Nigerian Banks Are Buoyant, CBN Assures   The Central Bank of Nigeria (CBN), has assured the banking public that Nigerian banks are buoyant. The CBN said this in a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi Ali. Ali’s statement was informed by reports in...

EXCLUSIVE: How 36 Governors Borrowed N2.2trn From Nigerian Banks   Amid worsening revenue challenges, state governments’ indebtedness to commercial banks has risen to N2.2trn. The latest data from the quarterly statistical bulletin of the Central Bank of Nigeria, obtained by our correspondents, showed that states and LGAs...

Top Ten Banks Pay N260.3bn As Income Tax   Ten top commercial banks listed on the Nigerian Exchange Limited have paid N260.3 billion as Company income tax (CIT) in 2022, representing a 28 percent increase over the N203.06 billion they paid in 2021. This was disclosed by...

UPDATE: Nigerian Banks are Resilient, will Survive SBV's Collapse - Emefiele   The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has been speaking to the healthiness of Nigerian banks against the backdrop of the recent collapse of the Silicon Valley Bank (SVB). Speaking to journalists after...

Moody Investors Downgrade Nine Nigerian Banks   An international rating agency, Moody’s Investors Service, has downgraded nine Nigerian banks following its downward review of Nigeria’s rating last week. The downgraded banks include: Access Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited, United Bank for Africa...

Banks’ Operating Expenses Rise By 19.2% On High Inflation, Regulatory Charges   Following a high inflation rate and regulatory charges, a total of 14 Nigerian banks reported N2.03 trillion total operating expenses in nine months of 2022, representing an increase of 19.2 per cent from N1.7...