THE maximum lending rate in the banking sector hit 29.13 per cent while savings deposit rates was 4.13 per cent as of the end of December 2022. Figures obtained from the Central Bank of Nigeria on money market indicators revealed…
THE Central Bank of Nigeria has excluded mobile money/Point of Sales agents in Abuja and Lagos from its newly launched cash swap programme, The PUNCH has learnt. The development came as the January 31 deadline for the phasing out of the…
VANTAGE Capital (), Africa’s largest mezzanine debt fund manager, announced that in December 2022 it fully exited its investment in Pétro Ivoire, the most established locally-owned distributor of petroleum and gas products in Côte d’Ivoire. The company has a leading…
BUSINESS activities were temporarily slowed down at the Jalingo main market on Saturday as the Central Bank of Nigeria (CBN) took its enlightenment campaign to the traders to enlighten the people on the importance of depositing their old Naira notes…
THE rising case of housing scams has been attributed to fake developers who only want to swindle gullible subscribers, experts in the built industry have said. This reaction is coming days after some aggrieved civil servants staged a protest over…
THE Central Bank of Nigeria has vowed to sanction any commercial bank found hoarding the new naira notes, saying it had produced enough for distribution to all the banks across the country. The CBN Kano Branch Controller, Alhaji Umar Biu,…
CONTRARY to the 2.9 per cent growth projection of the World Bank for Nigeria for 2023, analysts are optimistic of a stronger growth for the country. They however, noted that tackling the exchange rate crisis will be key step that…
THE Federal Government has said it sometimes borrows funds to buy petrol as the country continues to incur rising fuel subsidy bills. The government also confirmed that there was a possibility of global economic recession this year, but stressed that…
THE Central Bank of Nigeria injected $15.3bn into the economy to stabilise the value of the naira from January to October, 2022. This was obtained in the banking sector regulator’s monthly and quarterly economic reports on foreign exchange market developments.…
THE Central Bank of Nigeria may be under pressure to extend the deadline for old naira notes to cease being legal tender as bankers and customers push for the extension. The old notes are expected to be out of circulation…
