The Nigerian banking industry recorded N367.28 billion increase in profit before tax (PBT) in the third quarter of 2023 — which falls between July to September....
There are indications that mergers and acquisitions may happen soon in the financial sector in Nigeria after the Central Bank of Nigeria (CBN) hinted on the...
The naira redesign policy of the Central Bank of Nigeria (CBN) has led to an increase in banks’ profits from cashless transactions to N279.85bn in the...
Loans from the banking sector to the various sectors of the Nigerian economy rose to N8.03 trillion in H1’23 with the Oil and Gas, and manufacturing...
Nigerian banks have lost a whopping N9.5 billion to electronic frauds since the beginning of 2023. This is as the Nigeria Electronic Fraud Forum (NeFF), on...
Zenith Bank generated N269.99 billion in revenue in the first quarter of 2023, growing the turnover by N40.9 per cent year-on-year. This was disclosed in the...
Nine Nigerian banks listed on the Nigerian Exchange have recorded an increase in customer deposits in 2022. Checks on the banks’ unaudited financial records showed that...
Ten commercial banks in Nigeria have lost N87.4 billion in market value within a week of trading activities (March 2nd, 2023 to March 10th, 2023) on...
Data show that seven Nigerian banks in 12 months committed over N173.99 billion on the salaries and wages of their staff. This amount is 19.21 percent...
The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions (OFIs) under its regulation and payment service providers to search through their...
Nigerian banks have come out to deny hoarding the new naira notes amid strings of visits by security agencies to banks across the country. The Independent...
Nigerian banks are experiencing a period of growth, and it is expected to continue in the coming months. The volume of financial transactions performed electronically by...
Many Nigerians were left frustrated on Monday as cash, including old and new naira notes were unavailable from banks’ Automated Teller Machines (ATMs) in most parts...
Nigerian banks borrowing from the Central Bank of Nigeria (CBN) has increased to N11.15 trillion in 2022. Deposit Money Banks borrowed from CBN via the Standing...
Commercial banks in the last 24 hours have been sending messages to Nigerians announcing the availability of the new naira notes. In messages sent to their...
The second-tier banks continued to dominate the top five best-performing financial institutions in Nigeria, with only one tier-one bank making it into the list in the...
Nigeria Inter-Bank Settlement System (NIBSS) has revealed that banks registered a total of 4.8 million new Bank Verification Numbers (BVNs) in 2022. According to the data...
The Central Bank of Nigeria in the last two months has announced several policies that have raised eyebrows among Nigerians. From the new Naira notes to...
Nigerian banks have announced changes in the interest payment on loans collected by Nigerians. The changes followed the recent CBN increase in interest rate by 100...
Banks in Nigeria have provided updates on modifications to foreign exchange (FX) requests made by Nigerian students targeting schools abroad. The banks announced the changes in...
Trading this week will be held for four days due to the public holiday slated for Monday, October 3, to mark Independence Day. Stocks to watch...
Ten of Nigeria’s top banks received 5.7 million customer complaints in a year, from January 1 to December 31, 2021. The 2021 complaint figures represent a...
Twelve commercial banks have disclosed that between 2020 and 2021 they have donated a combined total of N41.8 billion as part of corporate social responsibilities. According...
Fitch, a credit rating agency as revealed that Nigerian banks can absorb up to $6 billion of credit losses without breaching minimum regulatory requirements for Capital...
Nigerian banks, to keep their directors, and chief executives happy, spent over N6.96 billion on sitting allowance and compensation in 2021. This is a 3.32 per...
For investors with Bank stocks in their portfolio, as the capital market enters into the second half (H2) of 2022, it’s important to know what went...
MTN Nigeria subsidiary, Momo Payment Service Bank Limited lost N22.3 billion following a security breach on the fintech’s system, which forced the company to shutdown operation...
First City Monument Bank (FCMB), through EasyAgents, its agency banking network and other channels, has successfully onboarded and empowered one million financially excluded Nigerians, ensuring they...
The Central Bank of Nigeria (CBN) has warned banks and other financial institutions in the country to be vigilant as regards transactions involving Benin Republic. Nigeria’s...
FastCash, the fastest-growing instant loan solution in Nigeria, is proud to announce its two millionth loan disbursement. All the loans disbursed by the platform are worth...
The Central Bank of Nigeria (CBN) has fined three commercial banks N800 million for allowing cryptocurrency transactions in the country. The apex bank had in a...
Nigerian banks leveraging on technology have helped pushed the total number of bank accounts in the country to 191.4 million as at the end of December...
Ten Nigerian banks showed resilience in 2021 despite competition from financial technology companies as they posted a combined profit after tax of N741.7 billion. The profit...
Nigerian banks could come under intense pressure as a result of the sharp ongoing decrease in foreign assets and weakening Naira. Data obtained from the Central...
Nigerian banks have posted a gross earning of N3.06 trillion in the first nine months of 2021, according to data collated from the third-quarter earnings of...
No fewer than 110 million bank accounts could become inaccessible with the passage of the finance Bill 2021 sent to the National Assembly by President Muhammadu...
Banks and Insurance firms in Nigeria are expected to collect over N22.6 billion from Ministries, Departments, and Agencies of the Federal Government in 2022. This is...
Nigerians looking to obtain foreign currencies for travels and businesses can now apply online, thanks to the Central Bank of Nigeria’s (CBN) deployment of an electronic...
Ten Nigerian banks have publicized the names and Bank Verification Numbers of over 1,000 customers who purchased dollars from them using fake visas and other deceptions....
Between January and November, Deposit Money Banks and Merchant banks’ borrowing hit N24.53 trillion indicating an increase of 315 percent when compared to N5.91trillion borrowed in...
Agent banking is the new money making machine for Nigerian commercial banks, as the lenders balance improving financial inclusion and increasing turnover. The Central Bank of...
Nigerian banks have informed customers and staff that from December 31, old £20 and £50 British pound notes will be rejected. In a circular seen by...
The Nigeria Deposit Insurance Corporation (NDIC) has revealed that 99.4% of bank accounts in Nigeria have less than the N500,000 Maximum Insured Limit (MIL) of the...
The Chairman of the Economic and Financial Crimes Commission (EFCC), AbdulRasheed Bawa, on Monday, decried the rising cases of fraud in banks and other financial institutions...
The federal and state governments borrowed at least N107.1 billion from Nigerian banks in the first five months of this year to make up for revenue...
Active bank accounts linked to Bank Verification Number (BVN) now stood at 47.9 million (47,981,081) as at May 9, 2021 data from the Nigeria Interbank Settlement...
The Speaker of the House of Representatives, Femi Gbajabiamila, has disclosed his intention to ensure that lawmakers commence an inquest into exploitative, and hidden charges being...
P+ Measurement Services, a Nigerian Independent Public Relations (PR) measurement and evaluation agency, has introduced “Get-Reports” a product that allows the purchase of PR performance audit...
Telecoms company, MTN Nigeria, has agreed to return to the old percentage for commission on Unstructured Supplementary Service Data (USSD) to Nigerian bank, after a meeting...
Nigerian banks got the most from their employees in 2020, on the back of adopting new technologies. Ripples Nigeria analysis of financial statements of eight commercial...
