Tag Archives: Nigerian Banks

Sixty-five years after independence, Nigeria’s banking sector boasts towering profits and continental reach. Yet behind the glossy numbers lies a sobering truth: banks remain disconnected from the real economy, leaving farmers, small businesses, and entrepreneurs stranded.

Read More »

It is a sobering reality that one South African bank, Standard Bank Group, has a market capitalisation of roughly ZAR 384.34 billion (about $21-22 billion), while the entire Nigerian banking sector combined cannot match it.

Read More »

Nigeria’s economy has been buffeted by storms in recent years with currency volatility, galloping inflation, surging interest rates, and dwindling consumer purchasing power. Yet, amid these macroeconomic headwinds, corporate organisations, especially banks, continue to post eye-popping profits.

Read More »

An economist, Mr Johnson Chukwu, has stressed the need for the Central Bank of Nigeria (CBN) to deploy available Infrastructure technology and Bank Verification Numbers (BVN) to tackle delay in the verification of banks' offers and ensure speedy conclusion of the process.

Read More »

The Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70 per cent of the financial crimes in Nigeria.

Read More »

***Rating Agency Changes 2020 Outlook For African Banks to Negative  Bayo Akinloye The 2020 outlook for African banks has changed to negative from stable, reflecting their weakening operating environment, Moody’s Investors Service said in a report published today. According to the topmost rating agency, the outlook for African banks in 2020 is negative due to weakening operating conditions and rising …

Read More »

Despite the surge in activities of financial technology (fintech) companies that have continued to encroach on commercial banks’ businesses, 11 banks in the country raked in a total of N24.957 trillion as customer deposits as at the end of 2018.

Read More »

Edo State Deputy Governor, Honourable Philip Shuaibu, has called for systematic overhaul of the banking sector in Nigeria that will redirect their focus on the development of small businesses (SMEs) in the country, inline with present economic realities. Shuaibu made the call in Lagos recently while receiving an outstanding Humanitarian Service Award presented to him by the Rotary Club of …

Read More »

In line with the Central Bank of Nigeria (CBN) policy towards making sure that all Nigerian have access to financial services across the country, Nigerian banks, licensed Mobile Money Operators and Super Agents on Tuesday March 27, 2018 has agreed to roll out a 500,000 shared Agent Network, which will accelerate financial inclusion in the country. Addressing the financial press …

Read More »