The Nigeria Deposit Insurance Corporation (NDIC) has issued a clarification and refuted recent misleading reports circulating on social media with the headline “CBN Liquidates 20 Banks...
A recent analysis of data from the Central Bank of Nigeria (CBN) indicates that the total balance in domiciliary accounts within the nation’s commercial and merchant...
Six Nigerian leading banks report a 214% surge in profit to N2.06 trillion in the nine months ended September 2023. This impressive performance comes despite the...
In the realm of Nigeria’s financial sector, a disconcerting surge in bank fraud cases has rattled stakeholders and raised significant concerns about the country’s security of...
Guaranty Trust Holding Company Plc has announced a 155.2% increase in profit before tax to N433.2 billion for the period ending September 30, 2023. This substantial...
Today, two major international financial institutions, Standard Chartered Bank via its innovation, fintech and ventures arm SC Ventures in Singapore, and Deutsche Bank in Germany have completed the first...
Globally and in most of Africa profits are up, thanks to rising interest rates, but financial institutions need to reinvent themselves in the face of major...
Nigeria’s top seven most profitable publicly-listed companies have reported a total profit before tax of ₦1.89 trillion ($2.43 billion) in the first half of 2023. The...
Customer complaints to five major Nigerian banks have surged by an alarming 117% year-on-year, with the number of grievances skyrocketing from 3,156,704 in June 2022 to...
The African Export-Import Bank (AFREXIM) finds itself in a financial conundrum as it attempts to fulfill its commitment to provide a $3 billion loan to the...