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Business Banks Intensify Drive to Meet 60% Loan-to-Deposit Target – Thisdaylive
With two weeks to the September 30 deadline given by the Central Bank of Nigeria (CBN) for commercial banks to maintain a minimum Loan-to-Deposit Ratio (LDR) of 60 per cent, the financial institutions have launched an aggressive deposit drive to meet the target, findings by THISDAY have …...- Nigeria Business News
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Business ‘Banks lost N15billion to fraud, cyber-crime in 2018’ – Nairametrics
The Nigerian banking industry lost N15.15 billion to cyber-crime and forgeries in 2018. This amount was 539% higher than the N2.37 billion recorded in 2017. This information was contained in the 2018 report of the Nigeria Deposit Insurance Commission (NDIC), posted on its website on Friday...- Nigeria Business News
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Business New CBN’s SDF Policy May Reduce Liquidity Mgt Cost, Analysts Say – Thisdaylive
The new Central Bank of Nigeria’s (CBN) policy on Standing Deposit Facility (SDF) which became effective yesterday, may lead to a reduction in cost of managing system liquidity for the banking sector regulator, analysts have said. The CBN announced on Wednesday that it would no longer...- Nigeria Business News
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Business Banks Plan Blacklist of Chronic Debtors – Thisdaylive
Tough times await chronic bank debtors as chief executive officers of financial institutions have resolved to create and maintain what they term a ‘Black Book’ for the compilation of details of loan defaulters that will be shared among … Read more via Thisdaylive – http://bit.ly/2Z0DhqD Get...- Nigeria Business News
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Business 10 banks’ personnel costs hit N95.86bn in 3 months – Newtelegraph
In spite of embarking on aggressive cost-cutting measures in recent years as part of efforts to remain profitable, Deposit Money Banks (DMBs) in Nigeria still continue to grapple with rising personnel costs, findings by New Telegraph show. For instance, this newspaper’s analysis of the first …...- Nigeria Business News
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Business Banks slow down branch expansion – Newtelegraph
The increasing popularity of digital banking and the rising use of technology in back-end processes, coupled with lenders’ efforts to cut costs in order to cope with the tough times, is forcing deposit money banks (DMBs) in the country to scale back branch expansion plans, findings … Read...- Nigeria Business News
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Business Nigerians decry digital services of banks – The Guardian Nigeria Newspaper
A Five-month survey on banks in Nigeria has revealed customers’ dissatisfaction with some of the digital services rendered by them. Conducted by Agusto&Co and unveiled to journalists in Lagos yesterday, the study indicated that platforms like mobile apps, Unstructured Supplementary Service Data...- curator
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Business Why Nigerian banks can’t fund $7bn NLNG Train 7 project– The Sun News
Stakeholders have continued to applaud the Nigerian Liquefied Natural Gas (NLNG) Limited over its decision to source about $7 billion from global financial markets for the construction of its Train 7. The stakeholders, who spoke to Daily Sun in separate interviews, noted that … Read more...- curator
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Business Seven banks reap N244bn in fees, commission – Newtelegraph
Predictions that declining yields on securities, coupled with continuing tight conditions in the credit market, would make deposit money banks (DMBs) in the country to increase their focus on other sources of income seem to be coming to pass. Already, seven lenders raked in a total of N244.15...- curator
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Business Banks borrow N662.8bn from pension funds – Punch Newspapers
Nigerian banks borrowed N662.8bn from the total pension funds under the Contributory Pension Scheme as of the end of May 2018. Figures obtained by our correspondent from the National Pension Commission revealed that this amounted to 8.4 per cent of the total pension assets, which was … Read...- curator
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Business Bank credit to private sector down 1.69% in Q2 2018 – BusinessDay
Credit facilities allocated to the private sector by Nigerian banks declined by 1.69 percent to N15.34 trillion in the second quarter (Q2) of 2018 from N15.60 trillion in Q2 2017 as shown in the most recent Nigerian Bureau of Statistics (NBS) report. The … Read more via BusinessDay : News...- curator
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Business Banks worry as power firms’ debts worsen – Punch Newspapers
Many of the Nigerian banks that gave loans to core investors during the privatisation of the power sector in 2013 may have incurred losses, our correspondent has learnt. It was gathered that the banks had, in the past four years, been struggling to ensure the repayment … Read more via Punch...- curator
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Business Banks record N32.9tn e-transactions in Q2 – Punch Newspapers
A total volume of 509,668,433 transactions valued at N32.90tn were recorded in the second quarter of 2018 as data on electronic payment channels in the country’s banking sector. According to figures obtained from the National Bureau of Statistics, on Monday, Automated Teller Machine … Read...- curator
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Business Central bank directs banks to give loans to agricultural, manufacturing companies at 9 percent – TODAY.NG
The Central Bank of Nigeria (CBN) says it will support banks to enable them to give loans to players in the agricultural and manufacturing sector at a single digit interest rate. Addressing journalists on Thursday after the CBN Bankers’ Committee meeting, Ahmed Abdullahi, CBN director, banking...- curator
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Business Nigerians open 11.2m bank accounts in 6 months – Vanguard News
Nigerians opened 11.2 million bank accounts in the first half of 2018 (H1’2018) comprising 8.3 million savings accounts and 1.8 million current accounts.... Read more via Vanguard News – https://ift.tt/2McugI7 Get more: Nigeria Business News- curator
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Business Compel banks to stop stamp duty deductions, NECA tells FG – NaijaBizCom.Com
The Nigeria Employers’ Consultative Association (NECA) has again called on the Federal Government to compel commercial banks to discontinue the deduction of N50 as stamp duties from the accounts of customers. The Director-General of NECA, Mr Olusegun Oshinowo, made the appeal in an interview...- curator
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Business NIBSS, Banks, Telcos Collaborate To Drive mCASH – Leadership Newspaper
Two years after its initial launch, banks and telecommunication operators in Nigeria have come together to promote mCASH, a payment solution that is meant to be the nation’s version of Kenya’s mPESA. Speaking at the re-launch of the payment solution, the managing director and chief executive...- curator
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Business Aregbesola lauds Omoluabi mortgage bank’s prowess – The Guardian Newspaper
Osun State Governor, Ogbeni Rauf Aregbesola has lauded the managerial prowess of the Board and Management of Omoluabi Mortgage Bank Plc., for recording.... Read more via The Guardian Newspaper – https://ift.tt/2Khap9K Get more: Nigeria Business News- curator
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Business 2017: Commercial banks rake in N656 billion from fees, commission income – TODAY.NG
Thirteen commercial banks quoted on the Nigerian Stock Exchange (NSE) raked in N655.669 billion from fees and commission income last year, figures compiled from the full year 2017 audited results have shown. The amount realised by the banks represented an increase by.... Read more via...- curator
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