… as banks’ credit to govt increases By Peter Egwuatu Money supply to Nigeria’s economy has significantly surged to a record N117.8 trillion in two years, amid growing banks’ credit to the government. Vanguard findings from the data released by the Central Bank of Nigeria, CBN, shows that money supply, M3 grew by 75.9% to N117.783 trillion […]

By Peter Egwuatu The  Securities and Exchange Commission (SEC) has urged financial sector stakeholders to strengthen and sustain a culture of proactive compliance to safeguard Nigeria’s position in the global financial system following its recent exit from the Financial Action Task Force (FATF) Grey List. Speaking at the Nigerian Capital Market Institute Compliance Summit on Monday, Dr. […]

•Targets mid-2026 for final decision on refineries By Obas Esiedesa, Abuja Nigerian National Petroleum Company Limited, NNPCL, has declared a profit after tax of N5.4 trillion for the 2024 financial year, a growth of 63.6 percent when compared to N3.3 trillion recorded in the previous year.   The company’s revenue also grew to N45.07 trillion from N23.9 trillion […]

By Babajide Komolafe The Central Bank of Nigeria (CBN) is working on a policy that would impose a five-year ban on ‘serial dud cheque issuers’. Under the proposed penalty clause a customer is designated ‘serial dud cheque issuer’ when he/ she issues cheques three times and they are not honoured due to insufficient funds. The CBN announced […]

“For them now to draw up individual contracts for the companies and force it down on them is quite unfortunate. he GenCos have again rejected it”