Companies May Raise N1trn Corporate Debts In 2021       Commercial banks, international oil companies (IOCs), multinational companies, leaders in fast-moving consumer goods (fmcg) and financial technology (Fintech) firms may issue more than N1trillion corporate debts before year-end. Head, Research and Consulting, Agusto & Co, Prof. Jimi Ogbobine,...

Despite COVID-19 Harsh Conditions, Banks’ Profits Rise To N677bn       Despite the economic meltdown caused by the COVID-19 pandemic, the nine months 2020 financial results of 12 commercial banks have shown that they recorded a combined profit of N677.149 billion for the period that ended on...

Banks, Telcos In Talks To Settle N17bn USSD Debt       Commercial banks and mobile network operators have commenced discussion on how the N17bn accumulated debt for Unstructured Supplementary Service Data access will be paid. Findings showed the two parties would reach an agreement on modalities for payment...

Senate Probes Commercial Banks Over Illicit, Excess Charges       The Senate on Wednesday mandated its Committee on Banking, Insurance and Other Financial Institutions to investigate the alleged illicit and excess bank charges by commercial banks operating in the country. The upper chamber urged the Central Bank of...

Five Banks Raked In N175.41bn On Fees, Commission       Following the harsh macroeconomic environment that characterised the second quarter of 2020 due to the COVID-19 pandemic, five Nigerian commercial banks saw the amount generated from customers’ fees and commission in the first half of the year...

Commercial Banks’ Liabilities, Assets Now N41.42trn   Total assets and liabilities of commercial banks amounted to N41.42tn at the end of October 2019, showing 4.6 per cent increase when compared with the level at the end of the preceding month. The Central Bank of Nigeria disclosed in...