Q1 2022 – DMO – Vanguard
THE Federal Government has incurred N950bn new domestic borrowing between January 2022 and March 11, 2022, the Debt Management Office has revealed. The fresh borrowing was disclosed on March 17 in the presentation of the Public Debt Data as of December 31, 2021, by the Director-General of the DMO, Patience Oniha. In the document, Oniha disclosed that the Federal Government was considering all options to raise funds externally………………. read more
Nigeria borrowed N6.64tn, serviced debt with N2.93tn in 2021, says DMO – 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
Queues persist in northern states despite 1.824 billion litres fuel supply- Punch
The queues by motorists for Premium Motor Spirit, popularly called petrol, particularly in Abuja and northern states have refused to clear despite the supply of about 1.824 billion litres of PMS by the Nigerian National Petroleum Company Limited. Also, the NNPC on Sunday denied claims that it had reviewed the ex-coastal, ex-depot and the NNPC Retail prices for petrol downward. It described the claims as fake news, in a series of tweets via its official Twitter handle…………….read more
How Commodities Ecosystem Can Drive CBN’s RT 200 FX Policy – Daily Independent
Bankers and other operators in the Nigerian financial market have identified deployment of commodities ecosystem as a potent method by which the Central Bank of Nigeria (CBN) can achieve the plan to generate $200 billion in the next three to five years through its RT 200 FX policy ……………………read more