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Business

CBN To Speed Up Recapitalisation Exercise For Banks

The Monetary Policy Committee has asked the Central Bank of Nigeria to fast-track the preparations for the proposed recapitalisation exercise of banks.The MPC gave...

Business

CBN Warns Banks Against Issuance Of Substandard Cheques, Set To Sanction Offenders

The Central Bank of Nigeria has warned Deposit Money Banks (DMBS) and cheque printers and personalizers over the surge in substandard ‘Magnetic Ink Character...

Business

Capital Adequacy Ratio Of Banks Drop To 11.2% As CBN Deputy Governor, MPC Members React

The Capital Adequacy Ratio of Nigerian banks has fallen to 11.2 per cent- which is just a few points close to being below the...

Business

Hackers Planning To Sell Nigerian Banks’ Data For $250,000 On Dark Web– Security Expert Raises Alarm

David Sennaike an Information Security Architect stumbled on online advert on the ‘dark web’ and found an account auctioning breached data of 90 per...

Business

Naira Scarcity Induced High Loan Default Among Nigerians, Survey Shows

Nigerian banks were hit with massive loan default when cash scarcity which was caused by the Central Bank of Nigeria’s naira redesign policy hit...

Business

Banks Struggle To Meet Daily Cash Obligations, Borrow N432bn From CBN

Banks in Nigeria are facing liquidity drought and have resorted to borrowing from the Central Bank of Nigeria through the Standing Lending Facility (SLF).As...

Business

Banks Supplying Nigerians With Only 20% Of Currency Demand, Says CPPE Boss

The Centre for the Promotion of Private Enterprise (CPPE) has revealed that Deposit Money Banks (DBM) are receiving barely 20 per cent of the...

Business

JUST IN: Bank Executives, Directors Exceeding 10-12 Years In Position To Resign As CBN Sets Tenure

The Central Bank of Nigeria has reviewed the tenure of Executive Management and Non- Executive directors of Nigerian banks, a move it believes will...

Business

Incessant Attacks: Banks To Be Shut From Monday As ASSBIFI Orders Bankers To Stay At Home

The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has directed all bank workers to stay away from work.The directive is...

Business

Scarcity of new Naira notes hits CBN’s cash swap with banks, First Bank reject PoS agents’ request

The Central Bank of Nigeria (CBN)’s cash swap programme with the Deposit Money Banks (DMBs) has suffered a setback due to scarcity of the...

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