Cashless Policy: Banks to Charge 3% on Deposits The Central Bank of Nigeria on Tuesday directed all Deposit Money Banks to effect charges on deposits and...
CBN Directs DMBs to Dishonour Non-electronic Payment of Salaries, Others Payment of salaries, pensions, and taxes of public and private companies must be done through approved...
Kuda Raises $1.6m to Kick Off Online Bank in Nigeria A Nigerian digital retail bank, Kuda, just raised $1.6 million in pre-seed funding to kick-off operations...
Stanbic IBTC Introduces Educational Payment Products To Usher Students Back To School As another school year beckons, Stanbic IBTC Bank PLC, a member of Stanbic IBTC...
Loan Defaulters: Lenders to Seize Deposits in Other Banks As Nigerian banks moved towards implementing the new 60 percent loan-to-deposit ratio directive in September, lenders and...
Banks Spend N42.7bn on Foreign Software in Two Years Growing technological integration and the need to cut operational cost and improve the convenience of banks’ transactions...
Central Bank Caps Banks’ Exposure to Non-performing Loans In a bid to put a lid on banks and other financial institutions’ exposure to non-performing loans, the...
Firms, Individuals Owe Banks N15.480 Trillion The high debts in the banking sector are not just owed by businesses but also individuals, according to the recent...
GTBank on Track to Meet CBN’s 60% LDR Directive -Agbaje Guaranty Trust Bank (GTB), Nigeria’s tier-I bank, has said it is on track to meet the...
Bad Loans: Power Firms Owe Over N100bn The National Bureau of Statistics put the total non-performing loans accrued to the power sector at N100.42 billion. According...