Bank Closure Leaves Customers Stranded In Abakaliki
The continued closure of commercial banks in Abakaliki, the Ebonyi State capital, in the wake of the violent EndSARS protests…
Category: Banking
Bank To Commence BVN Registration For 774,000 SPW Jobs
Heritage Bank Plc has said it is set to commence the account opening with Bank Verification Numbers for the earmarked…
Court Vacates N24b Order Against Central Bank Of Nigeria
A Federal High Court in Abuja has set aside an order against the Central Bank of Nigeria (CBN) in respect…
Morgan Stanley Dares To Share With Bankers’ Pay
Morgan Stanley is making more, and paying more. Logical as that sounds, it’s also rather daring. Handing over big sums…
Exclusive: Second Sovereign Downgrade Wave Coming, Major Nations At Risk – S&P Global
Some of the world’s top economies could see their credit ratings cut or put on downgrade warnings in the coming…
Banking Sector Credit Rises To N18.90tn Nationwide
The total banking industry credit to customers in the 36 states of the federation and Federal Capital Territory (FCT) rose…
Bank Offers Salary Advance To Non-Customers
Polaris Bank has re-launched its popular Salary Advance with an added capability of enabling non-account holders to access quick funds…
Coronavirus Accelerates Nigeria’s Digital Banking Push
Civil servant Amos Dam is frustrated after waiting two hours to enter a bank in Nigeria’s capital Abuja. He is…
Bank Of England Denies Negative Interest Rate Hint
Bank of England (BOE) governor Andrew Bailey has denied that the central bank’s latest policy statement implied that it would…
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 dollars and…
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 Automated Teller Machines…
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 America…
Citibank Sent A Hedge Fund $175 Million By Mistake. Now It’s Struggling To Get The Money Back
Citibank has a big problem: It mistakenly wired roughly $175 million to Brigade Capital Management, and the hedge fund hasn’t…
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 inflation jumped unexpectedly…
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 figures…
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 foreign exchange for…
Bank Of England Governor Says Negative Rates Are ‘In The Toolbox,’ But There Are No Plans To Cut Below Zero
Andrew Bailey, governor of the Bank of England, poses for a photograph on his first day in the post at…
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 record lows.…
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 Standing Instruction which allows…
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…
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 stocks and…
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 Bank…
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 telecommunications The Export-Import Bank…
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 provisions Nigeria’s central bank…
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, as…
Nigeria: Anxiety As Forex Scarcity Hit Banks
Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet daily demands of…
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 now…
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 Work
The Central Bank of Nigeria (CBN), on Monday, released a policy that would allow banks to settle loan defaults with…