11 Banks’ Non-performing Loans Hit N1.67trn   Following write-offs, restructuring of facilities, Global Standing Instruction (GSI) and credit risk management as a result of economic challenges, a total of 11 banks recorded N1.67 trillion non-performing loans (NPL) during the first half (H1) of 2023, an increase...

Currency Outside Banks Hit N2.29trn in H2 - Report Currency Outside Banks, CoB, rose Month-on-Month (MoM) by N90 billion or 4.09 percent to N2.29 trillion in August from N2.2 trillion in July 2023. Currency Outside Banks, CoB has been on the increase since March reflecting the...

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...