Banks’ Credit To Economy Decreased By N136bn – NBS   The total credit from banks to the economy recorded a decline of N135.8bn from N15.74tn at the end of the fourth quarter of last year to N15.6tn in the first three months of 2018. This is contained...

Oil Sector Receives N3.42 Trillion Credit From Banks A gas flare burns at the Batan flow station operated by Chevron under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC) for the onshore and offshore assets in the Niger Delta region on March 26,...

Banks Fail To Remit N74.1bn Govt Revenues –RMAFC     Ongoing probe of banks that are collecting revenues for the government has shown that the lenders failed to remit N74.1bn into the Federation Account between July 2012 and December 2015. The Revenue Mobilisation Allocation and Fiscal Commission, which...

50 Million Unbanked Nigerians Targeted By CBN, Banks   The Central Bank of Nigeria, Deposit Money Banks, licensed mobile money operators and super agents have agreed to roll out 500,000 Shared Agent Network to accelerate financial inclusion in Nigeria. The agreement would enable them to fund the...

Banks Borrow N52tr From CBN As Liquidity Pressure Intensifies   BANKS’ borrowing from the Central Bank of Nigeria (CBN) shot up by 80 percent to N52 trillion in 2017, from N29 trillion in 2016, due to pressure to survive the impact of high interest rate regime...

NDIC To Probe Banks For Alleged Fraud Cases The Nigeria Deposit Insurance Corporation on Sunday said it would investigate some banks over the high incidence of fraud and forgeries caused by the non-rendition of returns to the corporation. The corporation will also be beaming its...