4 Banks Makes N24.3bn From Account Maintenance Charges   Between January and June 2019, four leading banks generated N24.3bn from account maintenance charged on their customers’ accounts, investigation has shown. This is an increase of about 19.18 per cent from N20.39bn generated in the corresponding period in...

E-payments: CBN Unveils Sanctions Against Banks, Others   The Central Bank of Nigeria has announced a series of new sanctions that will be meted out to deposit money banks, mobile money operators, payment solution service providers and other financial institutions for electronic payment infractions. The CBN, on...

Top 5 Banks Records N417bn Profit In Six Months   Nigeria’s five topmost banks recorded a total profit of N416.55 billion in the first half of this year as a result of improved technology and an enhanced efficiency The average profitability of the top five banks rose...

9 Banks Increase Loans To Customers By N952bn   NINE of the nation’s deposit money banks boosted their loan books in the first half of 2019 as credit to customers rose by at least N952bn to N8.59tn. An analysis of the audited financial statements of the 13...

Loan Defaulters To Lose Deposits In Other Banks   The Central Bank of Nigeria and other lending institutions have agreed to seize the bank savings of customers that borrow money and refuse to pay back. They agreed that the deposits in the customers’ other banks’ accounts should...

CBN Sets New Limits For Banks On Non-performing Loans   The Central Bank of Nigeria has set new limits for banks and other financial institutions on non-performing loans to reflect in their books The bank disclosed this in its exposure draft on prudential guidelines to microfinance banks,...