…Zenith Bank, GTCO, UBA lead way with strong financial performance In a promising development for the Nigerian banking sector, eight Deposit Money Banks (DMBs) have collectively generated approximately N3.9tn in gross earnings during the first half of the 2023 financial…
…Aims to strengthen financial stability By Sodiq Adelakun Commercial banks in Nigeria have been instructed by the Central Bank of Nigeria (CBN) to refrain from using their foreign exchange revaluation gains for dividends and operational expenses. The directive, which was…
The Central Bank of Nigeria (CBN) has urged Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be take counter security measures to tackle financial risks that may want to circumvent the system. The regulatory urged…
Shareholders have called on financial institutions to work together to get regulators to reduce fines and other charges paid to them. The call came as shareholders expressed concerns over the amount financial institutions w pay to regulators and to the…
The juicy foreign exchange earnings of Nigerian banks have come under intense pressure due to low dollar economic activities, analysis and expert opinions have said. Available data gleaned from the Nigerian Exchange Group (NGX) showed five banks- Stanbic IBTC Holdings,…
Six Deposit Banks in Nigeria received 4,595,628 million complaints from their customers within a period of one year with the total amount of refund being claimed hitting N137.62 billion. This was disclosed in the banks’ audited financial reports for the…
…Cash circulation still short of demand, mixed experience for Nigerians …Stakeholders task CBN to stabilise economy By Seun Ibiyemi, Olumide David, Mathew Dennis, Ismail Azeez As the Central Bank of Nigeria (CBN) declared old Naira notes of N200, N500,…
Governor Dapo Abiodun of Ogun State has again threatened to lock up banks, stores or supermarkets that refuse to accept the old N500 and N1000 notes. Abiodun said he would deal with any trader or service provider that refuses to…
…Direct customers to follow CBN guidelines for deposit …Stakeholders lament failure of electronic platform …Nigerian economy loses N20 trillion over cash crisis — Muda Yusuf …NSCDC raises concerns over circulation of fake redesigned Naira notes By Seun Ibiyemi Barely 10…
By Olumide David Banks in Awolowo road, one of the longest street and the most populated street with bank branches in Lagos were found not dispensing cash yesterday. Polaris, Gtbank, Union Bank, Unity bank, First bank, Heritage bank, FCMB, Access,…
