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Deposit Money Banks
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.
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of its drive to adopt cost effective method of bank failure resolution to protect depositors.
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.
A new directive by the Central Bank mandates Nigerian banks to give N65 as loans for every N100 they have as deposits.
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 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.
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.
The Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the reintroduced cashless policy will cause.
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.
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.
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.
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).
The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.
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 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.
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.
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.
Gernot Rohr is not bothered about Super Eagles conceding first as long as they emerge victorious at the end of the game.
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.
Real Madrid and Barcelona will battle it out this January to sign Milan Škriniar but the Inter defender won’t come cheap.
President of Nigeria Football Federation, Amaju Pinnick, has hinted that the Super Eagles’ coach, Gernot Rohr, would be offered a new deal next summer.
Despite the tension and pockets of violence in some parts of Kogi state, INEC has called on eligible voters to come out en mass to exercise their franchise today.
Blackout is looming from the Nigerian Electricity Supply Industry (NESI) as the Generation Companies (GenCos) on Sunday threatened to shutdown production should the Federal Government refuses to disburse the N600billion intervention fund.
Former World Cup and Champions League-winning coach Marcello Lippi has announced his resignation as manager of the Chinese national team after a World Cup qualifying defeat to Syria.
A socio-political group under the auspices of One-on-One4GYB/CEDO has said it has treated over 3,000 Kogi indigenes who were suffering from various ailments free of charge.