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Banking
Zenith Bank Cuts Cost Of Funds To Defend Profit In Q3
Zenith Bank Plc defied a generally rising cost of funds in the financial markets and cut interest expenses by close…
Banks’ Credit To Economy Hits N23.5tn, Says CBN
Banks’ gross credit to the Nigerian economy rose to N23.5tn in November this year, according to figures obtained…
A Total Of N6.16bn Was Paid As A Liquidation Dividend- NDIC
According to Punch Newspaper, The Nigerian Deposit Insurance Corporation said on Thursday that a total of N6.16bn…
VAT Generated Decreased By N11.75 Billion In Q3
The total value-added tax (VAT) collected on behalf of the federation decreased by N11.75 billion within three…
CBN Frowns At Commercial Banks Over E-Naira
The Central Bank of Nigeria (CBN) has frowned at the commercial banks for not doing much to educate Nigerians about…
Effective Mechanisms To Insulate E-Naira From Hackers And Fraudsters Is In Place :…
The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the…
CBN Automates Forex Forms For BTA, Tuition Fee
Nigerian banks have informed their customers regarding the automation of Forms A and NCX for invisible and…
South Africa President Urge Nigeria Banks To Set Up Branch In South Africa
President of South Africa, Cyril Ramaphosa has urged Nigerian banks to set up branches in South Africa as the…
Data Suggest Forex Market Getting Out Of Shock
Notwithstanding the rattle by the newest variant of COVID-19, Omicron, which has raised fresh uncertainty, data and…
Banks’ Earnings Hit N2.64tn In Nine Months – Reports
Nine banks made a gross earning of N2.64tn in the first nine months of 2021 according to data collated from the…
Currency In Circulation Rose By 4.58% To N2.97tn In October – CBN
The Central Bank of Nigeria (CBN) says the currency in circulation rose by 4.58% from N2.84tn in September to…
NDIC Pays 535,815 Closed Banks’ Depositors N11.76bn
The Nigeria Deposit Insurance Corporation has said that 467 banks have either been liquidated or undergoing the…
Softbank Fall Steepens After Report That Chinese Regulators Have Asked Didi To…
Shares of SoftBank extended their losses on Friday after Bloomberg reported that Chinese regulators have asked…
EFCC Traces Most Bank Frauds To One Set Of Bankers
The EFCC declared in Abuja on Wednesday that most frauds in the banking sector were perpetrated by insider…
Ecobank Warns Prospective Buyer Of Honeywell Flour LTD Says Company Facing Winding…
Consequent upon media reports on the move by Flour Mills Nigeria PLC to acquire 71.69 percent of Honeywell Group…
First Bank Too Big To Be Owned By One Person — CBN
The Central Bank of Nigeria (CBN) has said that it would be guided by the decision of the Securities and Exchange…
BREAKING: CBN Retains Lending Rate At 11.5%
The Monetary Policy Committee of the Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 11.5…
Citigroup To Create 100 Roles In Digital Asset Push
Citigroup is looking to create 100 roles focused on digital assets including blockchain and digital currencies at…
Seven Banks Rake In N403.6bn From Fees, Commissions
Seven deposit money banks in Nigeria generated the sum of N403.6bn in nine months from fees and commissions, 24.7…
Net Forex Inflow Rose To $2.77bn July, Says CBN
The net foreign exchange inflow into the Nigerian economy rose slightly to $2.77bn in July from $2.27bn in June,…
CBN Orders Farmers To Insure ACGSF Loans
The Central Bank of Nigeria has said farmers must have an insurance cover for loans to be disbursed to them under…
Low Transparency May Hamper Debt Restructuring, World Bank Warns
Limited transparency will delay critical debt reconciliation and restructuring of the poorest countries, the World…
Investors Lose N33bn, Banking, Industrial Stocks Decline
Stock investors in the Nigerian Exchange Limited recorded a loss of N33.36bn at the end of trading on Thursday as…
Germany’s $9 Billion Digital Bank N26 To Withdraw From The U.S.
German digital bank N26 is shutting down its U.S. operations, less than two-and-a-half years after it launched in…
VAT Declines As FG, States, LGs Share N672bn
The Federal Government, 36 states of the federation and the 774 local government areas of the country shared the…
ENaira May Reduce Deposits In Commercial Banks, IMF Warns CBN
The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria…
U.S. States File Updated Antitrust Complaint Against Alphabet’s Google
A group of U.S. states led by Texas have filed an amended complaint against Alphabet Inc's Google accusing the…
Keystone Bank Denies Reports On Its Meeting With Reps Committee On Recovery
Keystone Bank Limited has said that reports in some sections of the online media on its meeting with the House of…
Four Banks Borrow $6.21bn From Foreign Market Amid Dollar Shortage
In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from…
Naira Gains In Parallel Market On Rising Dollar Availability
Nigeria’s naira rebounded in the illegal market as the central bank boosted sales of dollars through commercial…