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The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

Energy firms’ bank debts rise to N5.94 trillion

The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

2021: Banks to walk a tightrope amid low revenue environment

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.
The recent declaration by the court that N50 stamp duty on teller deposits or electronic transfer of funds is illegal is in order, frontline Lagos Lawyer, Fred Nzeako, has said.

Analysts divided over drop in banks’ non-performing loans

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).

AMCON urges Senate to compel obligors to pay N5 trillion debt

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.
Senator Uba Sani advised the Southern Kaduna leaders to pull the brakes, move for a rapprochement with the State Government, and collectively work out strategies for frontal battle against bandits wreaking havoc on the communities and people.

Senate, AMCON adopt measures against saboteurs – Uba Sani

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.
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.

GSI: Banks recover N50 million in nine days from debtors’ external accounts

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.

BPE opposes power companies’ sale reversal, proposes subsidy

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.

$57 budget 2020 oil benchmark unrealistic – central bank

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.

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.

Loan default: Central bank approves new clause to set off balance

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.

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.

Standard & Poor’s affirms Access bank ratings outlook stable

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.

Moody’s: Access, Diamond deal, positive for Nigerian banking system

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.

HSBC, UBS shut down offices in Nigeria

The Central Bank of Nigeria on Friday said two foreign banks, HSBC and UBS, have closed their offices in Nigeria.
Nigeria's acting finance minister Zainab Ahmed addressing a press conference in Abuja....Twitter-ZShamsuna

Finance minister seeks probe of bank chiefs

Nigeria’s Minister of Finance, Zainab Ahmed, has expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed wants investigation, prosecution of bank chiefs over non-performing loans

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.

Adamu Kafarati: AMCON can’t recover N5.4 trillion debt without judiciary

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 | GTB | GTBank

GTBank reports profit before tax of ₦109.6 billion in H1 2018 audited results

Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.

AMCON may dispose Aero Contractors, Arik Air in 2018

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.

IMF advises Nigeria to increase monetary policy rate, excise tax

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.

2018: Nine banks to meet new central bank dividend payout policy – report

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.

Zenith Bank, UBA, others pay N499 billion on income tax expenses

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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President Muhammadu Buhari has approved the re-appointment of Hadiza Bala Usman as Managing Director of Nigerian Ports Authority (NPA), for additional five-year tenure.

Suspended NPA boss: Truth will always triumph

The suspended Managing Director of Nigerian Port Authority, Hadiza Bala Usman on Thursday said that truth will always triumph.
Benue State Governor, Samuel Ortom has expressed deep sadness over the deaths of his Special Adviser on Local Government and Chieftaincy Affairs, Mr. Jerome Torshimbe, and his Personal Assistant on Special Duties, Mr. Famous Adejo.

Benue governor: Opposers of Southern governors ban on open grazing have hidden agenda

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.

Police alarmed at criminal infiltration into Cross River

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,

AGF: Nigerian government set to prosecute 400 Boko Haram financiers

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.

2Baba, Chike to perform at NGX Group’s launch

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.

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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.

Voters flock to British premier’s party as Labour loses northeast stronghold

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.
Ejike Mbaka

Nigerian government warned to stop fighting Father Mbaka

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.
The Inspector General of Police, Ag. IGP Usman Alkali Baba, has ordered the posting of CP Christopher A. Owolabi as the new Commissioner of Police (CP) in charge of Anambra State Police Command.

IGP vows to improve public safety

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.
All Progressives Congress (APC) Nigeria

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 came from behind yet again in the Premier League to overcome Aston Villa 3-1 at Villa Park and make rivals Manchester City wait longer for the title to be confirmed.

Bruno Fernandes breaks another Manchester United, Premier League record

Manchester United midfielder Bruno Fernandes set another club record with his goal in victory at Aston Villa on Sunday.