Naira: Customers Opt For epayments As Shortage Lingers   More customers are opting for electronic means of payment as naira scarcity worsens. Some bank customers and PoS operators who spoke to our correspondent said there was an increase in the epayment transactions. A resident in Olowoira, Lagos, Chike...

Bank Customers Lose N472m To Fraudsters In Three Months - Report A report by FITC has revealed that bank customers in Nigeria lost N472m to fraud in the first quarter of 2023. It was also disclosed that there was a total of 12,553 cases of fraud...

Ten Banks Spent N542.8bn On Customers’ Deposits In Q1, 2023   With the Monetary Policy Rate (MPR) currently at 18 per cent, a total of 10 banks spent N542.8billion on customers’ deposits in first quarter (Q1) ended March 31, 2023, an increase of 71.83 per cent...

Banks’ Commission From Customers Increase By 14% To N219.77bn   Amid severe competition from Fintech companies, six banks operating in Nigeria generated a sum of N219.77billion fees and commission for the year ended December 31, 2022 representing an increase of 14 per cent from N192.22billion reported...

10 Banks Loaned Customers N2.9trn In 12 Months   Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show. The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank,...

Fed Govt Probes 17 Firms Over Breach Of Customers’ Private Data   The National Information Technology Development Agency engaged in 17 data breach investigations and issued N15m fines in 2021, a new report has revealed. This was disclosed in the Nigeria Data Protection Regulation Performance Report 2020-2021,...