Power Firms Owe Banks N820bn Amid Sector's Lingering Problems     The debt owed to Nigerian banks by operators in the power sector rose by 11.85 per cent in one year to N819.97bn in August this year amid the lingering problems plaguing the sector since it was...

Five Banks’ Interest Income Drops To N376bn, Experts Blame CBN Cash Reserve Policy       The combined net interest income of five publicly-quoted commercial banks has declined by N48.69bn in the last one year, according to the financial statements of the lenders analysed by our correspondent. Specifically, the...

Manufacturers Owe Banks N3.71trn, Borrow N520bn In Eight Months   Operators in the nation’s manufacturing sector saw their combined debt to Nigerian banks rise to N3.71tn as they borrowed N520bn from January to August. Banks’ credit to the sector by 16.3 per cent in the eight-month period...

Four Banks Borrow $6.21bn From Foreign Market Amid Dollar Shortage     In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from foreign creditors between January and October 2021. An analysis of reports shared on the issuer’s portal of...

CBN, SEC Sanction Five Banks Over Money Laundering, Forex Offence    The Central Bank of Nigeria and the Securities and Exchange Commission have sanctioned five major banks for committing over 20 various infractions, including the violation of foreign exchange market and anti-money laundering regulations. The banks are...

Pension Funds Invested In Banks Rise To N2.05trn – PenCom   The total amount of pension funds invested in banks by Pension Fund Administrators rose to N2.05tn at the end of July from N1.48tn in January. The National Pension Commission disclosed this in its report, titled ‘Unaudited...