By Seun Ibiyemi Banks across Nigeria are urging the Federal Government to introduce tax incentives and reliefs for financial institutions that channel funds into infrastructure and mining projects—drawing on models already adopted in countries such as China and Brazil. The…
Banks in Nigeria have appealed to the Federal Government to introduce tax incentives and reliefs for financial institutions that fund infrastructure and mining projects, similar to practices in countries like China and Brazil. Chairman of the Body of Banks’ Chief…
The Nigeria Deposit Insurance Corporation (NDIC) has appealed for the continued support of external solicitors’ of the Corporation in facilitating debt recovery and assets realisation of failed banks. Mr Hassan Bello, the Managing Director of NDIC, made the appeal at…
By Seun Ibiyemi Fitch Ratings, a leading provider of credit ratings, commentary and research, has said that Nigerian third-tier banks are more likely to pursue mergers and acquisitions (M&A) or downgrade their licences as they strive to meet the Central…
In light of growing operational costs, the Central Bank of Nigeria (CBN) has put an end to free ATM withdrawals at banks other than the card-issuing bank. This move comes amidst rising financial pressures and aims to streamline the costs…
The Banking sector recorded a strong start to the year, with the NGX Banking Index surging by 9.76 percent in January, significantly outperforming the broader market, according to a corporate report obtained from the Nigerian Exchange Group on Tuesday. The…
The Federal Ministry of Finance has proposed a N75 million allocation in its 2025 budget to monitor the activities of banks and financial institutions through its Home Finance Division. This funding is aimed at strengthening oversight and ensuring regulatory compliance…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has vowed to impose a N150 million fine per branch on any bank releasing naira notes to currency hawkers in the country. The CBN gave the warning in a circular signed…
Vice President Kashim Shettima has called on the Central Bank of Nigeria and commercial banks to urgently address the growing concerns surrounding high and arbitrary charges imposed by Point-of-Sale operators, which he described as an impediment to financial inclusion in…
The Securities and Exchange Commission on Monday, revealed that banks and other companies raised N2.7tn from the capital market in the first 11 months of 2024. It said the sum was generated through various investments, securities, and financial instruments in…
