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Presidential Panel To Recover $7bn Bailout Funds From Banks

Presidential Panel To Recover $7bn Bailout Funds From Banks

The chairman of the special presidential panel for the recovery of public property, Okoi Obono-Obla, says his panel will recover $7 billion bailout funds given to four commercial banks between 2006 and 2008.

Banks Borrow N662.8bn From Pension Funds

Banks Borrow N662.8bn From Pension Funds

Documents have revealed that Nigerian banks borrowed N662.8bn from the total pension funds under the Contributory Pension Scheme as of the end of May 2018.

African Youths Decry Poor Support Towards Agri-Business

African Youths Decry Poor Support Towards Agri-Business

African young agricultural entrepreneurs have lamented poor access to soft agricultural loans which is hampering growth of their agri-businesses.

Banks Panic As Power Firms’ Debts Worsen

Banks Panic As Power Firms’ Debts Worsen

Many of the Nigerian banks that gave loans to top investors during the privatisation of the power sector in 2013 may have incurred losses.

NBS Says Banking Sector Recorded N32.90trn Transactions

NBS Says Banking Sector Recorded N32.90trn Transactions

NBS has said a total of 509,668,433 transactions valued at N32.90 trillion was recorded in the banking sector during the second quarter of the year.

Fintech Huge Threat To Traditional Banking, Says CIBN

Fintech Huge Threat To Traditional Banking, Says CIBN

The deployment of financial technology by Deposit Money Banks is a threat to traditional banking in the country, says the Chartered Institute of Bankers of Nigeria, Lagos State branch.

Six Banks Contribute N155.45bn Into AMCON Sinking Fund In 3 Years

Six Banks Contribute N155.45bn Into AMCON Sinking Fund In 3 Years

Six Commercial banks have made payments totaling N155.45 billion into the sinking fund of Asset Management Corporation of Nigeria (AMCON) within three years.

EFCC Boss Asks Banks For Information On Corrupt Customers

EFCC Boss Asks Banks For Information On Corrupt Customers

The acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has called on banks to collaborate with the agency to fight corruption.

CBN Directs Banks To Sell Forex To Customers Over The Counter

CBN Directs Banks To Sell Forex To Customers Over The Counter

The Central Bank of Nigeria on Sunday mandated all commercial banks and Bureau de Changes to sell Forex to all eligible travelers over the counter, regardless of their customer status.

Experts Call On CBN To Fix Lending Rate, Check Hidden Bank Charges

Experts Call On CBN To Fix Lending Rate, Check Hidden Bank Charges

Lead Director, Centre for Social Justice, Eze Onyepere, has called on CBN's Monetary Policy Committee (MPC) to fix interest rates on bank loans to check the high rate by financial institutions.

Banks Borrow N52trn From CBN

Banks Borrow N52trn From CBN

Commercial banks' borrowings from the Central Bank of Nigeria (CBN) have increased by 80 percent to N52 trillion in 2017.

Nigerian Banks Lost 2m Customers In 2 Years – Report

Nigerian Banks Lost 2m Customers In 2 Years – Report

Nigerian banks have lost over 2 million customers between 2016 and 2017, despite the Central Bank of Nigeria’s (CBN) effort to promote financial inclusion.

Banks Lose N2.37b To Fraud As NDIC Begins Probe

Banks Lose N2.37b To Fraud As NDIC Begins Probe

Nigerian banks have lost N2.37 billion due to rising fraud levels in the sector with the Nigeria Deposit Insurance Corporation (NDIC)set to investigate affected banks. 

CBN Gives Banks Two Weeks To Settle Overcharge Complaints

CBN Gives Banks Two Weeks To Settle Overcharge Complaints

The CBN has directed all banks to make sure customer complaints regarding overcharge, unauthorised deductions and other matters are resolved within two weeks.

Group Urges FG To Recover Funds Trapped In Banks

Group Urges FG To Recover Funds Trapped In Banks

The Free Africa From Corruption (FAFC) has urged the Federal Government to recover funds trapped in some banks that acted as collecting agents.

Unfreeze Jonathan’s Accounts, Reps Tell Banks

Unfreeze Jonathan’s Accounts, Reps Tell Banks

Nigeria's House of Representatives Committee on Public Petitions has directed six commercial banks to unfreeze accounts operated by Patience Jonathan.

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