FG Increases SUKUK Funds to N742.56bn For Road Projects.
The Federal Government, through Debt Management Office (DMO), has raised N742.56 billion via Sovereign Sukuk for the construction and rehabilitation…
Category: Finance
Finance Minister Tells Retirees Ghana Debt Swap Deal Is Beneficial.
In an effort to complete a domestic debt exchange, the beleaguered government of Ghana in West Africa told a group…
In 2022, Migrant Workers Sent about $800 billion Home.
People in low and middle income countries depend on migrant workers money sent home, which is expected to have increased…
Reps Drop The N22.7tn Loan Proposal And Approve The Borrowing Of N1tn
The President’s requests for Ways and Means Advances from the Central Bank of Nigeria were partially accepted by the House…
IMF Forecasts 3.2% Economic Growth in Nigeria.
According to the International Monetary Fund, actions taken to alleviate insecurity in the oil sector will cause Nigeria’s economy to…
Banks’ Percentage of Consumer Loans Reaches 29.13%.
By the end of December 2022, the maximum loan rate in the banking industry was 29.13% while the return on…
Nigeria: FG Allots N1.2tn for CBN Debt Servicing.
According to research, the Federal Government intends to spend N1.2 trillion servicing the loans it received from the Central Bank…
Nigeria Introduces a Domestic Card Program in an Effort to go Cashless.
Nigeria’s central bank unveiled a domestic card program to compete with global cards like Mastercard and Visa in an effort…
Nigeria: Crisis Looms as Interest Rate Hikes.
Members of the country’s organized private sector have called the latest increase in the country’s benchmark interest rate an unfortunate…
CBN Disburses N114.17 billion Under the 100-for-100 Policy.
Since the start of the intervention, the Central Bank of Nigeria has disbursed N114.17 billion to beneficiaries under its 100-for-100…
Bank Lending to Customers Reaches 29.13%.
As of the end of December 2022, the maximum lending rate in the banking sector was 29.13 percent, while savings…
China’s Loans to Developing Nations Reached a 13-year Low in 2021.
According to a Boston University Global Development Policy Center research, Beijing’s reduction in funding for large-scale oil projects caused loans…
The IMF Says Financial Institutions are Dealing with Climate-related Shocks.
According to a new International Monetary Fund report, the effects of extreme weather conditions are harmful to the health of…
Nigeria: Kwara State Receives Projects Funding Worth N887 million from the World Bank.
According to Dr. Nusirat Elelu, executive secretary of the Kwara Health Care Development Agency, the state has acquired financing from…
Nigeria Owes China and Four Others $4.85bn
The Federal Government of Nigeria borrowed about $3.27 billion from five nations between June 30, 2015, and September 30, 2022.…
Financial Crisis: Nigeria FG Reports N14.28 trillion in Revenue Shortfall.
According to information from the Budget Office of the Federation, the Federal Government has experienced a revenue shortfall of N14.…
The CBN Enlightens Traders About the New Naira Notes.
The distribution of the new naira notes to the entire nation will be completed before the deadline of January 31,…
Nigerian Finance Minister: No Bond Sale in 2023 Due to Debt Trajectory.
The trajectory of Nigeria’s debt is manageable. The nation planned to significantly lower its key debt service-to-revenue ratio this year…
The IMF’s Executive Board Authorizes a $240 million Payment to Uganda.
According to the International Monetary Fund (IMF), two reviews of a financing agreement with Uganda were approved by the IMF…
Alleged Duty Payment Fraud is Discovered by FCCPC.
According to Babatunde Irukera, the Federal Competition and Consumer Protection Commission’s executive vice chairman and chief executive officer, some importers…
Market Value Decreases by N89.14 billion.
The market capitalization of the Nigerian Exchange Limited’s stock market decreased by N89.14 billion, signalling the start of a down…
CBN Initiates $15.3 billion to Help Bolster Naira.
To maintain the value of naira from January to October 2022, the Central Bank of Nigeria injected $15.3 billion into…
N446 billion was gained by stock investors.
Due to ongoing buying interest in the local bourse ahead of the 2022 fourth quarter financial year earnings result, stock…
Bank Borrowing from the CBN Increases by 260% to N21.87 trillion.
According to CBN financial data, Deposit Money Banks borrowed N21.87 trillion from the Central Bank of Nigeria in 2020 through…
The World Bank Lowers its Forecast for Nigeria’s Economic growth.
The World Bank Group has once more revised downward its estimate of Nigeria’s economic growth, primarily due to a weakened…
World Bank: Borrowing Costs Weakens Nigeria Fiscal Position.
According to the World Bank, Nigeria’s fiscal situation is weakened by high borrowing costs, falling energy prices, a slow increase…
Nigeria: Bank Deposits Increased by 19% to N43 trillion.
Bank deposits in Nigeria increased by N6.92 trillion from N36.13 trillion at the end of October 2021 to N43.05 trillion…
American Banks Prepare for a Recession and Declining Profits.
Despite lenders stockpiling funds for rainy days in anticipation of an economic slowdown that is wreaking havoc on investment banking,…
Inflation in the Euro Zone Drops To 9.2% as Energy Prices Stabilize.
The European Central Bank is not expected to change its stance in response to the euro zone’s inflation declining for…
Nigeria’s Debt to Hit N77tn, While Loan Servicing Will Cost N5.2tn.
Nigeria debt 2022: If the National Assembly grants the president’s request to reorganize the Ways and Means Advances, Nigeria’s public…