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Central bank retains minimum 65% loan deposit ratio

The Central Bank of Nigeria says it has retained the minimum 65 per cent of Loan Deposit Ratio in the interim.

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 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 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.

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.

Central bank intensifies pressure on banks to lend to the economy

In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.

Central bank to withdraw N7.9 trillion dirty, mutilated notes

A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.

Godwin Emefiele: MFBs advanced N482.89 billion credit to MSMEs in 2018

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.

Central bank to issue loans at five percent to SMEs through NIRSAL microfinance bank

The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB).

NDIC becomes full member of Islamic financial board

The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

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