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...

CBN Directs Mortgage Banks to Submit Returns, Threatens Sanction  The Central Bank of Nigeria has warned all primary mortgage banks in the country regarding the timely submission of regulatory returns. This was as it also issued a stern warning to Development Finance Institutions and Microfinance Banks. In...

'Banks Involved In 70% Of Financial Crimes'   The Economic and Financial Crimes Commission (EFCC)on Monday, indicted banks as being linked to about 70 per cent of the financial crimes in Nigeria. EFCC’s Chairman, Olu Olukayode, disclosed this while speaking in Abuja at the 2023 Annual Retreat...

CBN Reveals Currency Outside Banks Hit Historic High of N3.4trn   A report by the Central Bank of Nigeria (CBN) has revealed that currency outside banks at at December 2023 reached a staggering N3.43 trillion, representing a whopping 94 per cent of the N3.65 trillion total...

Currency Outside Banks Surges To N3trn - CBN   Recent data released by the Central Bank of Nigeria (CBN) has revealed a notable spike in currency outside the banks during the month of November 2023, reaching unprecedented levels based on historical records. According to the Money and...

Banks Borrow N17.85tn from CBN in 2023 Commercial and merchant banks borrowed a whooping N17.85 trillion from the Central Bank of Nigeria (CBN) to meet their daily business obligations amid macro economic challenges in 2023. This presents an increase of 60 per cent over the N11.15...