Banks Retrieve N39.4bn Non-performing Loans From ICT Sector   Nigerian banks recovered N39.4bn non-performing loans from its debtors in the Information and Communications Technology sector in one year. As of September 2019, the NPL in the ICT sector stood at N76.54bn as against N115.94bn in the corresponding...

Stock: Investors Lose N128bn, Dump Banks’ Shares   Investors in the nation’s equity market lost a total of N128bn as the equities market reversed gains recorded in previous sessions. Investors embarked on selling spree, with banking shares experiencing the most sell-offs. Analysts at Afrinvest Securities Limited said the...

In Nine Months, 13 Banks Pay N136.84bn Tax   Thirteen commercial banks listed on the Nigerian Stock Exchange paid N136.84bn in taxes to the Federal Inland Revenue Service in the nine-month period ended September 30, 2019. Data obtained from the financial statements of banks for the period...

Banks Commence Implementation Of Reduced Charges   Some banks have commenced the implementation of the reduced bank charges as instructed by the regulator, the Central Bank of Nigeria, with effect from January 2020. While some banks have notified their customers of the reduction in the new charges,...

Complaints: CBN Imposes N2m Fine, Others On Banks   Any bank that failed to acknowledge the complaints from depositors, will pay a fine of N2m, guidelines from the Central Bank of Nigeria, stated. Besides, each week the bank refused to address customer’s complaints within the prescribed timelines,...

In Nine Months, Banks Generate N135.15bn From e-payments The adoption of electronic channels for financial transactions has earned 10 deposit money banks about N135.15bn revenue in the first nine months of the year ended September 30. Analyses of the unaudited 2019 third quarter reports of 10...