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15 States’ Debts Jump To N1.68tn
The cumulative domestic debts of 15 states rose by 153.82 percent between December 31, 2015, and March 31, 2021. This is according to an analysis of data obtained from the Debt Management Office. Each of the states under review recorded at least a 100 percent jump in less than the six years under review…
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Currency In Circulation Falls By N65.74bn In Four Months
The Central Bank of Nigeria’s latest figure has said the currency in circulation fell by an N65.74billion. This was a drop to N2.741 trillion at the end of June from N2.81 trillion in March, According to the CBN, the currency in circulation, which stood at N2.796tn at the end of April, fell to N2.791tn in…
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Nigerians Trade N92.25m Bitcoin On Paxful
Despite the ban on cryptocurrency trading, Nigerians traded bitcoin volumes of over N92.25 million ($225K) on Paxful– a cryptocurrency trading platform– from March to June 2021. According to a source in Paxful, reported by the Punch Newspaper, from November 2020 to February 2021, trading volumes from Nigeria was about N73.8 million. The source said, “From…
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Manufacturing Sector Grew Slightly In April
The Central Bank of Nigeria has disclosed in its Monetary Policy Committee report that the manufacturing sector recorded marginal growth as the Purchasing Managers’ Index rose to 49.0 index points in April from 48.8 index points in March 2021. It said, “The committee noted the marginal growth in the Manufacturing Purchasing Managers’ Index to 49.0…
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ANALYSIS: COVID-19 Impact Hit Hard On Food Prices
As Nigeria gradually heals up from the impact of the COVID-19 pandemic on its economy, Nigerians are still finding it difficult to adjust to the skyrocketing prices of food stuff despite key indicators showing a slight relief on the country’s economy. Twentyten gathered that averagely, the prices of every ‘regularly consumed’ food product had doubled…
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CBN To Provide N60bn for Mass Metering
The Central Bank of Nigeria (CBN) will provide N60 billion for the first phase of its national mass metering programme, the federal government has said. The fund will be provided for the supply of one million electricity meters meant for free distribution to unmetered power users across the country. This was contained in a document…
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External Reserves Drop In Two Months
According to the latest data by the Central Bank of Nigeria, the country’s external reserves fell by $1.4bn in two month. The reserves, which stood at $35.25bn as of April 16, fell to $34.23bn as of May 31 and $33.85bn as of June 15. The CBN Governor, Godwin Emefiele, said at the recent Monetary Policy…
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Nigeria To KickOff Currency Minting Deal With Gambia
The Central Bank Of Nigeria has agreed on a currency minting deal with the Central Bank of Gambia. CBN Governor, Mr Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of the Gambia, Mr Buah Saidy, who led a delegation to visit him on Tuesday, June 15. According to…
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[Fact Check] All You Need To Know About The New USSD Rates
![[Fact Check] All You Need To Know About The New USSD Rates](https://twentytendaily.com/wp-content/uploads/2021/06/pexels-adrianna-calvo-17663-850x560.jpg)
By now, many bank customers in Nigeria may have received the email or text from their banks notifying them of the charge on every USSD transactions. John Akubuiro told TwentyTen that he got an email from Access Bank titled “Important Update on USSD Transactions”. The mail informed him that a fee of N6.98 would be…
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CBN To Loan $70,000 To SME’s And Households Affected By Covid-19
The Central Bank of Nigeria (CBN), through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises (SMEs) as well as households affected by COVID-19 to access up to $70,000. According to the Central Bank of Nigeria, household owners whose livelihood was affected by the Coronavirus and business owners…