NDIC Accelerates Payouts for Failed Banks: BVN Link Now Key to 72-Hour Access
The Nigeria Deposit Insurance Corporation (NDIC) has significantly sped up the process of reimbursing depositors when a bank fails, promising ...
Tag: banks
CBN Confirms 20 Banks Meet New Recapitalisation Requirements as March Deadline Looms
The Central Bank of Nigeria (CBN) has announced that 20 deposit money banks (DMBs) have fully complied with the new ...
Nigeria’s Leading Banks Post N4.1 Trillion in Profits Over Nine Months
Nine of the country's largest banking institutions collectively earned N4.115 trillion in profit after tax during the first three quarters ...
Union Bank, FCMB Shift USSD Charges to Airtime Billing
Union Bank and First City Monument Bank (FCMB) have announced that, starting July 1 and July 2, 2025, respectively, USSD ...
Fitch Ratings Warns of Rising Risks for Nigerian Banks
Fitch Ratings has raised concerns over the growing risks faced by Nigerian banks, citing their heavy reliance on government debt ...
Nigerian Banks Face N3.77 Trillion in Loan Losses Since 2023
Ten commercial banks listed on the Nigerian Exchange (NGX) have collectively incurred N3.77 trillion in loan impairment charges from 2023 ...
Banks’ Deposits with CBN Surge 1,578% to N53.5 Trillion in 2025
On June 4, 2025, data from the Central Bank of Nigeria (CBN) revealed that commercial banks’ deposits with the apex ...
NCC Approves Telcos to Disconnect USSD Services for Nine Nigerian Banks Over Debt
The Nigerian Communications Commission (NCC) has authorized mobile network operators, including MTN, Airtel, Globacom, and 9mobile, to disconnect the USSD ...
Banks Increase Daily Withdrawal Limit to ₦50,000
In a move to ease cash availability, Deposit Money Banks in the Federal Capital Territory have raised their maximum over-the-counter ...
Top Nigerian Banks Report Remarkable Profit Surge in First Half of 2024
In a notable financial turnaround, six prominent Nigerian banks have reported substantial increases in pre-tax profits for the first half ...
