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...

Forex Shortage To Hit $5bn In Nigerian Banks – Moody’s   Nigerian banks’ foreign currency funding gap will rise to $5bn over the current low oil prices, volatile foreign inflows and lower remittances amid coronavirus pandemic, Moody’s Investors Service said on Wednesday. Moody’s, in its July 2020...

Seven Nigerian Banks Record N209.16bn Profits     Seven Nigerian banks recorded a combined profit after tax of N209.16bn in the first quarter of this year, their unaudited financial results showed. The banks are Zenith Bank Plc, Guaranty Trust Bank Plc, Access Bank Plc, United Bank for Africa...