Banks Deposit With CBN Hits N822.34bn In July   Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023, the apex banks’ Financial Data posted on its website has revealed. The N822.34 billion represents 42 per cent Month-on-Month (MoM) increase...

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...

Cashless Policy: Court Stops CBN’s Deposit, Withdrawal Levies           A Federal High Court sitting in Awka, Anambra State, has ruled as discriminatory the cashless policy of the Central Bank of Nigeria (CBN) across six states and the Federal Capital Territory (FCT), where bank customers depositing or...

NDIC Boss Identifies Public Misconception As Key Challenge Of Deposit Insurance   Public misconception of the basic principles of Deposit Insurance System (DIS) remains one of the major challenges confronting the Nigeria Deposit Insurance Corporation (NDIC), the corporation’s MD/CEO, Alhaji Umaru Ibrahim, has said. Speaking yesterday at...