In Five Years, Banks Attracted $15.8bn Foreign Capital Flow   From 2017 till the end of last year, Nigeria’s banking sector received a total of $15.83 billion in foreign capital, a telling reflection of the sector’s attraction to the international market. The figure represents 23 per cent...

Seven Banks Rake In N570.43bn Interest On Loans H1, 2022   A total of seven banks generated N570.43 billion from loans granted to customers in the first half (H1) of 2022 amidst the hike in the Monetary Policy Rate (MPR). Investigation revealed that the seven banks had...

Bank Borrowing From CBN Increases By 27% To N4.5trn   Amid a rising liquidity crunch, banks operating in Nigeria borrowed a whopping sum of N4.5tn from the Central Bank of Nigeria in July, an increase of 27 per cent Month-on-Month from N3.6tn borrowed in June 2022. Banks...

OPS and Banks Brainstorm Economic Growth Synergies Nigerian banks and the Organised Private Sector has said they will address critical areas of concerns and strategise to create sustainable synergy between the financial services sector and other businesses. A statement said at the first national stakeholders’ conference...

Banks Record N1.21trn Non-performing Loans   The total non-performing loans in the banking sector hit N1.21tn as of the end of February 2022, figures obtained from the Central Bank of Nigeria (CBN) have revealed. The CBN stated in reports obtained from the Monetary Policy Committee that the...

NDIC Gives Vote of Confidence to Banks   The Nigeria Deposit Insurance Corporation (NDIC) says the banking sector is now immunized to shocks that may invade the economy and the financial system. Despite Nigeria's economic woes, including impending food shortages and rising inflation, NDIC noted that banks...