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The spike in loan losses provision is stemmed from the rising interest rate which has made paying back tough for borrowers. With inflation at a 28 year high,
The Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability Directorate, Philip Ikeazor, has said given the poor contribution to growth and vulnerability to rate hikes of the oil and manufacturing sectors of the economy, consecutive aggressive tightening of interest rate will further depress the economy. He made the…
Deputy governor of Financial System Stability of the Central Bank of Nigeria (CBN), Philip Ikeazor, has said that the rise in non-performing loans in the
In his comments, the CBN deputy governor, Corporate Services, Bala Moh’d Bello whilst noting that, as at February this year, financial soundness indicators in
The last meeting of the MPC was held in July 2023, and was presided over by the then-acting CBN governor, Folashodun Shonubi.