Browsing Category
Banking
CBN Floats Naira at Investors’ Forex Window.
To enable the naira's free float versus the dollar and other major world currencies, the Central Bank of Nigeria…
The Index of Nigerian Banking Equities Rises to a 20-year High.
Following the dismissal of central bank governor Godwin Emefiele last week, who supervised restrictive policies,…
Banks Continue to Maintain Ratio at Above 30% Despite Liquidity Crunch.
Deposit Money Banks (DMBs) operating in Nigeria reported varied Liquidity Ratio (LR) over the statutory level in…
Exposure of Nigerian Banks to $13 billion Eurobond for Ghana Set at $1.7 Billion.
According to a research published by Agusto &Co, Nigerian banks have a significant amount of exposure to the…
African subsidiaries account for half of UBA’s earnings – CEO.
United Bank for Africa Plc has reported that all of its African businesses are now on solid ground, adding…
The NDIC will auction the assets of failed banks and reimburse clients.
Following the Central Bank of Nigeria's cancellation of licenses for 179 microfinance institutions and four…
In April, bank credit to the private sector surpassed N44 trillion.
The Central Bank of Nigeria (CBN) has revealed that banking industry lending to the private sector surpassed N44…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of…
CBN will Provide Rules for Contactless Payments.
According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and…
Access Bank Receives Regulatory Approval to Acquire Angola Company.
The Central Bank of Angola, Banco Nacional de Angola, has given its clearance to Access Bank, the flagship…
CBN: Bank Deposits Fell N210bn in Q1.
Total demand deposits fell by N210 billion between January and March 2023, as Nigerians made huge withdrawals from…
Eight Banks Earn N225 billion from E-banking Fees.
As cashless transactions increased to N395.47tn in 2022, eight banks made N224.69bn from electronic banking fees.
…
Union Bank’s Earnings Increase by 19%.
According to Union Bank of Nigeria Plc, its total earnings increased by 19% to N208. 2 billion in the 2022 fiscal…
EPayments Reach N49.4 Trillion, With 40% of Failed Transactions Unresolved
According to CIO, we have handled more than 60% of ePayment issues. Although banks owe telcos over N100 billion in…
GTCO Generates a N214 billion Profit.
According to Guaranty Trust Holding Company Plc, it reported a profit before tax of N214.2 billion, a 3.3%…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
UBA, Zenith Bank, and Four Other Institutions Announce N389.8 Billion Dividend in…
Six out of the 13 listed banks on the Nigerian Exchange Limited (NGX) declared a combined N389.8 billion in…
UBA Increases Loan Portfolio by N605 billion.
The United Bank for Africa (UBA) that its loan portfolio increased by N605 billion during the 2022 fiscal year.
…
Access Holdings Finances a Bank Subsidiary with $300 million.
According to Access Holdings Plc, it has completed a $300 million capital investment into Access Bank Plc, its…
Foreign Reserves Decrease by $1.46 billion in two months – CBN
According to information collected from the Central Bank of Nigeria, between January and March, the nation's…
Sterling Bank stock trading is halted on NGX
The Nigerian Exchange Limited's trading floor has halted all activity in Sterling Bank shares. The suspension,…
UBA Increases Profit by 31% to N201 billion.
United Bank for Africa said that its 2022 financial period saw a N201 billion profit before taxes. This…
FirstBank Renamed its Subsidiaries in the UK and Africa.
The United Kingdom and Sub-Saharan Africa subsidiaries of First Bank of Nigeria Limited have received notice of a…
Federal Government $22bn Loan Request Rejected by Chinese Bank.
On Tuesday, the House of Representatives accepted the federal government's proposal to borrow $973,474,971.38 from…
CBN bars banks seeking upgrade from expansion
The Central Bank of Nigeria's new draft rules prohibit banks and other financial organizations applying for…
Bank Credit to the Government Reaches N28.43 trillion
In the first two months of 2023, banks' credits to the government increased by N3.77 trillion. According to data…
Nigerian Banks will Increase the Individual Cash Withdrawal Cap to N100,000
According to some bank executives, commercial banks are planning to increase their cash withdrawal limits from the…
Afreximbank, NEXIM, and FG Sign a $350,000 Agreement to Improve Water…
The Federal Ministry of Transportation, the Nigerian Navy, the African Export-Import Bank (Afreximbank), and the…
FCMB Initiates a N300 billion Capital Raise.
After the first tranche of the multi-tranche program was successfully completed, FCMB Group Plc, the parent…