Nigerian Banks To Stop Accepting Old £20, £50 Notes Dec 31   Deposit Money Banks in Nigeria have issued a deadline of December 31, 2021 for the acceptance of old £20 and £50 notes to enable proper conclusion of cash evacuation. One of the banks, Fidelity Bank...

Nigerian Banks Closed 234 Branches, 649 ATMs — IMF   The International Monetary Fund, IMF, yesterday, said that Nigerian banks closed 234 branches and 649 Automated Teller Machines, ATMs, in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 in the...

Ten Banks Generate N266bn From Account Maintenance, E-banking Fees       Ten Nigerian banks made N265.96bn from account maintenance and electronic banking fees in 2020. This is as shown by analysing data from the annual reports of the 10 banks. The banks made N79.55bn from account maintenance fees...

Analysts Predict 8% Loan Growth For Banks In 2021       Analysts at CSL Stockbrokers Limited have predicted an eight per cent loan growth for the Nigerian banking sector in 2021. The Lagos-based firm stated this in a report on its 2021 outlook titled: “Surviving Amidst Uncertainties.” The firm...

Seven Banks Provide $260m Funding To AGPC To Generate 1.2GW Electricity       No fewer than seven banks have provided a cumulative $260 million funding to a gas processing firm, ANOH Gas Processing Company Limited (AGPC). The funding is to fund the completion of the AGPC Gas...

Banks Refund N2.7bn To Customers, Complaints Rise By 34%       The Nigerian banking industry has recorded a mixed performance in customer services in the first half of 2020 with number of complaints over services failures and infractions rising while amount involved decreased significantly. Meanwhile, the volume of...