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...

ICT Firms’ Borrowing From Banks Rises To N982.87bn   The loans obtained by the information, communication and technology (ICT) firms from banks rose from N952.06bn in January 2022 to N982.87bn in March 2022, according to data from the Central Bank of Nigeria. The CBN sectoral analysis of...

Why CBN Issues Guidelines For Open Banking In Nigeria The Central Bank of Nigeria has issued a regulatory framework for Open Banking in Nigeria as an effort to enhance financial services through data sharing across the banking payment systems. In a circular titled, ‘Operational guidelines for...

Nine Banks’ Non-performing Loans Rise, Now N814bn   The aggregate Non-performing Loans of nine banks increased to N814.08bn in 2021, representing a 3.16 per cent increase from the N789.14bn reported. The nine banks are Access Holdings Plc, Zenith Bank Plc, Wema Bank Plc, FCMB Group, Union Bank...