CBN’s Policy Blocks Investors, Banks From N622bn Illegal Earnings         The new Treasury Bills policy of the Central Bank of Nigeria, CBN, has effectively obstructed about N622 billion interest earnings that would have accrued to banks and other individual and corporate investors in the money market. The...

Banks Divert Loans To Public Sector         In apparent demonstration of low confidence in the economy, banks are focusing their lendings to the public sector to the detriment of the private sector. Despite the increased tempo of economic activities following the lifting of the Coronavirus induced economic...

Banks’ Average Daily Deposit With CBN Drops To N48.32bn       The Central Bank of Nigeria (CBN) says the average daily deposit amount of N84.27 billion in 246 transaction days in 2018 dropped to N48.32 billion in 251 transaction days in 2019. This was contained in the bank’s...

Bad Loans: Banks Reduce Consumer Credits By 11%       Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was...

CBN To Assess Risks Of Banks With Cross-border Expansion       The Central Bank of Nigeria has said it will introduce guidelines to assess the level of exposure of banks with international authourisation that are engaging in cross broader expansion. This would enable it to monitor the risks...

Banks Provided N1.8trn, $1.36bn, €10.92m Loans To MSMEs - CBN         Based on the financing statements registered on the National Collateral Registry in respect of movable assets offered as collateral, lending banks availed credit amounting to N1.80tn, $1.36bn and €10.92m to Micro, Small and Medium Enterprises...