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...

Banks Owe Telcos N17bn For USSD Access – NCC     The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, says commercial banks in the country owe telecommunication over N17bn for Unstructured Supplementary Service Data access. This debt, according to him, accumulated following the regulator’s...

22 Banks, Others Record N89bn Decline In Profit     At least 22 listed companies on the Nigeria Stock Exchange (NSE) recorded a drop in their Profit After Tax (PAT) by N89 billion in the first six months of 2020. The profit figure dropped from N457.6bn in 2019...

Banks’ Non-performing Loans Hit N1.2trn – CBN     Banks’ non-performing loans stood at N1.2tn as of the end of June according to figures obtained from the Central Bank of Nigeria on Monday. This amounted to about 6.4 per cent of the gross credit of the banks to...