banks

Banking sector performance in Nigeria, ended the year on the negative as five banks saw their value drop by 5.5 percent from N2.57trillion in 2021 to N2.43trillion at the close of trading in 2022. According to data available on the…

Telecommunication operators have reached out to the Nigerian Communications Commission for approval to phase out the Unstructured Supplementary Service Data offered to banks due to over N80bn debt. The Chairman, Association of Licensed…

The Nigerian Deposit Insurance Corporation says it has achieved 100 percent liquidation of 20 out of the 49 Deposit Money Banks that are closed down. The managing Director of the Corporation, Mr. Bello Hassan, who disclosed this…

MTN, Airtel, as well as money deposit banks in Nigeria have been appointed by the Federal Inland Revenue Service (FIRS) to withhold Value Added Tax (VAT) charged on all taxable supplies made to them, and remit to the Service. This is…

Deposit money banks have witnessed an increase in foreign exchange demand due to the central bank’s ban of forex sale to Bureaux De Change (BDCs). This was disclosed by CBN deputy governor, Adamu Edward Lametek in his statement at the…

Thousands of Zimbabweans lined up outside banks and currency exchange offices across the country on Thursday, some for days, in a desperate bid to get cash before Christmas. Most are unlikely to succeed as the inflation-ravaged southern…

The Central Bank of Nigeria (CBN) has successfully pushed different banks in Nigeria to pay out almost N89 billion to resolve a variety of complaints lodged by 23,500 customers in an effort to promote financial stability. Mr…

The Nigerian Deposit Insurance Corporation (NDIC) has announced plans to commence payment of liquidation dividends to uninsured depositors, creditors and shareholders of additional 14 banks in-liquidation.…

The Ilorin Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Monday met with Compliance Officers of various Banks in Ilorin, and charged  them to be diligent in the discharge of their duties. The commission also…