The Central Bank of Nigeria (CBN) has fined Deposit Money Banks (DMBs) ₦150 million for failing to make Naira notes available through ATMs during the holiday season. The action follows ...
In 2023, digital banking channels brought in roughly N438bn for 10 financial institutions, an analysis of their annual reports has shown. Compared to the previous year, the banking groups’ earnings ...
For flouting regulations, nine financial institutions paid N678m fines in 2023, according to The PUNCH analysis of their annual reports. Last year, the financial groups were more regulatory compliant, as the fine ...
Some banks have started the implementation of the Central Bank of Nigeria’s directive on the extension of the commencement of processing fees on deposits. On May 1, banks resumed the ...
Amid tight monetary policy and economic contractions, the loan portfolio of Nigeria's main deposit money banks increased by 57% to N37.17 trillion in 2023, up from N23.68 trillion in 2022. ...
The Nigeria Inter-Bank Settlement System has said that financial institutions lost about N17.67bn to fraud in 2023. This was disclosed in its Annual Fraud Landscape (January to December 2023) which was published ...
The Association of Corporate & Marketing Communication Professionals of Banks has said that Nigerian banks are well able to meet the new recapitalisation requirements of the Central Bank of Nigeria. ...
In the last two weeks, the Central Bank of Nigeria and other banking institutions have improved dollar supply to the foreign exchange market by $2.5bn, making the naira strengthen to ...
The Central Bank of Nigeria has reiterated that banks operating in the country cannot use their foreign exchange revaluation gains to pay dividends or meet their operational expenses. In a ...
The Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70 per cent of the financial crimes in Nigeria. EFCC’s Chairman, Ola Olukayode, disclosed this ...
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