NDIC: Farewell To Iconic MD By Salisu Na'inna Dambatta       The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, an alumni of the Nigeria Institute for Policy and Strategic Studies, has retired from the Corporation on December 7th, 2020, after serving for 31...

Six Lending Banks Boost Economy With N1.3trn Credit In 2020         Efforts to grow the nation’s economy has received a boost from the banking sector as six leading banks injected additional N1.337 trillion through loans and advances to their customers across all sectors of the economy...

Banking Agents Increased By 517% In One Year – CBN         The number of banking agents (third party retail outlets contracted by financial institutions to process clients’ transactions) rose from 38, 416 agents in December 2018 to 236,940 agents as of December 2019. This growth in the...

CBN Targets $2bn Monthly Diaspora Remittances , Says Emefiele         The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the target of the CBN is for the country to attract about $2bn monthly as remittances from citizens in diaspora. Emefiele’s position is coming...

CBN Introduces Bills To Mop Up Surplus Funds         The Central Bank of Nigeria (CBN) has introduced special bills as part of an effort to absolve excess liquidity and deepen the financial market, saying the move will avail it with an additional liquidity management tool. The circular...

In Nine Months, 12 Banks Earn N133.92bn From E-payments         Increased investment in technology and the introduction of new online payment channels have earned Nigerian banks N133.92bn. The adoption of electronic channels for financial transactions earned 12 Deposit Money Banks about N133.92bn revenue in the first nine...