E-banking Services Gulp N154bn from Bank Customers in Q1, 2023 Customers of nine leading commercial banks paid N154 billion fee for using electronic banking services in the first half of the year (H1’23). Details of the banks’ financial statements for H1’23 showed that the fee represents...

CBN Orders Banks To Save Gains From FX Revaluation   The Central Bank of Nigeria, CBN, has ordered banks to save gains from foreign exchange (FX) revaluation as a buffer against emerging economic shocks. The regulator in this regard stopped banks from using FX revaluation gains to...

Banks’ Bad Loans Hit N478bn   At least four banks recorded N478bn non-performing loans during the first half of this year, according to their financial results Specifically, Guaranty Trust Bank Holding Plc (GTCO), FBN Holdings Plc and two other banks reported N478.93bn non-performing loans by value in...

Banks, ASUU, Others to Join NLC’s Strike There are indications that some branches of the Academic Staff Union of Universities (ASUU) may join the Nigeria Labour Congress's two-day strike. President of ASUU, Osedeke Emmanuel, expressed the union's unwavering support for the NLC's directive regarding the impending...

110 Top Executives, Others Sacked over N82bn Fraud - Report  The Financial Institutions Training Centre report has revealed that at least 110 top bank executives and junior staff members have been sacked for fraud-related cases in the past two years. These were contained in the ‘Reports...

Insurance Firms, Banks Others Contribute N1.72trn To Economy   Banks, insurance companies and other financial institutions contributed N1.72 trillion to the nation’s real Gross Domestic Product (GDP) in the first half of the year, H1’23. This represents 27 percent year-on-year YoY growth from the N1.35 trillion contributed...