Banks’ Credit To Private Sector Rises To N30.189trn     Banking sector’s credit to the private sector rose by N757 billion or 2.57 per cent to N30.189 trillion as of July 2020, compared with the N29.432 trillion it was at the end of June. Latest money and credit...

CBN Bans Special Treatment For Payment Service Banks       The Central Bank of Nigeria has prohibited parent companies or any other related entities of a Payment Service Banks from offering any preferential treatment, which negates fair competition, to its subsidiaries. This was contained in a circular to...

Banks Recovered N50.32m Bad Loans Within Nine Days – CBN     Director, Financial Policy and Regulation at the Central Bank of Nigeria, Mr. Kevin Amugo, says Nigerian banks recovered about N50.32m bad loans from debtors within nine days after the country commenced operations of the Global...

Scarcity Disrupts Banks, IOCs, Telcos’ Forex Payments     There are indications that the lingering foreign exchange scarcity in the country is slowing down banks’ ability to meet their payment obligations that are denominated in dollar. Sources said that banks have been having long waits to access dollars...

Teens Digest Recommends 10 Banks for Teenagers’ Saving   The Teens Digest, a newly created web portal for young minds, has examined and recommended some banks in Nigeria that are safe and suitable for kids and especially teenagers in saving their cash. In listing the banks, the...

Banks’ Loans Hit N33trn In 12 Months   Macroeconomic and Fixed Income Researcher at FBNQuest, Gregory Kronsten has listed the macroeconomic impact of the Covid-19 pandemic on the population. In a report, he said one bright spot has been the 21 per cent increase in the loan...