Banks’ Expenditure On Communications, IT Rises To N82bn   Ten commercial banks spent N81.92bn on communications as well as Information Technology services in the first half of 2022. According to the financial reports of the banks, this was a 58.69 per cent increase from the N51.62bn spent...

CBN’s Lending To Commercial Banks Drops by N350bn   Data obtained from the Central Bank of Nigeria (CBN) suggest that money deposit banks (DMBs) could be struggling to park excess cash holdings despite low access to funds by the real sector. According to the financial data, DMBs’...

Commercial Banks Borrow N4.4trn From CBN In Three Months   Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Banks regularly access the...

Banks Review Forex Sale Policy As Dollar Scarcity Persists   Commercial banks have reviewed their policy on forex sales to Nigerian students abroad and travellers. Quarterly dollar disbursements to customers were slashed, with a limit to students schooling abroad pegged at $1,500 as against $4,000. Economic Confidential gathered...

CBN Knocks Commercial Banks For Shunning eNaira     The Central Bank of Nigeria on Wednesday knocked commercial banks across the country for not promoting the e-Naira launched with fanfare by President Muhammadu Buhari in October, 2021. The apex bank also explained the operational benefits of its newly...

Short-term Loans, Others Push Banks’ Assets To N58.51trn   Massive investments in short-term financing and other prudent measures have made the assets of 10 key commercial banks to grow by N8.09tn (a 16.06 per cent increase) to N58.51tn in one year, reports have revealed. Specifically, the combined...