The widening gap between Naira and dollar has helped Nigeria’s five big banks rake in N159 billion additional profit in nine months. This is according to...
The governor of Rivers State has threatened that the state government will shut down the premises of any bank or business organisation in the state that...
The Central Bank of Nigeria (CBN) has unveiled guidelines stipulating minimum requirements for enhancing cyber-security in the financial sector. According to the CBN the move is...
On Tuesday, the Central Bank of Nigeria (CBN) obtained a court permission to freeze the bank accounts of several fintech businesses in order to investigate their...
The stock market surpassed last week’s investments of 1.930 billion shares valued at N20.656 billion, which was exchanged in 24,687 deals. In a market report for...
Nigeria’s electronic payment ecosystem continues to show great potential, with transaction values reaching N130 trillion in the first six months of 2021. According to data obtained...
Active bank accounts linked to Bank Verification Number (BVN) now stood at 47.9 million (47,981,081) as at May 9, 2021 data from the Nigeria Interbank Settlement...
The disagreement between MTN Nigeria and deposit money banks over Unstructured Supplementary Service Data (USSD) payment affected the earnings of the telecommunications company. Ripples Nigeria gathered...
The Nigerian banking industry recorded a N166.29 billion or 15.69 percent increase in non-performing loans in 2020. The National Bureau of Statistics disclosed this in its...
Despite the Central Bank of Nigeria (CBN) warning against mass retrenchment, the banking sector in 2020 laid off 8,584 employees. The layoff occurred in commercial banks;...
Banks in Nigeria have reconnected mobile network giants, MTN to banking channels including the Unstructured Supplementary Service Data (USSD) and banking apps. The banks disconnected MTN...
Despite the Central Bank of Nigeria warning to banks on staff lay-off, eight lenders in the country sacked at least 3,754 workers last year, Ripples Nigeria...
Banks in Nigeria have disconnected MTN from banking channels including Unstructured Supplementary Service Data (USSD) and banking apps due to disagreement over earnings. Customers of Guaranty...
Starting from tomorrow, Thursday 1, April the old cheque book will no longer be accepted at the clearing house in line with the Central Bank Nigeria...
Nigerian banks have been instructed to open dollar accounts for their customers immediately they receive deposit requests from International Money Transfer Operators. WorldRemit- an International Money...
Between January and September 2020, 11 banks listed on the Nigerian Stock Exchange (NSE) generated a total of N42.8billion or N4.7 billion monthly, from account maintenance...
The Central Bank of Nigeria (CBN) has advised commercial banks to always accept the Machine Readable Convention Travel Document (MRCTD) issued by the Nigeria Immigration Services,...
At a period loans to the oil industry are non-performing, Nigerian banks still continue to pump credit into the oil market, with the latest beneficiary being...
Police operatives in Edo State have uncovered a plot by criminals to rob several banks and commercial centres across the state during the yuletide period. The...
The Oyo State government on Thursday shut down at least six hotels and four commercial banks over land use charges in the state. Seven companies and...
Commercial banks in the country are henceforth regulation-bound to get the nod of the Fiscal Responsibility and Commission (FRC) as parts of the precedent conditions for...
The National Union of Banks, Insurance and Financial Institution Employees has urged all its members to totally comply with the Nigerian Labour Congress (NLC) nationwide strike,...
The Central Bank of Nigeria (CBN) has barred parent companies or any other associated entities of Payment Service Banks (PSBs) from providing preferential treatment, which nullifies...
The Central Bank of Nigeria (CBN) has ordered deposit money banks to ensure that electricity distribution companies (Discos) pay for the consumed power they were provided...
The equity segment of the Nigerian Stock Exchange rallied on Wednesday as bank stocks dominated trade even though turnover, as it had been in recent time,...
Banks in Nigeria face higher borrowing costs and a monumental threat to revenues as the Central Bank of Nigeria (CBN)’s policies to bolster the naira creates...
The selling of telecommunications airtime by banks through their mobile apps and shortcodes, have been described as a way of choking out small individuals who are...
Inflationary pressure on the Naira might strengthen in the short term as the total currency in circulation enlarged from N2.29 trillion at the end of March...
54 per cent of business owners in Nigeria want commercial banks to reduce their interest rates by at least half, the Lagos Chamber of Commerce and...
House of Representatives on Wednesday resolved to investigate some commercials banks over alleged illegal and excess charges on public and private accounts. The lower legislative chamber...
Data obtained from the Nigerian Interbank Settlement System (NIBSS) show that the volume of transactions executed by bank customers in the country reached 1.65 million on...
According to the Central Bank of Nigeria (CBN), the total exposure of Deposit Money Banks to the Nigerian economy climbed up to N22.61 trillion in October....
The Ondo State Police Command has assured residents and the banking community in the state of adequate security against alleged threats by the insurgent group, Boko...
The Chief Executive Officer (CEO) of the Nigeria Financial Intelligence Unit (NFIU), Moddibo Hamnan Tukur, said on Tuesday that the agency tracked and reversed $1.5 million...
A Central Bank of Nigeria’s (CBN) Financial Stability Report for 2018 has shown that seven banks are not adequately funded if there was a bank run...
The International Monetary Fund (IMF) has raised concerns about the proposed increase in Value Added Tax (VAT), of which the proposed 2020 budget was partly predicated...
Workers in the financial sector on Monday vowed to shut down banks and other financial institutions across the country over the increasing casualisation of workers in...
The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe....
In adherence to the directive by the Nigerian Financial Intelligence Unit (NFIU) which has barred state governments from spending funds meant for local governments, banks have...
The Governor of Imo State, Emeka Ihedioha, has stopped banks from hououring cheques and transrers instructions in the name of the government. The governor’s order is...
House of Representatives has said it would be compelled to issue bench warrant against bank Chief Executive officers, CEO if they fail to appear before an...
The Federal Government is about concluding arrangements with three commercial banks in the country for establishment of a single digit interest loans for buyers of new...
Disappointed by the meagre N33 billion so far declared as stamp duty collection in the country, the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, has announced...
Nigerian banks have been advised to collaborate and share vital information on cybercrime. This, according to experts, would enable the financial institutions win the battle against...
Banks and Telecommunications operators in the country, Tuesday, traded blames over the rising cases of financial frauds perpetrated in the country through telecommunications networks. The financial...
Banks and other financial institutions are to pay N2.5 million in fine for the use of unapproved e-payment solutions in the country. This is contained in...
BANKS are scrambling to recover huge loans from lawmakers before the 8th Assembly rounds up in June. Investigations showed that in 2015, at the beginning of...
The Central Bank of Nigeria (CBN) and MTN Nigeria have finally reached a settlement on the issue of the $8.1 billion claimed to have been illegally...
The Central Bank of Nigeria (CBN) has warned banks in the country to enhance their reporting on fraud related cases in accordance to its directives, adding...
The National Bureau of Statistics (NBS) has said that non-performing loans of Nigerian banks stood at N2.245tn as of the end of September 2018. Accordingto the...
