IMF To CBN: eNaira May Reduce Deposits In Commercial Banks   The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria and consequently reduce demand for deposits in commercial banks. The comment came barely four weeks after...

Merchant, Commercial Banks’ Borrowing From CBN Drops By 33.2% In October   Following the improvement in business activity in the country, commercial and merchant banks’ borrowing from the Central Bank of Nigeria (CBN) dropped by 33.2 per cent to N505.3billion in October as against N756.37billion in...

eNaira: We Don't Plan To Steal Your Customers, CBN Tells Banks           The Central Bank of Nigeria (CBN) has told financial institutions in the country that eNaira is not a subtle scheme to take away bank customers. It said the plan is to grant access to more...

Regulatory Costs, Inflation Push Banks’ Operating Expenses To N874bn           Nine commercial banks in Nigeria recorded an aggregate operating expense of N874.8bn in the first half of the year. This figure indicates an increase of N51.9bn from the total OPEX of N822.9bn recorded in the corresponding period...

In Three Months, 12 Nigerian Banks Lend Customers N690bn       The combined loan portfolio of 12 commercial banks in Nigeria rose by N690bn in the first three months of this year, data collated from their unaudited financial statements show. The loans and advances to their customers grew...

12 Banks Earned N461.51bn Interest In Three Months       Twelve commercial banks in Nigeria earned a total of N461.51bn in net interest income in the first three months of this year, up from N451.14bn in the same period of 2020. An analysis of data from their unaudited...