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...

Banks, 18 Others, Fined N125m For Late Filings   At least eight banks and 18 other listed companies have been fined N125m for failing to file their 2022 audited financial statements and quarterly reports for the first half of 2023 as required by Nigerian Exchange. The affected...

Banks Borrowing From CBN Now N12trn   There are indications that commercial banks and merchant banks are increasingly depending on the Central Bank of Nigeria for liquidity as their borrowing from the apex bank has intensified in the last eight months of 2023. Aside from August 2023...

NDIC to Probe Directors of Failed Banks for fraud, Malpractices The Nigeria Deposit Insurance Corporation has disclosed plans to probe directors of some failed banks in the country. The Managing Director, NDIC, Mr Bello Hassan, said this during a capacity building workshop for law enforcement agencies...

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...