CBN Issues Guidelines To Manage Tech Platforms In Banks   The Central Bank of Nigeria (CBN) has issued an Exposure Draft of the Risk-based Cyber Cyber-security Framework and Guidelines for Deposit Money Banks, DMBs and Payment Service Banks, PSBs, in a bid to manage technology platforms...

CBN Bars Banks, Financial Institutions Seeking Upgrade From Expansion   The Central Bank of Nigeria (CBN) has barred banks and other financial institutions seeking a conversion licence from expanding or reducing their current banking network in its new draft guidelines. The CBN discloses this in a circular...

467 Financial Institutions Liquidated Till Date - NDIC   The Nigeria Deposit Insurance Corporation (NDIC) yesterday disclosed that it has successfully liquidated 467 financial institutions till date, that is, of both depositors and creditors. The insured financial institutions, according to the Corporation, comprise of 49 Deposit...

NDIC Reiterates Commitment To Financial Stability   Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan, said the corporation would continue to monitor the banking sector to address challenges it might be facing. Hassan said this at a retreat for members of the Senate Committee on...

COVID-19: Financial Institution'll Fund N1.8trn Stimulus Package – FG       The Federal Government on Thursday said about N1.8tn of its N2.3tn COVID-19 economic stimulus package would be funded by financial institutions. It also disclosed that about N288bn from the N500bn of the package funded through the 2021...

CBN Sets New Limits For Banks On Non-performing Loans   The Central Bank of Nigeria has set new limits for banks and other financial institutions on non-performing loans to reflect in their books The bank disclosed this in its exposure draft on prudential guidelines to microfinance banks,...