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…
…blame inflation, multiple risks on business not banks — Analysts …CBN member calls on orderly withdrawal of forbearance on restructured loans By Ariemu Ogaga & Matthew Denis, Abuja Banks and customers are in collision course over plans to hike interest…
By Kayode Tokede With the COVID-19 pandemic, eight banks have reported 21.2 per cent dropped in Real Sector Support Facility (RSSF) to N143.68billion in 2020 from N182.26billion reported in 2019. RSSF represents the outstanding balance on the on-lending facility granted…
By Kayode Tokede Amid COVID-19 lockdown, Zenith Bank Plc, among three other leading banks in the country reported N74.7 per cent increase in Information Technology (IT) and Electronic-businesses expenses to N51.63billion in 2020 as against N29.55billion reported in 2019. The…
By Kayode Tokede A total of N211.9billion impairment charges by six banks operating in the country weaken profit before tax in 2020, investigation by Nigerian NewsDirect has revealed. These six banks’ impairment charges in 2019 was N116.56billion. Analysts had expressed…
By Kayode Tokede …as Senate invites Emefiele, Yuguda, over Cryptocurrency ban Investigations have revealed that Nigerians linked with cryptocurrency trading have allegedly had their bank accounts closed by their respective banks. This is in lieu of Nigeria’s apex bank directive…
Banks have warned customers of fraudsters who are taking advantage of the National Identity Number (NIN) exercise of the federal government to access their mobile phone to steal vital information. Specifically, FCMB in a message to its customers stated that,…
