It is not going to be a journey as usual for banks, companies and individual operators behind activities aimed at undermining the extant policy on the...
The recent announcement by telecoms giant, MTN, that it would soon apply for a Payment Service Bank (PSB) licence and launch mobile banking in Nigeria by...
The National Pension Commission, PenCom, has said Nigerian banks borrowed a total of N764.32bn from pension funds under the Contributory Pension Scheme, CPS. The commission added...
AVERSION for credit risk may have begun to take more serious toll on top banks in Nigeria, otherwise referred to as tier-1 banks. Consequently, despite massive...
As the nation grapples with the issue of Skye Bank takeover, the bank’s shareholders, University Dons, Professors Franklin Ngwu and Uche Uwaleke have prescribed ways to...
For their incessant practice of shooting television commercials (TVCs) and other advertising campaigns in foreign countries, Nigerian banks, telecommunications companies and other multinationals have been accused...
The Nigerian National Petroleum Corporation (NNPC) has denied media reports alleging that the Nigeria Police Force (NPF) recovered $470.5 million and N8 billion of the corporation’s...
The Central Bank of Nigeria (CBN) said it was reviewing the information provided by Nigeria’s telecommunication giant, MTN Nigeria, and four banks it recently sectioned over...
The Central Bank of Nigeria (CBN) said it will impose N10,000 fine per item for every failed NIP transaction caused by any financial institution operating in...
NOT a few financial market experts are shocked by the banks’ suspension of Bureau de Change (BDC) operations over taxes on turnover volumes. But, many of...
The staff strength in the nation’s banking sector rose by 12 per cent in the first half of 2018 from 90,923 staff recorded at the end...
WHERE is the N720 billion “invested” by the National Health Insurance Scheme (NHIS) in 12 years? Nobody seems to have an answer. Not even NHIS boss...
To reduce their exposure to huge indebtedness, the state governments can no longer borrow from the banks or the bond market without the express approval of...
Despite the improving macroeconomic environment, the banking industry seems likely to continue to grapple with Non-Performing Loans (NPLs), in the short-term at least, as financial results...
In a bid to ensure full compliance of the new CBN forex directive, the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, on Monday embarked...
Shareholders of Money Deposit Banks (MDBs) and discount houses in Nigeria expecting dividends for their investments have had their hopes dashed. The Central Bank of Nigeria...
The Nigerian Civil Aviation Authority (NCAA) and the National Association of Nigeria Travel Agencies (NANTA) have vowed to go after unregistered travel agencies often accused of...
Many customers of Deposit Money Banks on Sunday expressed dissatisfaction with the poor quality of service of the various Automated Teller Machines managed by banks in...
The Senate, on Tuesday, instructed its standing committees on Finance and Banking, Insurance and other Financial Institutions to probe allegations of unremitted stamp duties revenue, valued...
The total amount of stamp duty collected on deposits in bank accounts across the Deposit Money Banks has yielded N13bn to the Federal Government, investigation has...
Sterling Bank and Diamond Bank, the two financial institutions said to have been torched by a mob protesting the killing of a tanker driver by a...
Banking stocks spurred Nigerian equities to a strong start on Monday, extending the bullish rally at the stock market to the third consecutive trading session. With...
The Senate, on Tuesday, came hard on commercial banks in the country and the Central Bank of Nigeria (CBN), accusing them of strangulating Small and Medium...
The Senate has commenced investigations of some banks over alleged collusion with International Oil Companies (IOCs) to defraud the country. Over $62,909,716,417 billion is said to...
For failing to sell dollars to small entrepreneurs, not less than 12 commercial banks have been sanctioned by the Central Bank of Nigeria (CBN), as at...
Pressure on commercial banks in Nigeria to meet obligations on foreign exchange purchase on Friday raised the interbank lending rate by 20 per cent, hitting 70...
The Senate, on Wednesday, declared that over N30 trillion has been round tripped by virtually all the commercial banks in the country from 2006 till date...
The Central Bank of Nigeria (CBN) has issued a directive to all deposit money banks to fulfil remittances of five per cent profit after tax (PAT)...
A report by Russian cyber security firm, Kaspersky claims that a cyber security firm backed by the government of North Korea were targeting financial institutions in...
The Federal Government may have succumbed to pressure from international institutions to reform some of the special banks, including the Federal Mortgage Bank, Bank of Industry...
The Senate, on Tuesday, said local contractors’ debt in the country is currently estimated to be N2 trillion. The debts, the Senate noted, are those owed...
Miffed by the attitude of some banks in the state, which have refused to remit funds collected from customers in form of taxes, the Enugu State...
One of the international rating agencies, Fitch Ratings, has lowered the rating of the Nigerian-based Bank of Industry (BOI) from B+ to B category. In the...
Defaulting revenue collecting banks have refunded N4.2 billion to the Federation Account, the Revenue Mobilisation, Allocation and Fiscal Commission, RMAFC, has disclosed. RMAFC’s acting Chairman, Shettima Gana,...
The inability of Nigerian government to fully explore the revenue potentials in the solid mineral sector, coupled with banks’ unwillingness to advance loan facilities to the investors have been depriving the country of an estimated $2.65 billion...
Contrary to belief that it is only the oil and gas sector that has been putting the banking sector at high risk with non performing loans, it has now been...
The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, has disclosed that the commission is investigating former First Lady, Patience Jonathan. Magu stated this...
The Nigerian Communications Commission, NCC, has said it has discovered 41 companies providing internet/data services in the country without authorisation. The NCC stated this in its...
The Central Bank of Nigeria, CBN, has threatened to sanction Deposit Money Banks, DMBs, frustrating its intervention in the power sector through the Nigeria Electricity Stabilisation...
The Central Bank of Nigeria, CBN, has lifted the ban placed on banks suspended from dealing in foreign exchange. The lift of the ban was announced...
The non-performing loans (NPLs) in Nigerian banks rose from 68 per cent in 2015, to 78 per cent in May 2016. According to the Central Bank...
The suspension of nine commercial banks from participating in Nigerian foreign exchange market has resulted in investors selling off their shares in panic at reduced values...
If the current effort by Nigerians living outside the shores of the land is sustained, naira, the local currency may soon regain some lost grounds against...
The Central Bank of Nigeria, CBN, has increased banks’ weekly dollar sales to Bureaux De Change, BDCs, from Diaspora-related foreign exchange, from $30,000 to $50,000. This...
The Police Special Fraud Unit (SFU) yesterday arraigned three men at the Federal High Court in Lagos for allegedly obtaining i-Phones worth N35million from an online...
More facts have emerged on why the CBN directed banks in Nigeria to cancel 25 per cent of the total $1.9bn (N600 bn) non performing loans...
The Central Bank of Nigeria, CBN, on Tuesday directed authorised dealers to sell foreign exchange cash to BDCs subject to a maximum of $30,000 to a...
The capital market will witness a massive return of the banks before the end of the third quarter of the year. It is believed to be...
The Central Bank of Nigeria (CBN) has directed commercial banks to immediately start the process of extending dollar loans to their customers. This is seen as...
Following what it described as “an increase in volume of non-performing insider loans|” in Nigerian banks, the NDIC says it is devising a new approach in...
