Banking & Finance
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87CBN Unveils List of Licensed Deposit Money Banks
Amidst the rush for recapitalisation, four deposit money banks in the country have upgraded their banking licence from regional banking to national...
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79Cashless: CBN Suspends Charges on Cash Deposits
The Central Bank of Nigeria (CBN) has directed banks to stop charges on cash deposits until September 30, 2024. CBN disclosed this...
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104FG to Delist Naira from Crypto Trading Platforms
In a latest effort to crackdown on naira manipulators in the foreign exchange market, the Federal Government, through the Securities and Exchange Commission...
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111Banks Borrowing Drops by ₦23.99tr
Nigerian banks’ lending, in the month of March, to the private and public sectors dropped by N23.99 trillion, data from the Central...
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90CBN Orders Cybersecurity Levy Deductions on Electronic Transfers
The Central Bank of Nigeria (CBN) has directed 0.5 percent Cybersecurity Levy deductions on electronic transfers. A circular issued by the CBN yesterday,...
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208Currency in circulation rises to ₦3.87tr –CBN
The value of Nigeria’s currency in circulation has risen to N3.87tn at the end of March. According to the latest money and...
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153FG Directs Banks to Deduct Stamp Duty Charges on Mortgages
The Federal Government has directed Deposit Money Banks to immediately begin the deduction of 0.375 per cent stamp duty charge on all...
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268NDIC Raises Insurance Coverage for Banks to ₦5m
The Nigeria Deposit Insurance Corporation (NDIC) has raised deposit insurance coverage for all licensed deposit-taking financial institutions in the country with immediate...
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88
Banks Close 2 million Accounts Over BVN, NIN, Others
Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, in effort to clean their books of questionable accounts...
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9FCMB Group Records 186% Profit Growth, Proposes 50k Dividend
For the year ended December 31, 2023, FCMB Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its...
