Home Topics Deposit Money Banks

Deposit Money Banks

NDIC paid N100 billion liquidation dividends in 30 years – chief

The Nigeria Deposit Insurance Corporation has said it has paid over N100bn as liquidation dividends to depositors of closed Deposit Money Banks in the last 30 years. It said the amount was in excess of the insured deposits.

NDIC to adopt cost-effective bank failure resolution method

The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of its drive to adopt cost effective method of bank failure resolution to protect depositors.

NDIC: Savannah Bank remains licensed to operate

The Nigeria Deposit Insurance Corporation (NDIC) has insisted that the defunct Savannah Bank remains a bank with operational licence even though it is currently not in operation.

NDIC pays N116 billion liquidation dividends

The Nigeria Deposit Insurance Corporation (NDIC), has paid depositors, creditors and shareholders of failed banks the sum of N 116.258 billion as Liquidation Dividends.

Central bank deducts N500 billion from Zenith, GTB, Citibank, UBA, 8 others

The Central Bank of Nigeria has deducted N500 billion from the accounts of 12 banks for failing to meet the target to provide credit to their customers.

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.

Central bank sends strong message to banks on giving loans

The Central Bank of Nigeria has directed commercial banks to raise their Loan-to-Deposit Ratio from 60 to 65 per cent before December 31, 2019 deadline.

Nigeria loses over N3 trillion in non-oil exports – NEXIM chief

Nigeria has lost about $10 billion (about N3.6 trillion) over the past five decades in non-oil export opportunities, comprising crops such as cocoa, oil palm, cotton and groundnut.
The Nigerian Financial Intelligence Unit (NFIU) has disclaimed reports that it requested the bank account details of officers of the national assembly and the judiciary.

Wealthy Nigerians on edge over NFIU searchlight

Recalcitrant tax defaulters, high-end politicians, top civil servants, businessmen and other wealthy Nigerians with questionable sources of income are now in panic mode as the Nigerian Financial Intelligence Unit (NFIU) and other anti-graft agencies began beaming their searchlight on them in line with the Federal Government’s effort to retrieve state funds tallegedly siphoned in shady transactions.

Central bank apologises for cashless policy inconveniences

The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the reintroduced cashless policy will cause.
Central Bank of Nigeria - CBN

Central bank orders private, public firms to pay salaries, taxes, pensions electronically

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.

Central bank urges fintechs, payment service providers to stick to standards

The Central Bank of Nigeria has urged financial technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to policy framework and standards that guide their respective operations in the ecosystem in which they operate.

CAFEi urges CBN to extend deadline for mutilated notes return

Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the initiative.

Central bank alerts on fraudulent loan schemes

The Central Bank of Nigeria (CBN) on Monday warned loan seekers and owners of small-scale businesses to beware of fraudulent loan offers purportedly by the Federal Government.

Central bank warns against fraudulent loan offers

The Central Bank of Nigeria (CBN) has warned Nigerians to beware of fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).

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.

CBN: Currency circulation rose to N2.16 trillion in April

At N2.158tn, currency-in-circulation, on month-on month basis, rose by 0.3 per cent at end-April 2019, the Central Bank of Nigeria has said.

Lagos chamber: Central bank lending rate will normalise credit market, economic growth

Lagos Chamber of Commerce and Industry (LCCI) says the lending policy of the Central Bank of Nigeria (CBN) will normalise the credit markets, spur economic growth and broaden the interface between entrepreneurs and the banking industry.

Recent Stories

A New York judge on Thursday ordered Donald Trump to pay $2 million for using his former charity to further his political and business interests, adding to the president’s legal woes.

Donald Trump lashes out at second witness, as lawyer says ‘no crime’

U.S. President Donald Trump lashed out at a government official who will testify in public in the coming week, as part of the impeachment inquiry.
Candidate of the APC, Chief David Lyon (middle); Senator Biobarakuma Degi-Eremienyo (Left), Deputy Governorship Candidate and Hon. Jothan Amos (Right), State Chairman of APC Bayelsa in Ekeremor Town on Saturday during the APC Governorship Campaign Rally.

Bayelsa election: APC UK tasks David Lyon on good governance

The All Progressives Congress (APC) United Kingdom chapter, has urged the newly elected governor of Bayelsa, Mr David Lyon to see his election as a call to higher service.
Nigeria national team coach Gernot Rohr has lifted the lid on why he makes late substitutions in games.

AFCONQ: Gernot Rohr makes stunning remarks after Nigeria’s win over Lesotho

Gernot Rohr is not bothered about Super Eagles conceding first as long as they emerge victorious at the end of the game.
Senator Godswill Akpabio

Senator Akpabio consults PwC, KPMG over forensic audit of NDDC

There were indications at the weekend that the presidency may have tasked Senator Godswill Akpabio, Minister of Niger Delta Affairs, with securing the services of a reputable accounting and auditing firm to look into the accounts of the Niger Delta Development Commission (NDDC) between 2000 and 2018.
Inter Milan Milan Skriniar

Barcelona and Real Madrid join fight to sign Milan Škriniar

Real Madrid and Barcelona will battle it out this January to sign Milan Škriniar but the Inter defender won’t come cheap.