The International Monetary Fund on Tuesday expressed concerns over weaknesses in Nigerian banks and said that the situation might weigh on economic growth in the medium term. The IMF stated this in its World Economic Outlook report, which was released at its headquarters in Washington DC, United States. In the report, the IMF maintained that […]
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As palpable fear hangs over the fate of Etisalat Nigeria, there is every likelihood that reprieve may come the way of the telecommunications firm this week as the consortium of 13 banks have agreed to truce brokered by the banking and tecommunication regulators. According to the acting Director, Corporate Communication of the Central Bank of […]
Read More Etisalat Nigeria has initiated changes to its shareholding structure after talks with lenders to restructure a $1.2 billion debt failed, the company said on Tuesday. The telecoms firm has been in talks with Nigerian banks to restructure its loan after missing repayments but those discussions failed to produce an agreement, Abu Dhabi listed Etisalat said. […]
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Bank customers paid ₦138 billion as electronic payment charges in 2016 to the top ten banks in the country. This represented 26 per cent increase when compared to the ₦109.1 billion paid to the banks in 2015. The charges, as stipulated in the Guide to Bank Charges of the Central Bank of Nigeria (CBN) include: […]
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FitchRatings yesterday said Nigerian banks will continue to face challenges this year, following an extremely difficult 2016. It explained that banks faced multiple threats from the operating environment in 2016, including Nigeria sliding into recession, the economy continuing to suffer from low oil prices and severe shortages of foreign currency. It said lenders have struggled […]
Read More Federal Government is set to investigate the 22 Money Deposit Banks operating in the country to determine how much they have gathered so far since they started collecting stamp duty fees on deposits into banks accounts, investigation has shown. Correspondent gatheredd that some of the banks had not been faithful in remitting all the funds […]
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