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Daily Business News Brief | Monday, April  4th, 2022.


NGX Fixed Income Market Cap Hits N21.43trn amidst Uncertainty – Thisday

Despite uncertainty in the global economy coupled with the weak macroeconomic challenges in Nigeria, the market capitalisation of the Nigerian Exchange Limited (NGX) Fixed Income rose to N21.43 trillion at the close of transactions in March 2022.  Analysts had expressed worry that the uncertainty in the global economy would have a negative impact on the capital market. ………………read more

Zenith, Access Bank, Others Sustain NPL Ratio Below CBN’s Requirement – Punch

With the banking sector Non-Performing Loan (NPL) closing 2021 at 4.85 per cent, the likes of Zenith Bank Plc, Access bank Plc, United Bank for Africa Plc (UBA), among others have maintained a ratio below the Central Bank of Nigeria (CBN) regulatory requirement. …………… read more

External Reserves’ Drops by $971.4m in Q1 amid 49% Gain in Crude Oil Price – Thisday

Amidst 49 per cent rally in crude oil price, Nigeria’s external reserve dropped by $971.4 million in the first quarter of 2022 (Q1),  the Central Bank of Nigeria (CBN) data on daily reserves’ movement has revealed ………………..read more

CBN imposes heavy sanctions on banks over mutilated notes – Vanguard

The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks to stop including composed currency notes in their deposits or risk paying a penalty of 400 per cent of the value of the banknote. Composed banknotes are mutilated currency notes that comprise several parts of different banknotes of the same denomination………………….read more

Food imports exceed exports by N2.23tn in 12 months -Daily Independent

The total international trade in agricultural goods in the country stood at N3.24tn in 2021, with the import value exceeding export value by N2.23tn, findings have revealed.  Despite interventions by the Federal Government to diversify the economy and increase food production in the country, security concerns have driven a lot of farmers out of their livelihood.  Figures obtained from the National Bureau of Statistics revealed that while Nigerian farmers exported goods worth N127.2bn in the first quarter of 2021, the country imported N630.2bn goods…………………….read more

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