Fri. May 13th, 2022

BUSINESS NEWS.

The Central Bank of Nigeria says the total assets of Nigerian banks rose from fifty-two point three two trillion in February 2021 to sixty point zero one trillion in February 2022, indicating eighteen point five-three increase.

The CBN Deputy Governor, Financial System Stability Directorate, Aishah Ahmad, who disclosed this in a statement, after the last Monetary Policy Committee meeting, said, total credit also increased by four point thirteen trillion between end of February 2021 and end of February 2022 with significant growth in credit to manufacturing, general commerce and oil and gas sectors.

The National Bureau of Statistics, NBS, says household consumption expenditure rose Year on Year by twenty-five point six percent in 2021 from zero one point six nine percent in 2020.

According to NBS reports, the nation’s annual GDP at basic prices rose to three point four percent in 2021 from zero one point six nine percent in 2020, while net exports and imports fell in 2021 resulting in a fall in the growth of net balance of trade in first to third quarter of 2021.

The Nigeria Identity Management Commission has issued eighty point seven million National Identification Numbers, nineteen days after the agency deactivated about seventy-two million telecommunications subscribers for failing to comply with the Federal Government’s NIN-Subscriber Identity Module Policy.

The Chairman, Association of Licensed Telecoms Operators of Nigeria, Gbenga Adebayo, in an interview with newsmen, said more subscribers had since submitted their NINs for linkage.

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