10 banks lend customers N2.9tn in 12 months

Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show.   The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for […]

CBN to pay 150 exporters N3.5bn rebate

The Governor of the Central Bank of Nigeria, Godwin Emefiele has ordered the immediate release of N3.5bn as a rebate to 150 exporters who participated in the Race To $200bn scheme. This was one of the outcomes of the Bankers’ Committee meeting held on Thursday. The CBN had in February disclosed that it would pay […]

Currency in circulation falls by N42.43bn in two months

CURRENCY in circulation fell by N42.43bn between January and March, figures obtained from the Central Bank of Nigeria have revealed.   The CBN revealed in its data on currency that the currencies, which stood at N3.29tn as of the end of January, fell to N3.25tn by the end of March.   The CBN recently warned […]

Nigerians spend $39.66bn on foreign education, medical tourism – CBN report

NIGERIANS spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020, according to the Central Bank of Nigeria data. According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for their wards to study abroad during the period under review. The BoP report also revealed that Nigerians […]

40 Pharmaceutical Firms Access CBN’s N100bn Intervention Fund

The Pharmaceutical Society of Nigeria (PSN) yesterday, disclosed that 90 per cent of the Central Bank of Nigeria’s (CBN) N100 billion COVID-19 intervention fund has been disbursed to over 40 pharmaceutical companies in the country. The president of (PSN), Sam Ohuabunwa, who disclosed this at a press conference in Lagos, said over 40 pharmaceutical companies were given not less […]