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Investment In FGN Savings Bonds Rise By 53%
Analysis has shown that investment in the FGN Savings Bonds rose by 53 per cent, year-on-year, YoY, to N7.5 trillion in the first half of the year (H1’22), from N4.9 trillion in the corresponding period of last year (H1’21). There was a sharp increase in investors’ patronage for FSB in H1 ‘2022 is driven by…
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Nigeria Spends N896.7bn On Debt Servicing In Q1’22
The Debt Management Office has said that Nigeria spent N896.7 billion on domestic and foreign debt servicing in the first quarter of 2022, Q1’22. This represents a 12 per cent year-on-year (YoY) decline from N1.02 trillion spent in the corresponding period of 2021. In its External and Domestic Debt Service Payment Reports for Q1’22, the…
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Banks’ Borrowing From CBN Rises 63%
Banks’ borrowing from the Central Bank of Nigeria has persisted in its upward trend in May, rising by 63 percent, Month-on-Month, MoM, to N1.8 trillion. The CBN lends money to banks through the Standing Lending Facility (SLF) and Repurchase (Repo) arrangement windows. While the CBN lends money to banks through the SLF at interest rate…
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Nigeria Expenditure Approach
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CBN To Sell N1.2 trn Treasury Bills By Q3’22
The Central Bank of Nigeria has said it will sell N1.2 trillion worth of Treasury Bills (TBs) in the third quarter of 2022 (Q3’22). The apex bank disclosed this in its Nigeria Treasury Bills Issue Programme for Q3’22. TBs are short term debt instruments used by CBN to borrow money from the public on behalf…
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Investment In Start-ups Falls 78.2%
The Nigerian Investment Promotion Council (NIPC) has disclosed that investment in Nigeria’s start-up sector has continued to lose steam, falling massively by 78.2 percent. This is a drop to $57.55 million in April across 10 companies from $263.68 million in March. NIPC said this in its April 2022, investment highlights which shows that the ten…
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DISCOs Metered 3.51m Customers In One year
Report released by the National Bureau of Statistics has shown that the Nigeria Electricity Distribution Companies metered about 3.51 million customers in 2020. The report presents statistics on electricity from 2015 to 2020 and focuses on customer numbers, metered customers, estimated billing customers, and most importantly, electricity supply and revenue collected during the period under…
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Insurance Sector Grows By 15.68% In Q1
According to figures obtained from the National Bureau of Statistics on the country’s Gross Domestic Product, the Nigerian insurance sector grew by 15.68 per cent in the first quarter of the 2022 financial period. The statement said, “The finance and insurance sector consists of the two subsectors, financial institutions and insurance, which accounted for 89.12…
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Contributory Pension Gains N640bn In Four Months
According to figures from the National Pension Commission, the total assets under the Contributory Pension Scheme rose by N640 billion in four months to N14.06tn in April. This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 30 April 2022; Approved Existing Schemes,…
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Mobile Transactions Hit N4.86tn In Four Months
According to data from the Nigeria Interbank Settlement System, Nigerians’ use of mobile channels for payment transactions has risen by 3,454.46 percent. This is an increase from N136.85 billion within the first four months of 2019 to N4.86 trillion in the corresponding period of 2022. This growth follows a 13.98 percent increase in the number…