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Banking Industry

The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank, bankers committee suspend planned lay-offs in banks

The Spokesman of CBN, Isaac Okorafor in a statement said a special meeting of the Bankers’ Committee was convened on May 2, 2020, to further review the implications of the COVID-19 pandemic on the Nigerian banking industry.

Group launches campaign on digital economy awareness

A team of Nigerian media professionals have launched (DEMS Volunteers’), with a view of leading nationwide awareness and campaigns on Digital Economy.

No Nigerian bank is distressed – central bank chief

Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, yesterday, allayed fears on speculations of alleged insolvency in about seven banks following their failure to scale through a recent stressed conducted by industry regulators.

Central bank mandates commercial banks to give out more loans

A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.

Stakeholders react to presidential directive on forex restriction

Stakeholders have continued to react to the recent directive given by President Muhammadu Buhari to the Central Bank of Nigeria (CBN) to restrict forex on food items being imported into the country.
Seyi Makinde

Oyo warns firms over evasion of payment for road setbacks

Oyo State has warned business organisations that built on the mandatory setbacks on major roads to pay for the spaces or have them taken over.

NDIC: Banks’ profit up by 106% to N310 billion in 2018

The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.

Central bank commences disbursement of initial N30 billion loan for palm oil production

A concerted effort to end oil palm importation and locally grow the crop on a large-scale basis has kicked off, with the Central Bank of Nigeria (CBN) allocating an initial N30 billion for the project, which it said is already being disbursed to beneficiary farmers in identified states.

Bank chiefs to go tougher on bad debtors

The Committee of Banks’ Chief Executive Officers in Nigeria has said that there is an urgent need for all banks to cooperate and collaborate to identify and go tougher on chronic debt defaulters.
AMCON chief Ahmed Kuru

Ahmed Kuru: Why airlines fail in Nigeria

The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, says airline business in Nigeria requires stiffer aviation industry regulations to succeed.

Centrabk bank orders banks to return failed transfers within 10 minutes

The new regulation covers Instant Electronic Funds Transfer Services in Nigeria on various payment channels and any payment platform that seeks to provide Instant Electronic Funds Transfer Services in Nigeria.

Unpaid N800bn subsidy debt creates liquidity gap in oil industry

Some stakeholders in the banking industry on Tuesday said the unpaid N800bn subsidy arrears to oil marketers had created liquidity gap in the industry.

Recent Stories

Medical council validates four coronavirus test kits – registrar

The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Legendary reggae artiste, Majekodunmi Fasheke, aka Majek Fashek is dead. The artiste died in a New York hospital after a protracted illness on Monday about 5-45pm. He was aged 71.

Nigerian celebrities mourn deceased Majek Fashek

Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.

Rwanda set to announce new coronavirus restrictions

Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigerian President Muhammadu Buhari3

Nigeria declares telecoms facilities critical national Infrastructure

In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
President Muhammadu Buhari has again, addressed Nigerians on the efforts of its government to contain the coronavirus pandemic (covid-19) that is ravaging the country 4

ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot

Alliance for Surviv­ing COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Mu­hammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion con­tradicts the figures earlier released by his own officials.