NDIC Moves to Wind Up 89 Failed Microfinance and Mortgage Banks After Successful Rescue
The Nigeria Deposit Insurance Corporation (NDIC) has begun the final stage of liquidating 89 defunct Microfinance Banks (MFBs) and Primary ...
Tag: banks
CBN Controversial Law – Is This Protecting Lenders or Shielding the Powerful?
The Central Bank of Nigeria (CBN) has sparked fresh debate in the financial sector with a bold proposal that could ...
CBN Directs Banks and Fintechs to Complete Cybersecurity Self-Assessment Within 21 Days
The Central Bank of Nigeria (CBN) has given deposit money banks three weeks to complete a new Cybersecurity Self-Assessment Tool ...
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 ...
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 ...
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