Banks Shut In Ibadan Over Tax Defaulting It was a disturbing incident as financial transactions were paralyzed in many banks in Ibadan, the Oyo state capital, Monday morning, as a combined task force team of the state Inter-ministerial Enforcement Unit swoop on the financial institutions...

Banks Release N77.4bn For Agric Projects The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has facilitated the release of a total of N77.4bn from the Deposit Money Banks into agribusiness in Nigeria. The Managing Director, NIRSAL, Aliyu Abdulhameed, gave the figure on Wednesday in Abuja...

Manufacturers Receives N2tn Loans From Banks In A Year A total of N2.01tn was granted as loans by the Deposit Money Banks to the manufacturing sector within one year covering July 2017 to June 2018, an analysis of the banking sector credit report of the...

Banks Suspends BDCs' Accounts, Demands Tax Remittance The Association of Bureau De Change Operators of Nigeria has kicked against ongoing banks’ suspension of bureau de change accounts, demanding for tax remittances on turnover volumes. In a statement on Thursday, the President, ABCON, Alhaji Aminu Gwadabe, said...

Banks, Others Spend N246bn On Foreign Software Banks, telecomms companies, insurance companies and management services firms have spent N246bn on licensing of foreign software in six years. Data obtained from the National Office for Technology Acquisition and Promotion indicated that this amount was lost as capital...

Banks must get Adeosun’s approval before lending to states – DMO To reduce their exposure to huge indebtedness, the state governments can no longer borrow from the banks or the bond market without the express approval of the Minister of Finance acting on the advice...