Financial Services
Banking, Insurance and general financial services news
Insurance companies to report over N100 billion in claims in 2020
Listed Insurance companies to incur over N112 billion in claims in 2020.
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Nigerian Banks non-performing loan ratio blows past CBN regulatory limits
The Non-performing loans of Nigerian banks rose to 6% as of December 2020.
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Top Nigerian banks profitability likely to remain under pressure in 2021
EFG Hermes anticipates Nigeria's leading banks' earnings in 2021 will remain under pressure in the near term.
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Nigerian banks issued N774.28 billion new loans in December 2020
Banking sector credit grew to N25.02 trillion as at December 2020.
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Union Bank Nigeria Plc issues disclaimer against purported sale of owner’s stake
Union Bank has rejected claims that its majority shareholder, Atlas Mara is considering selling its 50% stake.
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Ecobank Nigeria secures N50 billion 10-Year subordinated loan
Ecobank Nigeria has secured a N50 billion, 10-year bilateral subordinated loan.
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Niger Insurance Plc gets shareholders nod to restructure business
Niger Insurance Plc has announced plans to restructure its insurance business into distinct but mutually dependent business entities.
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CBN says revised new cheque book to become fully operational from April 1, 2021
The CN has announced plans to discontinue the use of old cheque books with effect from March 31, 2021.
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Interest rates will remain low until the end of H1 2021 – Meristem Securities
Meristem Securities has argued that interest rates will remain low until, at least, the end of H1 2021.
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CBN issues framework for QR payments
CBN has issued a framework that would guide Quick response (QR) code payments in Nigeria.
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