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...
Nigerian Banks Spent N200bn Preventing Cyber Attacks In 2019
Nigerian banks were estimated to have spent about N200billion preventing various forms of cyber attacks on their operations in the country in 2019.
The Nigeria Computer Society (NCS), which revealed this, yesterday, said more efforts must be...
Nigerian Banks Borrow N764.32bn From Pension Fund
Nigerian banks borrowed N764.32bn from the total pension funds under the Contributory Pension Scheme as of the end of September this year.
Figures obtained by our correspondent from the National Pension Commission revealed that the amount translated to 19.16...
