CBN’s lending to banks rises 466 % to N268bn
Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at October 2022 reflecting the increase in currency outside banks. The apex bank has two short-term lending windows for banks and merchant […]
$5bn Train-7 Project At 52% Completion, Generates 8,300 Jobs
The ongoing construction of the $5 billion Train-7 project being undertaken by the Nigeria Liquefied Natural Gas (NLNG) at Finima, Bonny Island, Rivers State has reached 52 per cent and currently engages 8,300 Nigerians of diverse skill sets. These facts emerged as the Management of the Nigeria LNG Limited led by the managing director, Dr. […]
Nigeria lost N4.3tn to oil theft in five years – FG
The Federal Government, on Monday, revealed that more than N4.3tn worth of crude oil was stolen in 7,143 pipeline vandalism cases within a period of five years. It disclosed this at the Nigeria International Pipeline Technology and Security Conference in Abuja, with the theme, ‘Bolstering Regulations, Technology and Security for Growth.’ The conference was organised […]