USSD Disconnection: Emefiele, Danbatta, Pantami Meet Telcos, Banks Today         Governor of Central Bank of Nigeria, Godwin Emefiele, Minister of Communications, Dr Isa Pantami, and the Executive Vice Chairman of the Nigeria Communications Commission, Prof Umar Danbatta, will on Monday meet banks and telecoms operators over...

Banks Lost Over N5bn To Fraudsters In Nine Months — NDIC       The Nigeria Deposit Insurance Corporation (NDIC) has stated that it is in collaboration with sister agencies in law enforcement to curtail cybercrimes especially in the financial system. Speaking at the annual capacity building programme for...

Oil, Power Firms’ Bank Debts Rise To N5.94trn     The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent...

Banks’ Total Credit To Economy Hit N25trn In 2020         Banks’ total credit to the economy rose to N25.02tn as of the end of 2020, the Central Bank of Nigeria has said. This was disclosed during the Monetary Policy Committee meeting in Abuja on Tuesday. Delivering the committee’s...

Banks Should Obtain Borrowers’ Records From Credit Bureaus – CBN         The Central Bank of Nigeria has instructed lending institutions to obtain reports of borrowers from credit bureaus as part of their due diligence in granting loans. It also said the operations of private credit bureaux would...

Despite COVID-19 Disruptions, Banks Attract N37trn Deposits         Despite the disruptive impact of the COVID-19 and the attendant lockdown, the nine months 2020 financial results of 13 commercial banks have shown that they raked in a total of N36.759 trillion as customers’ deposits. This represented an increase...