Custodians of Truth
In August 2022, through Ways and Means Advances, the Federal Government borrowed N1.46 trillion from the Central Bank of Nigeria. From N20.61 trillion in July 2022 to N22.07 trillion in August 2022, the total amount borrowed by FG from the […]
The Central Bank of Nigeria has lent businesses N9.3 trillion, about 31% of that amount, to manufacturers. However, the central bank has already received N3.7 trillion while the remaining N5 trillion was not yet due. Dr. Yusuf Yila, Director of […]
The Monetary Policy Committee of the Central Bank of Nigeria hiked the benchmark interest rate from 14 to 15.5 percent in response to the spiraling rates of both local and global inflation. From the 14% rate approved at the most […]
According to the 2023-2025 Medium Term Expenditure Framework & Fiscal Strategy Paper, debt service consumed N6.16 trillion in 16 months. The Federal Government paid N4.22 trillion on debt service in 2021, and an additional N1.94 trillion from January to April […]
From N33.85 trillion at the end of June 2021 to N42.03 trillion in the same time of 2022, the total deposits in the banks increased by 24.17 percent. In her personal statement at the most recent MPC meeting, Aishah Ahmad, […]
In order to stabilize the naira’s value over a five-month period, the Central Bank of Nigeria infused $7.6 billion into the economy. This information was gathered from the banking regulator’s monthly economic reports on changes in the foreign currency market. […]
The first quarter of 2022 saw a 29% decline in crude oil revenue, according to data from the Central Bank of Nigeria. The CBN said that revenues from crude oil fell to N790bn from N1.1trn recorded in the previous quarter, […]
In order to settle overdue ticket sales and stave off a crisis in the country’s aviation industry, the Central Bank of Nigeria has given $265 million to airlines that operate there. There have been significant objections and comments regarding the […]
The CBN Governor, Mr. Godwin Emefiele, has revealed that starting the next week, Nigerians will be able to use their mobile phones and the Unstructured Supplementary Service Data code to conduct eNaira wallet transactions. The Central Bank of Nigeria (CBN) […]
To mitigate the impact of COVID-19 on the economy, the Central Bank of Nigeria reverted its five percent intervention loans provided before July 20, 2022, to nine percent effective as of September 1, 2022. This was stated in a circular […]