In Six Months, Banks Lose N6bn to Fraud – Report Mobile fraud, computer/web fraud, and Point of Sale fraud cases made Nigerian banks to record 24,232 fraud cases in the first six months of 2023, a report by FITC has disclosed. The report was titled, “Reports...

Bank Customers Lose N472m To Fraudsters In Three Months - Report A report by FITC has revealed that bank customers in Nigeria lost N472m to fraud in the first quarter of 2023. It was also disclosed that there was a total of 12,553 cases of fraud...

Banks Total Credit Rises To N19.33trn       The total credit to the economy rose to N19.33tn in August as a result of the Central Bank of Nigeria’s policy on the Loan to Deposit Ratio. Central Bank Governor, Godwin Emefiele, disclosed this during the Monetary Policy Committee meeting...

CBN Returns N65bn Illegal Deductions To Bank Customers   The Central Bank of Nigeria says it has recovered over N65bn from commercial banks in the country for wrongful deductions and charges from customers’ deposits and other transactions in the last six years. The Acting Director, Corporate Communications,...

Bank Debtors : AMCON Recovers N731bn In 7years The Asset Management Corporation of Nigeria recovered N731bn from bank debtors since its inception in 2010 to December 2017. Out of this amount, properties accounted for approximately 35 per cent. The corporation has restructured its processes from within in...

NDIC Warns Of Impending Bank Failure The Nigeria Deposit Insurance Corporation has said another bank failure is imminent in the country on the back of weak corporate governance culture and weak internal control. The Managing Director, NDIC, Alhaji Umaru Ibrahim, stated this on Thursday at the...