Banks Raise Withdrawal Limit to N50,000 Daily Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day. A survey conducted by our correspondent on Tuesday revealed that banks, including Guaranty Trust Bank and Zenith Bank, have increased...

Customer Deposits in Eight Banks Now N85trn   Customer deposits in eight Deposit Money Banks reached N85.58tn in the third quarter of 2024, a 12.2 per cent increase from the N76.26tn recorded in the same period in 2023. This was disclosed in the Unaudited Interim Financial Statements...

Currency Outside Banks Rose To N3.08trn In Nov 2023 – CBN   Latest figures from the Central Bank of Nigeria (CBN), on Tuesday, revealed that cash outside banks experienced a 27.80 per cent increase, reaching N3.08 trillion in November 2023 from N2.41 trillion in recorded in...

$2bn Debt: Airlines Get $62m As CBN Repays Banks The Central Bank of Nigeria (CBN) has paid $2bn to clear a part of its backlog of matured foreign exchange obligations to the Deposit Money Banks. Reports have put CBN’s forward contract obligations to banks at $7bn....

Transaction Errors: 4.6million Customers Groan, Demand N137bn From Banks   Six Deposit Banks in Nigeria received 4,595,628 million complaints from their customers within a period of one year with the total amount of refund being claimed hitting N137.62bn. This was disclosed in the banks’ audited financial reports...

Dollar Crisis: Banks Slash Foreign School Fees, Travel Allowance    Deposit Money Banks have slashed the amount of Personal Travel Allowance and schools fees their customers can apply for amid a worsening foreign exchange crisis. Shortage of FX in the country has forced lenders to take drastic...