About 3,891 Debtors Owe Banks Above N1bn Each   About 3,891 firms and other debtors have taken individual loans above N1bn, totalling N13.19tn of loans in the banking sector. Latest figure by the National Bureau of Statistics revealed that the total loans in the banking sector stood...

Banks Disregard CBN's Directive On Torn N50 Notes, Others   Indications emerged on Thursday that Nigerian commercial banks were not complying with a Central Bank of Nigeria directive on the replacement’s of mutilated naira notes with new ones. The CBN had opened a three-month window from June...

Banks Suffer N100bn Bad Loans In Power Sector   A total of N100.42bn loans advanced by the nation’s banks to power firms have been recorded as non-performing, the latest data from the National Bureau of Statistics have shown. The power and energy sector, out of 22 sectors/business...

Banks To Slash Loans Over Rising Credit Risk   Banks may not significantly increase their loans to borrowers, despite the Central Bank of Nigeria’s directive to the Deposit Money Banks on its Loan to Deposit ratio mandate. A research credit rating, and credit risk management company, Augusto&...

CBN Launches Guidelines On Disclosure, Transparency For Banks, Others   The Central Bank of Nigeria (CBN) has issued fresh guidelines to give effect to the Disclosure and Transparency Principle contained in the Consumer Protection Framework (CPF) for institutions under its regulation. The guidelines, according to an 18-page...

Airtel Signs Multi-billion Loan Agreement With Banks   Airtel Nigeria has signed a five-year loan agreement with a number of Nigerian banks. The telecommunication company, which is set to list its shares on the Nigerian Stock Exchange by July 4 and its African unit on the London...