Financial Services
Banking, Insurance and general financial services news
Banks staff experience 44.3% increase in salaries as banks incur N800 billion in 2023
Commercial banks spent a total of N799.8 billion on staff salaries in 2023, representing a 44.3% increase when compared to...
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Bank recapitalisation: FCMB plans to raise N150 billion by end of September 2024
The Management of First City Monument Bank (FCMB) has disclosed plans to raise N150 billion between now and September 2024....
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Ways & means: NASS proposes 21-year imprisonment for breach of CBN Act
The Nigerian Senate has introduced a bill to amend the Central Bank of Nigeria (CBN) Act of 2007, proposing a...
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Top 10 banks with lowest lending rates for real estate businesses in Nigeria
The Central Bank of Nigeria (CBN), under Governor Yemi Cardoso, has increased the monetary policy rate (MPR) by 750 basis...
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Tier-1 Nigerian banks earn N392 billion from electronic business in 2023
Nigerian tier-1 banks raked in N392 billion from electronic business in 2023 as more Nigerians embrace cashless transactions.
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NDIC to pay depositors of 96 failed micro finance banks from debt recoveries, others
The Nigeria Deposit Insurance Corporation(NDIC) has said it will pay depositors of closed microfinance and primary mortgage banks after recovering...
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CBN withdraws circular on cybersecurity levy
The Central Bank of Nigeria (CBN) has withdrawn its circular mandating banks and payment service providers to collect and remit...
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Judge rules CBN can ask for social media handle as part of KYC, “same genre as the provision of email address, phone number”s
The Federal High Court sitting in Lagos has struck out a suit challenging a section of the Central Bank of...
Read moreNASS: New CBN bill proposes N500,000 as minimum fine for naira abuse
The Nigerian Senate has introduced a bill to amend the Central Bank of Nigeria Act 2007, proposing a 900% hike...
Read moreThese are the 10 largest banks in Nigeria – 2024
With a collective asset value nearing N150 trillion across 26 commercial banks, Nigeria's financial sector has witnessed substantial growth, with...
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