On Val's Day, Banks’ Instant Pay Transactions Hit 2.5m Bank customers carried out about 2.5 million transactions on Nigeria Interbank Settlement System Instant Pay platform recorded on Valentine’s Day, live updates provided by the NIBSS have shown. As shopping for gift items and visit to entertainment...

Banks Investments Decline Due To Tumbled Stocks   Investment in the banks listed on the Nigerian Stock Exchange declined on Monday as the shares tumbled by 0.9 per cent due to profit-taking and sell-offs witnessed in Guaranty Trust Bank Plc and United Bank for Africa Plc. The...

CBN: Banks Lose N12.06bn To Fraud In 6months The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018. This is just as the banking sector regulator...

34 Primary Mortgage Banks Confirmed By CBN   The Central Bank of Nigeria has listed only 34 firms as licensed primary mortgage banks in Nigeria. According to the list released by the regulator on Monday, 50 per cent of the banks are operating in Lagos. From its records...

Emefiele To Meet Banks, MTN Over $8.1bn Repatriated Funds Dispute   The Governor of the Central Bank of Nigeria, Godwin Emefiele, will meet with the representatives of telecommunications company, MTN, and four banks on Tuesday to discuss the lingering dispute over the repatriation of $8.1bn, two...

Banks, OFIs Record Higher Default Rates On Credit Cards, Overdraft In 2018 Q3 A report by the Central Bank of Nigeria, CBN, has indicated that the rate of default in household loan repayments is on the increase in the third quarter of 2019, Q3’19. The...