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CBN suspends loans on intervention programmes, mandates banks to recover existing facilities

The Central Bank of Nigeria (CBN) has announced the suspension of applications for new loans under its development finance intervention funds.This is even as...

How banks lure state governments into debt-trap —FRC

The Fiscal Responsibility Commission (FRC) has expressed dismay at how banks in the country lure many state governments into debt traps by offering mouthwatering...

Amid challenges, manufacturers’ debt to banks hits N6.9tr in H1’23, CBN report reveals

Amid a headwind of challenges ranging from multiple taxation, forex scarcity, and low patronage of locally produced goods, the debt owed by manufacturers to...

Telcos may approach court over N120bn USSD debt, threaten service withdrawal

There is yet to be an end to the controversies surrounding the about N120 billion owed telecommunication companies by banks in the country for...

Why You Shouldn’t Use Bank Loan To Start A Business- Expert Explains

As the push for more Nigerians to start their own business rather than wait for paid jobs heightens, a financial expert, Kalu Aja, has...

CBN stops Nigerian banks from using forex gains to pay shareholders, fund operations

The director of the banking supervision department of the Central Bank of Nigeria (CBN), Haruna Mustafa, said deposit money banks (DMBs) have been barred...

Banks, telcos settle USSD billing disagreement after N120bn debt

Telecommunications companies and Deposit Money Banks (DMBs) have resolved their disagreement over the debt rising from the billing of the Unstructured Supplementary Service Data...

Nigerian Bank Employees to Join NLC’s Two-Day Strike Acton

The National Union of Banks, Insurance and Financial Institutions Employees, NUBIFIE, today, has released a statement announcing that all banks would be closed on...

Zenith Bank appoints Juliet Ehimuan as Non-Executive Director

The Board of Directors of Zenith Bank Plc has appointed Dr. Juliet Ehimuan as a Non-Executive Director of the bank effective August 29, 2023....

Fraud Cases Rise As 24 Banks Lost N5.79bn In Three Months

The incidents of fraud in the banking sector assumed an upward trend in the second quarter of this year as 24 Deposit Money Banks...

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