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Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
Financial analysts are speaking in discordant tones over the 3.5 percent decline in Nigerian banks’ non-performing loans (NPLs) as of the third quarter of 2020 as shown by latest figures from the National Bureau of Statistics (NBS).
Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru (ALK) has renewed the call for legislative support to his agency.
The Chairman Senate Committee on Banking Insurance and other Financial Institutions, Uba Sani, has said that his committee and the Asset Management Corporation of Nigeria (AMCON) have identified the strategies being employed by debtors to stall the repayment of loans, including the dragging of court cases for many years.
Nigerian banks recovered N50.32 million within nine days from debtors after the financial institutions began the Global Standing Instruction (GSI) which enables banks to retrieve their loans from debtors’ accounts in other banks.
The Bureau of Public Enterprises has opposed the reversal of the privatisation of the country’s power sector despite calls on government from different quarters to repossess the power generation and distribution companies.
The $57 oil benchmark adopted by the Federal Government in the 2020 budget may be unrealistic as the Central Bank of Nigeria (CBN) has called for its downward review.
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, CBN, has released a new clause that mandates borrowers to agree that their loan balances would be offset from their bank balances across the industry.
The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.
Standard and Poor’s Global rating agency has affirmed its ‘B/B’ long-term issuer credit ratings and ‘ngA/ngA-1’ Nigeria national scale ratings on Access Bank and discontinued its ‘CCC+/C’ issuer credit ratings and ‘ngBB/ngB’ Nigeria national scale ratings on Diamond Bank.
One of the leading global rating agencies, Moody’s Investors Service, has stated that the recent business combination agreement between Access Bank Plc and Diamond Bank will be “credit positive” for the overall Nigerian banking system.
The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
The task assigned to the Asset Management Corporation of Nigeria (AMCON) to recover over N5 trillion debt may be a tall order except high court judges rally round the bad debt bank.
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
The Asset Management Corporation of Nigeria (AMCON), says 2018 will be a busy year because it plans to dispose assets like Aero Contractors and Arik Air.
The International Monetary Fund (IMF) has advised that Nigeria increase excise tax and monetary policy rate as parts of efforts being made to strengthen the economy.
The SBG Securities (Pty) Limited of South Africa, a wholly owned subsidiary of the Standard Bank Group, has projected that about nine commercial banks in Nigeria would be able to pay dividends this year, despite the adjustment to the dividend payout policy issued by the Central Bank of Nigeria (CBN) recently.
Seven Systematicaly Important Banks (SIBs) of the Central Bank of Nigeria (CBN) have paid N499 billion on income tax expenses between 2011 and 2016
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The suspended Managing Director of Nigerian Port Authority, Hadiza Bala Usman on Thursday said that truth will always triumph.
Governor Samuel Ortom of Benue State on Thursday said any Nigerian opposed to the Southern Governors’ decision banning open grazing of cattle has a hidden agenda.
Commissioner of police in Cross River State, Sikiru Kayode Akande, has raised the alarm that intelligence sources have confirmed massive infiltration of strange characters and suspected criminals.
The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN, on Thursday, said the Federal Government would prosecute 400 suspected Boko Haram financiers.
Nigeria’s renowned musicians, Innocent ‘2Baba’ Idibia and Chike, ‘boo of the booless’ crooner, are to perform at the launch of the Nigerian Exchange Group (NGX Group) Plc’s campaign.
Voters in an opposition stronghold turned en masse to British Prime Minister Boris Johnson's Conservatives, boosting his parliamentary majority on Friday despite a high COVID-19 death toll, last year's record economic slump and cronyism charges.
The General Overseer of Life Bible International Church, CTLBIC, in Rivers State, has warned the federal government to stop fighting the leader of Adoration Ministry, Enugu State, Rev. Father Ejike Mbaka, adding that the efforts may ridicule the government.
There were echoes of war in the South East before he was appointed the Acting Inspector-General of Police. The situation was such that policemen went about their lawful duties in mufti.
Eid-el-Fitri: APC urges Muslim faithful to utilise spiritual reset mode to pray against banditry,...
The All Progressives Congress, APC, in Oyo State, has charged Muslim faithful to use their spiritual reset mode to pray for the country for peace against the current malaise of banditry, insurgency and kidnapping that is threatening the corporate existence of Nigeria.
Manchester United midfielder Bruno Fernandes set another club record with his goal in victory at Aston Villa on Sunday.