Ethiopia has officially joined the growing list of African nations facing financial distress as it failed to meet a crucial interest payment following the expiration of...
A recent economic report indicates a shift in credit dynamics within the Nigerian economy. The projection anticipates a decrease in government borrowing while expecting private sector...
The Federal Executive Council of Nigeria has approved a $3.45 billion loan application to finance five crucial projects. The projects span diverse sectors, encompassing power, renewable...
The Nigerian government’s 2024 fiscal plan unveils a financial landscape where servicing its mounting debt burden overshadows the allocation of salaries and pensions for its workforce....
The Federal Executive Council (FEC) meeting unveiled a game-changing development on Monday. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced...
CBN's COVID-19 Forbearance Leads to Loan Repricing
In the first half of 2023, Nigeria resorted to foreign borrowing, securing a total of $1.21 billion in loans to bolster capital importation. A recent report...
In a concerning trend, state governments in Nigeria have resorted to borrowing approximately N46.17 billion from commercial banks to meet their salary obligations in the first...
Afrexim Bank has turned to oil traders to secure a crucial $3 billion loan for the state oil company NNPC LTD, sources close to the matter...
The Nigerian banking sector has witnessed an unprecedented 835% surge in borrowings from the Central Bank of Nigeria (CBN) in the span of just one month,...
