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Banking
Survival Strategies Pushing Banks In Nigeria Away From Lending
The economic downturn in Nigeria is forcing the nation’s lenders to rewrite their business plans.
A shortage of…
Experts warn as ATMs breed dirty notes
Experts, yesterday, blamed the preponderance of dirty notes on corruption and lack of political will, as 22,000…
Banks Eye Layoffs As Short-Term Crisis Ends, Long-Term Costs Emerge
At the height of the coronavirus pandemic last spring, the heads of U.S. banks including Morgan Stanley, Bank of…
Citibank Sent A Hedge Fund $175 Million By Mistake. Now It’s Struggling To…
Citibank has a big problem: It mistakenly wired roughly $175 million to Brigade Capital Management, and the hedge…
Sterling Unfazed By Higher Inflation, Still Driven By Dollar
Sterling remained driven by the weaker U.S. dollar on Wednesday in thin August trading, even though British…
Nigeria: Foreign Reserves Fall By $544.94m In Six Weeks
The country’s foreign reserves fell by $544.94m from $36.17bn on July 1 to $35.62bn on August 13, the latest…
Global Investment Banks To Be Exempted From Turkey’s Lira Limits
Turkish authorities are working on a plan to exempt global investment banks from some restrictions on swapping…
Bank Of England Governor Says Negative Rates Are ‘In The Toolbox,’ But There Are…
Andrew Bailey, governor of the Bank of England, poses for a photograph on his first day in the post at the central…
Treasury Yields Bounce Slightly From Last Week’s Record-Setting Drop
Treasury yields edged higher on Monday following last week’s decline that pushed some of the frond-end rates to…
Banks Implement New CBN Guidelines On Debt Recovery
Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global…
Banks Squeezed As CBN Shores Up Naira
Nigeria’s banks are expected to take a big hit to revenues and face rising borrowing costs this year as the central…
Nigeria: People Fear They’ve Got Too Much Cash In Their Bank Accounts
Falling interest rates are tempting some Americans to forego safety and pour their savings into assets such as…
Banks’ Non-Performing Loans Now N1.2tn – CBN
Banks’ non-performing loans stood at N1.2tn as of the end of June according to figures obtained from the Central…
Black And Ethnic Minority People Could Feature On British Money
Black and ethnic minority figures are set to feature on British currency for the first time, with Gurkha heroes and…
U.S. Exim Bank Out To Displace China After Record Loan In Africa
Bank finalizes $4.7 billion loan for Mozambique gas project
Support could range from power systems to…
Nigeria Wants Banks to Alter 65% of Loans Amid Economic Fallout
Lenders are already busy reorganizing $20 billion of debt
Banks can revamp credit terms without booking…
Nigerian Banks To Limit Debit Card Spending Abroad To Ease FX Risk
Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said,…
Nigeria: Anxiety As Forex Scarcity Hit Banks
Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet…
Nigeria: No More Hiding Place for Loan Defaulters
Individuals and companies, who have the habit of borrowing from banks, with the intention of not paying back, may…
How Did Nigeria’s Treasury Bills Drop From 18% to 3% in 3 Years?
How did Nigeria's treasury bills drop from 18% to 3% in the last three years and why earnings on savings,…
EXPLAINER: How The Policy On Settling Loan Defaults With Funds In Other Banks Will…
The Central Bank of Nigeria (CBN), on Monday, released a policy that would allow banks to settle loan defaults with…
NDIC Seeks To Hold Directors Accountable For Bank Failures
The Nigeria Deposit Insurance Corporation has sought a legal backing from the National Assembly to enable it to…
CBN Seeks Power To Freeze Bank Accounts ‘Linked To Criminals’
The Central Bank of Nigeria is seeking sweeping powers to freeze bank accounts “linked to criminals in the country…
CBN Seeks Exclusive Right To Bank Licensing, Revocation
The Central Bank of Nigeria (CBN) has said, in line with international best practices and to avoid duplication of…
Banks Now To Seize Defaulter’s Funds In Other Banks
The Central Bank of Nigeria, CBN, has issued guidelines on the Global Standing Instruction, GSI, which enables…
Bank Of England Debating Digital Currency Creation
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to…
Banks To Place Chronic Loan Defaulters On Watch List
the Central Bank of Nigeria on Monday released the guidelines aimed at reducing non-performing loans in the banking…
Nigerian Banks To Debit Debtors’ Accounts Directly
The Central Bank of Nigeria (CBN) has released guidelines on Global Standing Instruction (GSI) that would enable…
Looming Free Fall – How To Save The Naira
On Tuesday, the Central Bank of Nigeria, CBN, adjusted the value of the Naira to exchange to the dollar at N381, as…
Nigeria’s Confusing Currency and IMF Loan
Humbled by crashing oil prices and the coronavirus pandemic, Nigeria appears to be heeding the International…