Finance ministry budgets N75 million to monitor banks next year
The Federal Ministry of Finance has allocated N75 million in its proposed 2025 budget to monitor the activities of banks ...
Tag: banks
News and analysis about banks
CBN grants banks approval to trade idle FX deposits from ‘designated domiciliary’ accounts
The Central Bank of Nigeria (CBN) has given the green light to commercial, merchant, and non-interest banks operating in Nigeria ...
High interest rate, inflation to increase non-performing loans of Nigerian banks – Fitch report
Credit ratings agency, Fitch has projected that non-performing loans of Nigerian banks will increase in 2024 on the back of ...
CBN extends suspension of cash deposit processing fees till March 31st, 2025
The Central Bank of Nigeria (CBN) has extended the suspension of cash deposit processing fees from September 30, 2024 to ...
Windfall tax: FG collecting taxes on already reported profit could deter future investment – PwC
Tax and Advisory Service firm, PricewaterhouseCoopers (PwC) has stated that the federal government’s latest legislation to tax already reported profits ...
Why global banks control forex trading
Bank traders account for 92% of all Forex trading activity.
CBN to transfer N5.5 trillion development finance activities to private banks, DFIs
The Central Bank of Nigeria (CBN) plans a major restructuring in its operations, aiming to transfer about N5.5 trillion in ...
Forex crisis: EFCC receives Court’s approval to freeze 1,146 accounts involved in illicit transactions
A Federal High Court in Abuja has approved an interim order requested by the Economic and Financial Crimes Commission (EFCC) ...
Recapitalization: Exclusion of retained earnings seen increasing dividend payout
The exclusion of retained earnings from the computation of minimum capital by the CBN is likely to lead to increased ...
Fintechs, banks collaboration key to financial inclusion in Nigeria – Sydney Aigbogun
The Chief Executive Officer of the fintech company CashBox, Mr. Sydney Aigbogun, has stated that collaborations between banks and fintechs ...
