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...

Oil, Power Firms Owe Nigerian Banks N5.83trn – NBS         The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this year, according to the National Bureau of Statistics. The N5.85tn represents 29.44 per cent of the N19.87tn...

Afreximbank Names Seven Nigerian Banks As Trade Finance Intermediaries       Seven Nigerian banks have been named Trade Finance Intermediaries of the African Export-Import Bank to enable a smoother delivery of its initiatives and credit solutions in Nigeria. A statement issued by the bank on Tuesday said the...

Cheque Transactions Shrink By 39% As Digital Payments Rise       The volume of cheques cleared by Nigerian banks keep shrinking as bank customers continue to embrace electronic payments for their financial transactions. From January to September this year, the volume of cheques dropped by 39 per cent...

Oil Firms’ Debts Near N5trn Amid Price Collapse     The debts owed by oil and gas companies to Nigerian banks rose by N90bn in the second quarter of this year to nearly N5tn as many operators struggle to stay afloat in the face of depressed prices...