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Business

Nigeria Records N1.46tn Revenue Deficit In Q1 2020

Nigeria’s gross revenue collection recorded an N1.46trillion deficit in the first quarter of 2020. This deficit is against the budget estimate of N3.95tn projected...

Banking

COVID-19: 22 Banks Make Desperate Call To CBN Over Thousands Of Loans

By Hamilton Nwosa(Head, The New Diplomat’s Business and data tracking desk) As the effects of the pernicious COVID-19 pandemic continue to make landfall, managers of...

Banking

Forex Crisis: Nigerian Banks Limit Debit Card Spending Abroad

In yet another worrying sign of Nigeria worsening Foreign Exchange crisis, Nigerian customers abroad will have their debit card spending limited by some of...

Economy

Breaking! CBN Retains MPR At 12.5%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN rising from its meeting has held the Monetary Policy Rate (MPR) constant...

Economy

Increasing Oil Revenue, Tax Receipts Push Nigeria’s Revenues Up By N140bn

Nigeria’s gross revenues rose to N653.3billion naira in June from N517.8b in May signaling an increase of N135.1b month on month. This increase was triggered...

Business

Forex Turnover Depreciates By 63 Percent As Naira Falls Further At I&E Window

Following low Foreign Exchange, Forex inflow due to low oil prices triggered by the coronavirus pandemic, Forex turnover dropped by 63.7% while the exchange...

Business

Foreign Inflow Hits N3.5tr In February – CBN

The Central Bank of Nigeria, CBN in its February monthly report disclosed that the nation’s economy recorded a net foreign exchange inflow of $9.35bn...

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