Banks Cancel N1.9trn Bad Loans     Commercial banks have written off N1.9 trillion bad loans from their books in the last four years, a report by Agusto & Co, a credit rating agency has said. This was contained in the Agusto & Co 2020 Banking Industry Report...

FG, States, LGs’ Borrowing From Banks Now N954.27bn   Bank loans to the different levels of government and the national economy have continued to grow steadily as the banking sector moves to put its non-performing loans under control. The total loans taken by the federal, states and...

Customer, Bank Errors Push PoS Failed Payments To 16%     Nigerians continue to experience declined transactions on Point of Sale terminals all over the country as failed transactions hit 296,528 on Thursday evening. Live transaction updates obtained from the Nigeria Inter-Bank Settlement System showed that payment on...

Loan: Banks To Place Chronic Defaulters On Watch List   the Central Bank of Nigeria on Monday released the guidelines aimed at reducing non-performing loans in the banking sector and monitoring chronic loan defaulters. The CBN released the guidelines through a circular to all banks and other...

Oil, Power Firms Owe Banks N5.59trn - CBN   Energy firms in the country owe Nigerian banks a total of N5.59tn, the sectoral analysis of banks’ credit by the Central Bank of Nigeria has revealed. The N5.59tn represents 30 per cent of the N18.63tn loans advanced to...

CBN Lends N660bn To Banks For Liquidity Control     Commercial banks and merchant banks have accessed N660 billion loans from the Central Bank of Nigeria (CBN) to control their liquidity positions and maintain industry stability. The CBN Economic Report, which captured transactions in the last three months,...