CBN’s lending to banks rises 466 % to N268bn
Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at October 2022 reflecting the increase in currency outside banks.
Afreximbank grows assets to $19bn
By Emma Ujah, Abuja Bureau Chief African Export-Import Bank (Afreximbank) grew its total assets to $19.33 billion as at 30 September 2020, up 34% from $14.44 billion as at the end of last year. This was contained in the bank’s unaudited financial statements released on Monday with an explanation that the result was achieved primarily […]
Manufacturing PMI records expansion after six months contraction
The Manufacturing Purchasing Managers’ Index (PMI) for November 2020 recorded expansion after six consecutive months of contractions (May to October 2020).
NDIC, CBN battle safety issues in Nigeria’s fintech environment
The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it will adopt financial technology (fintech) solutions and tools to modernize its data collection and analysis processes amidst emerging safety issues surrounding application of technology in the nation’s financial system.
Banks divert loans to public sector
In apparent demonstration of low confidence in the economy, banks are focusing their lendings to the public sector to the detriment of the private sector.
FCMB becomes “Best SME Bank in Africa”
First City Monument Bank (FCMB), has been awarded the best Small and Medium Scale Enterprise (SME) bank in Africa thereby positioning the bank as the dominant financial institution in the segment.
BAD LOANS: Banks reduce consumer credits by 11%
By Babajide Komolafe MONEY MARKET Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was prompted by the impact of the COVID-19 pandemic as well as […]
Banks’ borrowings from CBN crashes by 93%
Deposit Money Banks’ reliance on the loans from the Central Bank of Nigeria (CBN) fell sharply by 93 percent in August, driven by surge in idle cash (excess liquidity) in the interbank money market.
Talks still ongoing over Pan Ocean’s N240bn debt, AMCON clarifies
The Asset Management Corporation of Nigeria, AMCON, yesterday, said that it is yet to finalise an ‘out-of-court settlement’ with the management of Pan Ocean Group, over the latter’s N240 indebtedness.
WTO: FG moves to counter US position on Okonjo-Iweala
As the world awaits the outcome of the final consensus decision on the next World Trade Organisation, WTO, there are indications that Nigerian government may have started diplomatic actions to head-off opposition from the United States of America, USA, against the emergence of Nigeria’s Okonjo-Iweala for the job.
WTO: FG moves to counter US position against Okonjo-Iweala
MONEY MARKET By Yinka Kolawole, with agency report As the world awaits the outcome of the final consensus decision on the next World Trade Organisation, WTO, there are indications that Nigerian government may have started diplomatic actions to head-off opposition from the United States of America, USA, against the emergence of Nigeria’s Okonjo-Iweala for […]
