13 Banks Generate N2.04trn Interest From Customers Loans, Securities Investment   A total of 13 banks generated N2.04trillion interest from customers loans, Securities investments, among others in first half year ended June 30, 2022 on the back of Central Bank of Nigeria (CBN) hike in the...

FG To Banks: Take Opportunity Of AfCTA’s N3.4trn   The Federal Government says the African Continental Free Trade Area (AfCTA) has opened up opportunities for the Nigerian finance industry. The government says the African free trade will create $3.4tn opportunity and deepen the financial technology space for...

Banks Ration Forex Sales As Scarcity Deepens   Banks have begun to reduce approval requests for Personal Travel Allowance and Business Travel Allowance to legitimate users. The legitimate users will be able to access forex only once in two quarters. Before this new development, the banks had been...

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...