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…
…As Committee uncovers additional N5.2bn unremitted revenue, operating surplus others by NIPC in six years By Uthman Salami, Matthew Dennis and Ariemu Ogaga Reactions are continuing to trail the discovery of over N300 billion in commercial banks by the House…
…Uncovers 45.85m bank accounts without BVN Abimbola Abatta Commercial banks in the country have refused to remit N1.2trillion collected on behalf of some key Ministries, Departments and Agencies (MDAs) of the Federal Government. The House of Representatives disclosed this on Wednesday,…
…Economic recovery remains very weak, fragile — Expert …Development finance interventions hits N326.22bn in July By Kayode Tokede The Central Bank of Nigeria (CBN) on Thursday said total assets of the banking industry hit N53.64 trillion in June 2021, up…
By Kayode Tokede Kaduna State Internal Revenue Service (KADIRS) sealed the head offices and other branches of four banks in Kaduna on Monday over N300.5 million unpaid taxes. KADIRS Executive Chairman, Dr Zaid Abubakar, identified the affected banks as FirstBank,…
By Aanu Olaleye with News Agency An economist, Prof. Sheriffdeen Tella, on Tuesday urged commercial banks to legitimately sell Foreign Exchange (Forex) to customers to enable the exchange rate of the naira to the dollar appreciate. Tella, a Professor of…
Deposit Money Banks (DMBs) on Monday commenced sales of dollar at N412 to retail customers that meet required documentations. This is in compliance with the new Foreign Exchange (FX) regulation by the Central Bank of Nigeria (CBN), commercial banks have…
By Kayode Tokede Union Bank of Nigeria Plc, Stanbic IBTC Holdings Plc, Sterling bank Plc have reported N81.8billion bad loans or Non-Performing Loans (NPL) in 2020. The NPL reported by these three Tier-2 banks dropped by nearly three per cent…
