Banks’ Investments In Software Rise To N46.2bn     Ten Deposit Money Banks reported fresh investments valued at N46.2bn in software in the first three months of the year in order to deliver hitch-free digital banking services to customers. Findings showed that in the first quarter of the...

Banks At Risk Of Loan Default - CBN Deputy Gov     The Deputy Governor, Financial Systems Stability Directorate, Central Bank of Nigeria, Aishah Ahmad, has said banks face imminent risk of loan default from exposure to oil-related lending. However, Ahmad, who is also a member of the...

Customers Carry Out 3.11m E-transactions As Banks Reopen   Bank customers across the country carried out over three million online instant payments on Nigeria Interbank Settlement System Instant Pay platform as Lagos and other states’ residents eased the one-month long lockdown. Live updates provided by the NIBSS...

Eleven Banks Paid N8bn IT Levy In 2019     Eleven Nigerian banks paid about N8.08bn Information Technology-related levies to the government in 2019, the audited financial reports of the banks have shown. Analyses of the financial reports indicated that this is a reduction of N381.12m over the...

Banks Recorded N11.44trn Online Payments In March   Bank customers carried out a total of N11.44tn worth of financial transactions on the Point of Sales and Instant payment and electronic bills platforms in March, the latest data from the Nigeria Inter-Bank Settlement System have shown. This shows...

Banks Recorded N1.05trn Bad Loans In 2019 – NBS   Banks’ non-performing loans amounted to N1.05tn as of December 2019, the National Bureau of Statistics said on Wednesday. The bureau also gave the gross loans of the banking sector as N17.56tn in the review period. The figures were...