Nigeria’s Gross Domestic Product (GDP) grew by 3.19% per cent (year-on-year) in real terms in the second quarter of 2024. This growth rate is higher than the 2.51% recorded in the second quarter of 2023 and higher than the first quarter of 2024 growth of 2.98%. The performance of […]
Category: Financial Analysis
Financial Analysis
Nigerian banks get N21 trillion deposits in three months
Nigerian banks added about N21 trillion in new deposits in the first quarter of this year to push the sector’s total deposits to about N136 trillion, on course to surpass its 2023 business year performance. Audited reports and regulatory filings by commercial banks and their holding companies showed that individuals […]
Banks’ credits to private sector rise by N30 trillion
Nigerian banks have created about N30 trillion in new loans and supports for the private sector in a sustained efforts that have seen the banking sector emerging as the backbone of the country’s economic renewal agenda. Latest data from the Central Bank of Nigeria (CBN) indicated that credit to the […]