Five Banks Rake In N51.15bn From e-banking Charges   In spite of fierce rivalry within the financial sector, a total of N51.15 billion in electronic banking income was generated by five banks during the first half of the year. This represents a notable growth of 30.17 per...

Banks Deposit With CBN Hits N822.34bn In July   Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, the apex banks’ Financial Data posted on its website has revealed. The N822.34 billion represents 42 per cent Month-on-Month (MoM) increase...

Banks’ Credit To Economy Rises By 11% To N84trn   Banks’ net domestic credit to the economy has hit N84 trillion representing an 11 percent Month-on-Month, MoM, rise fromN75.49 trillion in May. The breakdown, according to the Money and Credit Statistics of the Central Bank of Nigeria,...

CBN Frowns as Borrowing Cost Rises, Banks Growth Decline The cost of borrowing has continued to rise, while growth in the banking industry is declining, according to the Central Bank of Nigeria. In the personal statement made by the Deputy Governor, Financial System Stability Directorate, CBN,...

Banks’ Total Assets Rise By N16.65trn   The Central Bank of Nigeria (CBN) has revealed that banks’ total assets from April 2022 to April 2023 rose by N16.65 representing a 25.88 per cent adding that Industry credit also increased by N4.54 trillion during the period under...

N120bn USSD Banks Debt won’t be Cancelled - Telcos Chair  Telecommunication firms have said they will not be forgiving the N120bn Unstructured Supplementary Service Data debt banks owe them. They stated that banks must pay the debt, insisting banks would be disconnected once every effort at...