CBN raises banks’ LDR to 65%

The Central Bank of Nigeria has raised the Loan to Deposit Ratio of banks to 65 per cent, after the September 30 deadline given to the banks to meet its 60 per cent directive. The apex bank gave its regulated entities December 31, 2019 deadline to meet its new requirement. It noted that the credit […]


CBN acquires National Arts Theatre

The Central Bank of Nigeria (CBN) and the Bankers Committee, which comprise of chief executives of banks, will tomorrow, Wednesday, October 2, 2019 take over the operations of the National Arts Theatre along with 40 acres of land that is being donated by the Lagos state government for a Creative Industry Hub. This was revealed […]


161 Nigerians arrive from Libya on Independence Day

As the nation celebrates her 59th independence anniversary, the National Emergency Management Agency (NEMA) received another batch of 161 stranded Nigerian returnees from Libya. Idris Muhammed, the Coordinator, NEMA Lagos Territorial Office, confirmed the development to News Agency of Nigeria (NAN) on Tuesday in Lagos. Mr Muhammed said the Nigerians arrived at the Cargo Wing […]


FG plans N4.6tn borrowings, debt to hit N30tn

The Federal Government is planning to borrow fresh N4.6tn within the next three years, covering 2020 to 2022, to finance its programmes, figures obtained from the Ministry of Budget and National Planning have revealed. If the N4.6tn new borrowings scale through legislative scrutiny and get executed, then Nigeria’s indebtedness to local and foreign creditors would […]