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...

Banks Shouldn’t Lend To States Without Our Approval – FRC       The Fiscal Responsibility Commission said on Sunday that no Deposit Money Bank should lend money to any state without the approval of the commission. The FRC said this was in line with the provisions of the...

PoS, Mobile Transactions Decline In August       The volume and value of transactions through Point of Sale (PoS) terminals and Mobile Interscheme transfers (Mobile phones) declined in August. Analysis of the current Electronic Payment Channels data from Nigeria Interbank Settlement System (NIBSS) showed that the volume of...

FG Apologises For Asking All Bank, Other Account Holder To Re-register       The Federal Government has apologised for asking all account holders in the country’s financial institutions to register their details again. Economic Confidential reports that the FG earlier asked all account holders in banks, including insurance...