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...

Pressure On Banks Over Consumer Loans Money Market         A Central Bank of Nigeria, CBN, Survey Report has shown that banks experienced higher loan default rates on credit cards and overdrafts/ personal lending to household in the third quarter of the year (Q3’20). The survey also noted...

LCCI Seeks Compensation For Looted Businesses Indebted To Banks       Grieved by the loss of lives, property, and livelihoods triggered by recent peaceful EndSARS protests, the Lagos Chamber of Commerce and Industry (LCCI), has urged banks to be compassionate to looted businesses that are indebted to...

CBN Orders Banks To Clamp Down On COVID-19 Financial Crimes         The Central Bank of Nigeria has advised all banks to update alert protocols in their Anti-Money Laundering/Combating the Financing of Terrorism monitoring tools, in line with the red flags and emerging trends arising from the...