-
External Reserves Gained $2.4bn In September
The Central Bank of Nigeria has said that the country’s external reserves rose by $2.4bn in September. CBN said that the reserves which stood at $34.02bn as of the end of August rose to $36.41bn as of September 2021. At the last Monetary Policy Committee meeting, the Central Bank Governor, Godwin Emfiele, said, “The…
-
Foreign Exchange Inflow Drops To $4.97bn
Figures obtained from the Central Bank of Nigeria has shown that the foreign exchange inflow into the economy fell by 59.8 percent in April. This is according to the bank’s monthly report on ‘Foreign exchange flows through the economy’. Part of the report read, ‘Aggregate foreign exchange inflow into the economy declined sharply, reflecting tepid…
-
Banks’ Borrowings Rise By 737%
Bank borrowings from the Central Bank of Nigeria’s Standing Lending Facility has risen year-on-year by 737 percent to N2.3 trillion in April 2021 from N274.65 billion in April 2020. Also, CBN earnings from the SLF during the period rose by 381 percent to N1.33 billion from N270 million in April 2020. However, banking system liquidity…
-
98 companies Post N6.1trn Turnover In H1 2021
No fewer than 98 leading companies on the Nigerian Exchange Limited have recorded a combined turnover of N6.1 trillion in the first half of 2021. The companies’ H1’21 combined turnover was 17.57 percent more than the N5.2 trillion recorded in the same period in H1’20. According to their financial reports, they turned over to the…
-
FG, States, LGs share ₦696.965 In August
In August 2021, the government, at all levels, in Nigeria shared the sum of ₦696.965 billion as federation allocation. This is according to the details of the communiqué provided by the Deputy Director (Information), Ministry of Finance, Oshundun Olajide. The Federal Government received ₦289.257 billion; states got ₦217.183 billion; Local Governments received ₦161.541 billion. The…
-
Five Banks Pay N1.6bn For Forex Infractions, Other Penalties
In the first half of the year, five banks in Nigeria paid a total of N1.4 billion as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria. The banks include UBA , Fidelity Bank, Access Bank, GTBank and First City Monument Bank. This…
-
Twentyten Daily Weekly Round Up
Hello Twentyten Daily Readers Below is a roundup of last week’s stories, we reported how between March and August, Nigeria received a total of 9,916,320 doses of Covid-19 vaccines. Within this period, Nigeria received four types of vaccine; Oxford-AstraZeneca, Mordena Vaccine, Johnson and Johnson and Covishield COVID-19 Vaccine. A total of 5,338,640 doses of Oxford-AstraZeneca…
-
Nigeria Recorded N150.36bn Fiscal Deficit In April
According to figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government, Nigeria recorded a fiscal deficit of N150.36 billion in April 2021. This is coming after aggregate expenditure of N559.67 billion and retained revenue of N409.31 billion was recorded. Part of the report read “Federation revenue rose…
-
Seven Banks Paid N231.99bn As Salaries In 2020
After analyzing data banks 2020 annual reports, a total of eight Nigerian banks paid N231.99 billion in wages and salaries in 2020. This is N1.92 billion less than what they paid in 2019. Of the banks under review Zenith Bank paid the highest in wages in 2020 (N52.49bn) while Wema bank paid the least in…
-
Nigeria debt Stock Hits N2.36tn In 3 Months
The total public debt stock of Nigeria has risen from N33.11 trillion as of March 31, 2021 to N35.47.trillion as of June 30, 2021. This shows an increase of N2.36 trillion or 7.13 percent within three months This was disclosed by the Director General of the Debt Management Office, Patience Oniha, who provided a breakdown…