Kwur MAPOLY lecturers suspend strike
Scarcity of funds in the banking industry has prompted banks to rely on the Central Bank of Nigeria for liquidity support.Banks borrowing from the apex bank is set to hit N45 trillion this year, with interest payment of N36 billion.This represents 51 per cent and 64 per cent increase when compared with N29 trillion borrowing in 2016, with N22 billion interest.Banks deposit placement with the CBN is expected to drop by 14.3 percent to N15.6 trillion from N18.2 trillion while interest earned by the banks will rise slightly to N5.1 billion from N4.8 billion last year.CBN economic report for January and February, shows banks average monthly borrowing through its Standing Lending facility pushed by 56 per cent to N3.8 trillion from N2.5 trillion last year. ADVERTISEMENT
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Monday 24 January 2022 3:05 pmBritish Gas owner Centrica picks up customers from fallen firm Together EnergyBy: Nicholas EarlShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleBritish Gas owner Centrica paused buyback programmeCentrica, owners of British Gas, has swooped in to rescue UK households from doomed supplier Together Energy, which ceased trading last week.Market regulator Ofgem has allocated the entirety of Together Energyrsquo 176,000 customer base through its supplier of last resort process.The latest take-up means British Gas
stanley cup has swallowed up 700,000 new customers from failed suppliers, amid escalating market carna
owala cup ge over the past year.British Gas we will be in touch with Together Energy customers about the moving-over
owala water bottle process in the coming days.Sub-brand Bristol Energy has also collapsed ndash; with its customers also moving to the Big Six energy firm. Centricarsquo chief executive Chris Orsquo;Shea said: We welcome customers of Together Energy to British Gas, and wersquo;ll ensure the switchover is as smooth as possible. We have now stepped in to help around 700,000 customers who have found themselves without a supplier over the past year, and wersquo;ll continue to engage with the Government and Ofgem to find ways to help stabilise and support the sector.Neil Lawrence, director of retail at Ofgem, said: Ofgemrsquo number one pr
