Residents of Calabar city in Cross River state, on Monday stormed the various commercial banks in search of cash. Newsmen, who monitored the situation of the ongoing cash crunch in the country, reports that there were long queues at the…
Nigerian banks on Monday denied allegations of fuelling the scarcity of the redesigned naira notes across the country. The Association of Corporate Affairs Managers of Banks, ACAMB, empathized with the public on the hardships consequent upon the rollout of the…
By Ogaga Ariemu President Muhammadu Buhari has said some banks are simply inefficient and selfish as Nigerians continue to suffer from the currency crisis. Buhari made this disclosure on Friday in a statement by Garba Shehu, the Senior Special Assistant…
The maximum lending rate for Nigerian banks rose to 29.13 per cent in December 2022 from 28.14 per cent recorded in the previous month and 27.58 per cent in the corresponding period of 2021. Lending rates increased on the back…
The NGX banking index grew by 0.25 per cent to close the week at 399.15 points, up from 398.16 last week. The market capitalisation of the top five banks in Nigeria, which are FBNH, UBA, GTCO, Access holding, Zenith Bank…
Investors of the top five banks in Nigeria, otherwise known as tier-1 banks or FUGAZ, gained a total of N24.6 billion during the trading week. This was as the market capitalisation of the FUGAZ appreciated by 1.22 per cent to…
Deposit money banks sacked 1,936 workers last year, according to the National Bureau of Statistics. The affected workers included executives, senior, junior and contract staff, the ‘Selected Banking Sector Data’ of the NBS stated. The workers were drawn from commercial,…
Twelve Nigerian banks listed on the Nigerian Exchange (NGX) paid N62.41 billion to the Nigerian Deposit Insurance Corporation (NDIC) as deposit insurance premium in the first half of 2022. This represents a 15.4 per cent increase compared to N54.07 billion…
Banks’ operational costs have continued to rise in recent months over the uptick in inflation, hike in diesel pump price, high energy prices, and exchange rate crises. To reduce the impact of these challenges on their profitability, banks like Access…
…As NPL of Union Bank, FCMB, Sterling Bank rise by 1%, 46%, 60.6% …Bad loans due to inflation, insecurity, other economic realities — Chizea By Uthman Salami, Ariemu Ogaga, Matthew Denis and Philemon Adedeji A total of four banks Non-performing…
