Tag Archives: Banks

The Managing Director of Maxifund Securities Limited, Mazi Okechukwu Unegbu, has advised Nigerian banks to grant their debtors who had suffered huge losses in the aftermath of COVID-19, a generous leeway that would enable them to bounce back and be able to settle their credit obligations.

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The Nigerian Civil Aviation Authority (NCAA) will commence demolition of telecommunication masts of Globacom Nigeria Limited in different locations within Nigeria immediately.

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The Central Bank of Nigeria has stipulated N5 billion minimum capital requirement for the Payment Service Banks in the country. In a circular to all stakeholders on the guidelines for licensing and regulation of the PSBs, which was released on Thursday, it also gave N500,000 as non-refundable application fee, N2m non-refundable licensing fee, and N1m change of name fee. In …

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Stanbic IBTC Bank Plc, Access Bank Plc, and the United Bank for Africa Plc led the top 10 banks that facilitated investment in fixed securities and currency valued at N69.16 trillion on the FMDQ OTC Securities Exchange between January and May 2018, according to data made available to THISDAY. Specifically, the 10 banks accounted for 74.7 per cent or N51.67 …

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With less than six months to the implementation of the International Financial Reporting Standards 9 (IFRS-9) deadline, many banks are yet to meet up with the deadline given by the Central Bank of Nigeria (CBN) to move to the new financial reporting regime with effect from 1, January, 2018. The Director, Banking Supervision, CBN, Alhaji Ahmad Abdullahi disclosed this at …

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The Central Bank of Nigeria (CBN) has said the Nigeria InterBank Settlement System (NIBSS) recorded over 1,200 per cent increase in reported fraud cases in 2016, estimated at N2.19 billion when compared to 2014 cases. According to ‘DipoFatokun, CBN’s Director, Banking and Payments System Department and Chairman, Nigeria Electronic Fraud Forum (NeFF), in a latest report, the industry processed transactions …

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The consortium of 13 banks involved in Etisalat Nigeria loan on Thursday refuted reports that they have taken over the operations of the company. A management source close to the banks who pleaded anonymity said in Lagos that there was no truth in the report making the round. The source said that the banks’ major interest was the loan repayment …

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Citing alleged $62.9billion capital flight between August 2009 and December 2014, the Nigerian Senate has commenced investigation into the activities of some banks and some International Oil Companies (IOCs). Already, the Senate has directed affected banks to  submit all copies of certified Nigeria Export Proceed issued/or processed by them in respect of all crude oil and gas exported by Nigeria …

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The ratio of non-performing loans in the banking industry  have doubled the threshold at 11.7 percent, the experts at the Guarantee Trust Bank (GTB) has said in their 2017 Economy Outlook. The outlook titled: Macroeconomic and Banking Sector Themes for 2017 said the banking industry has been plagued by declining asset quality in the wake of the decline in crude …

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