FG Records Tax Revenue Windfall, Banks’ Tax Rises by 109.6%   There are indications that the Federal Government is having great times in its finances as its revenue from Value Added Tax (VAT) and Company Income Tax (CIT) rose by 85 per cent year-on-year, YoY, to...

Stakeholders Demand Better Security as Banks Lose N42.6bn to Fraud   Cybersecurity experts have stated that Nigerian banks must bridge the widening technology adoption gaps and closely track insider threats after losing N42.6bn to fraud between April and June 2024. The Financial Institutions Training Centre revealed the...

Hunger Protest Grounds Abuja Banks, Markets A nationwide protest against hunger and economic hardship triggered by recent government reforms brought parts of the nation’s capital to a standstill on Thursday, August 1. The protest, which had been earlier announced, led to the closure of banks, filling...

Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has revealed how much banks in Nigeria have lost to internet fraud, otherwise known as Yahoo-Yahoo Boys, in 2022.

The NDIC And Recapitalisation Of Banks, by Salisu Na'inna Dambatta   The ongoing CBN-inspired recapitalisation for banks has serious implications for the banking sector, the equity capital market and the Nigeria Deposit Insurance Corporation of Nigeria (NDIC). While the banking sector may become stronger with deeper capital...

EFCC: NDIC, CBN Should Monitor Banks To Prevent Economic Fallout According to Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), the Nigeria Deposit Insurance Corporation (NDIC) should keep a close eye on banks across the country to avoid failure and its...