Banks expand loans size by 57% to N37.2trn

Amidst tight monetary policy and economic contractions, loan portfolio of leading Deposit Money Banks in Nigeria expanded by 57 percent to N37.17 trillion in 2023 against N23.68 trillion recorded in 2022. The large credit growth was driven by Access Bank, Zenith Bank, First Bank, Guaranty Trust, United Bank for Africa (UBA) Plc, Fidelity Bank, GT Bank, Stanbic […]

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Electricity tariff hike imposed by IMF, World Bank – Falana

Human rights lawyer, Femi Falana, said the Federal Government is working in the interest of the International Monetary Fund (IMF) and the World Bank following a hike in electricity tariff. Falana stated this in an interview on Channels Television’s Politics Today on Monday. He said, “The Honourable Minister of Power is acting the script of the IMF […]

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NIJ to become degree awarding institute —Osoba

The Nigeria Institute of Journalism, NIJ, will soon move from the present status to the degree awarding institute. Chairman, NIJ Governing Council, Aremo Olusegun Osoba, gave the assurance, yesterday, during the turning of the SOD for the construction of the 350-seater Kesington Adebutu Media Resource Auditorium, in the institute. Osoba, two-time Ogun State governor, who […]

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Social media now priority for national security — Ribadu

The National Security Adviser, Nuhu Ribadu, said social media have become a priority and issue of national security. Ribadu stated this in Abuja at a meeting with spokespersons of organisations under the umbrella of Strategic Communication Interagency Policy Committee. According to the NSA, negative use of social media constituted both local and global threats. Ribadu […]

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Naira depreciates to N1,340/$ in parallel market

The Naira yesterday depreciated to N1,340 per dollar in the parallel market, from N1,300 per dollar last week Friday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,419.11 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,419.11 per dollar from N1,339.23 per dollar last […]

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Nigerians made Tinubu president, not Wike — Oduduwa group

The Oduduwa Development Congress (ODC) has disputed claims by the Minister of the Federal Capital Territory, Mr Nyesom Wike, that he played a significant role in bringing President Bola Ahmed Tinubu to power. The group said Wike’s claim is merely a product of his imagination. ODC emphasised that Nigerians, not Wike, made Asiwaju Bola Tinubu their […]

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