Banking & Finance

Between January and December 2021, the Nigerian banking sector’s credit to the private sector rose by N5.1tn or 16.67 per cent, according to data obtained from the Central Bank of Nigeria. This was contained in the Money and Credit statistics released by the regulator. The report showed that credit to …

Ololade Omosan-Agie African Export-Import Bank (Afreximbank), in collaboration with the FCI, Quarterback and American University in Cairo, announces the opening of registration for the 7th cohort of the Certificate of Trade Finance in Africa (COTFIA 2022) programme. This is a re-modelled programme that replaces the Certificate of International Trade Finance (COFIT) …

The Bank of Industry (BOI), assisted by Rand Merchant Bank (RMB) has issued a EUR700m Eurobond by way of 144A/RegS Senior Note Participation Notes, irrevocably and unconditionally guaranteed by the Federal Government of Nigeria. According to a statement by RMB, the global coordinator and active bookrunner on the Eurobond, BOI, …

Analysts at Financial Derivatives Company Limited have said Nigeria’s inflation rate will rise further in the first quarter of this year. The firm, in its presentation at the LBS Breakfast this month, said the inflation rate is projected to rise to 15.86 per cent in January and maintain the momentum in …

The Central Bank of Nigeria will from December this year stop the sale of foreign exchange to Deposit Money Banks in the country. The CBN Governor, Mr Godwin Emefiele disclosed this at a press briefing on the launch of the bank’s new forex repatriation scheme, RT200. Emefiele said that all …

The naira continued its downward trend as the dollar was sold for N417.51 at the official market on Friday. This was contained in data obtained from the Central Bank of Nigeria official website, showing the exchange rate result and its Monthly Moving Average, on Thursday. According to the data, the …

The African Continental Free Trade Area (AfCFTA) Secretariat and African Export-Import Bank (Afreximbank), today in Cairo signed an Agreement relating to the management of the Base Fund of the AfCFTA Adjustment Fund. The Fund will support African countries and the private sector to effectively participate in the new trading environment …

Oluwasina Phillip Currency in circulation in Nigeria rose by N1.15 trillion in 2021 to N3.33 trillion as of December 2021 its highest level on record. This is on the back of several monetary policies adopted by the Central Bank of Nigeria to increase liquidity in the economy. Data from the …

The Central Bank of Nigeria will frustrate the economic growth recorded since 2020 if interest rate is increased above 11.5 per cent, the Chief Executive Officer of Cowry Asset Management Ltd Johnson Chukwu has said. With the market already expecting higher inflation, there are expectations that the apex bank may …

The World Bank and the African Development Bank approved a total sum of $2.83bn to Nigeria in 2021, It has been learnt. However, the financing is not limited to the Nigerian government, as it also covers Nigerian agencies and firms. This was according to statements by the international banks announcing …