Banks To Revive National Theatre With N25bn   The Central Bank of Nigeria and the Bankers Committee plan to revive the National Theatre at Iganmu, Lagos, with about N25bn. The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, disclosed this during the 11th Bankers Committee retreat in...

Banks Recorded N42.76trn e-transactions In 2019 Q3   A total volume of 800.2 million transactions valued at N42.76tn were recorded in the third quarter of 2019, as data on electronic payment channels in the Nigeria banking sector revealed. The National Bureau of Statistics disclosed in its selected...

Banks’ Non-performing Loans Decline By N1.14trn In 1 Year   Between the third quarter of 2018 and the third quarter of this year, the Non-Performing Loan portfolio of the banking sector dropped from N2.24tn to N1.1tn. This shows a decline of N1.14tn or 50.89 per cent reduction...

Telecom Companies Threaten To Disconnect Banks From USSD   Telecommunications companies have threatened to stop offering Unstructured Supplementary Service Data services to financial institutions without commensurate financial payment for the services. The companies, which are also members of Association of Licensed Telecommunications Operators of Nigeria, insisted that...

Depositors Petition Banks Over Fraud, Charges   About 3,051 depositors petitioned their banks and other financial institutions over various complaints such as excess/unauthorised charges, fraudulent activities, guarantees, dispense errors and funds transfers in 2018. While 1,439 complaints were lodged to the Central Bank of Nigeria in the...

Ten Banks Generate N578bn Commission In 9 Months   Ecobank Transnational Incorporated, Zenith Bank Plc and United Bank for Africa Plc led seven other banks in N577.9bn commission generated from customers’ transactions in the first nine months of 2019. This is an increase of 20.4 per cent...