Financial Performance Highlights
Overview
Operating Environment Financial Review Guidance
Key regulatory and policy changes
MPR retained at 11.5% and the asymmetric corridor
remain unchanged at +100/-700bps.
Jan
The Finance Act 2020 took effect from January 1, 2021.
Feb
2021 appropriation bill signed off with an increase in
aggregate revenue and planned expenditure.
Mar
CBN introduced Naira-for-Dollar Scheme, a N5 per USD
incentive to retail beneficiaries of international money
transfers through only the IMTOS.
Headline Inflation hit 18.17% in March 2021 from 17.33%
in Feb 2021, making it the 19th consecutive M-o-M
increase and the highest inflation figure since Jan 2017
May
✰ CBN extends the deadline for Naira-4-Dollar Scheme
until further notice. The N5 per USD incentive for retail
beneficiaries was meant to end on May 8, 2021.
✰ CBN releases the requirement for Switching & Processing
and Mobil Money Licences with the minimum required
equity pegged at N2bn.
Apr
Jun
✰ CBN issued regulatory framework for Open Banking
❖ SEC released general rules for Collective Investment
Schemes.
CBN extends regulatory forbearance for restructured
loans impacted by Covid-19 by another 12 months.
FG plans to cut personnel cost and merge MDAs to
reduce government spending.
◆ Guideline for SLF and TRF Repo released.
NNPC to revoke the licences of non-operating modular
refineries and issue new licences to investors
The World Bank revised its estimated for the Nigeria's
2021 GDP growth rate from 1.1% to 1.8% before it will
edge up to 2.1% in 2022.
✰ FG suspends the operation of Twitter in Nigeria
◆ Senate passed the Petroleum Industry Bill (PIB)
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