Banks Profit Rises to N2.1tn in Q3 – Report Six top banks in Nigeria grew their profits by 214 per cent to N2.06tn in the period ended September 2023 compared to N656.15bn recorded in the same period in 2022, despite the economic headwinds of its...

CBN’s Lending to Banks Rises by 466 % to N268bn   Banks’ borrowings from the Standing Lending Facility (SLF) of the Central Bank of Nigeria (CBN) increased year-on-year (YoY) by 466 percent to N268.3 billion as at end of October 2023 from N47.35 billion as at...

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...