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Banks

NGX Market Cap Down By N606bn, Traders Seal N50bn Deals

Equity Traders Partake In 54,212 Deals On NGX, Trade 758.98m Shares

January 6, 2026

Over N468.58 billion was added to the market capitalisation of the Nigerian Exchange (NGX) on Tuesday, January 6, pushing the bourse’s valuation to N102.27 trillion. The market capitalisation of the NGX, also

ATM Withdrawal Fee: Crisis In Making For Small Businesses?

Business News·Top Stories

CBN Raises ATM, POS Cash Withdrawal Limit, Issues 10 Directives To Banks

December 3, 2025

The Central Bank of Nigeria (CBN) has increased the cash withdrawal limit on automated teller machines (ATMs) and point of sale (POS) devices to N500,000 weekly for individuals and N5 million for

Business News·Top Stories

Sterling, Stanbic IBTC Among Five Best-Performing Bank Stocks In Q3 2025

December 1, 2025

In the third quarter (Q3) of 2025, the 11 banks trading on the Nigerian Exchange (NGX) Limited recorded growth, according to Prime Business Africa’s (PBA) analysis. The banks are Sterling Financial Holdings

Business News·Top Stories

Nigerian Regions With Highest Bank Majority Shareholders

July 25, 2025

The south-west and south-south regions have the highest majority shareholders in the banking industry, followed by the south-east and the north, according to analysis by Prime Business Africa. This publication covers the

Business News·Top Stories

Access Holdings Drops, Stanbic IBTC Rises On Nigeria’s Trillion-Naira Bank List

June 26, 2025

The number of banks worth over a trillion naira in the stock market has increased from five to seven on Wednesday, June 25, as Fidelity Bank joined the list after its market

Business News·Top Stories

CBN Fines Zenith Bank, Fidelity Bank, GTCO, Six Other Banks N16.98bn

June 9, 2025

The Central Bank of Nigeria (CBN) fined commercial banks N17.35 billion in 2024, with the penalty increasing by N16.98 billion compared to the N369,71 million the financial institutions paid in 2023. According

Business News·Top Stories

Top Five Most Valuable Banks In Nigeria

April 30, 2025

The Guaranty Trust Holding Company (GTCO), Zenith Bank, United Bank for Africa (UBA), Access Holdings and First HoldCo are the top five most valuable banks in Nigeria. According to Prime Business Africa’s

Business News·Markets

Banks Shift Climate Targets Amid Global Economic Realities

April 15, 2025

In a significant move, major banks have voted to adjust their climate targets, abandoning a more stringent goal to align all sector financing with 1.5 degrees Celsius above pre-industrial levels by mid-century.

Forex Crisis: CBN Sells $122.67m To 46 Authorised BDC Operators

Business News·Currency·News

CBN Revises Guidelines For Foreign Currency Deposits

June 29, 2024

The Central Bank of Nigeria (CBN) has released new guidelines for the deposit of foreign currency notes by Deposit Money Banks (DMBs). In a circular dated 27 June 2024 signed by CBN’s

News

EFCC Tasks Banks’ Compliance Officers on Corruption, Money Laundering

May 10, 2024

Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has charged banks’ compliance officers to be diligent in the discharge of their duties and always provide the Commission with

How Nigeria’s External Reserves Rose By 5.6% To $38.8bn In 2024 — CBN

Business News

CBN Speaks On Current Cash Scarcity In Parts Of Nigeria

November 2, 2023

CBN has reacted to reports of cash scarcity in some locations, assuring that there is sufficient bank notes for economic activities.

Business News

Banks Adopt Plan To Repay MTN, Airtel, Others N120bn USSD Debt

August 9, 2023

Deposit Money Banks (DMBs) have adopted a repayment plan to resolve their faceoff with telecommunications firms over the use of the Unstructured Supplementary Service Data (USSD) service by the banks’ customers. The

Opinion

Fighting Cybercrime In Banks

July 3, 2023

Rising cases of cybercrime in the banking industry is becoming a big headache to bankers, customers and law enforcement agencies in the country. With so many people highly skilled in hacking techniques

Governor of Nigerias Central Bank Godwin Emefiele

Business News

Emefiele Directs Bank CEOs To Start Accepting, Disbursing Old Naira Notes

March 13, 2023

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed the Chief Executive Officers of Deposit Money Banks (DMBs) to start accepting and paying out the old Naira notes.

CBN Reveals JP Morgan’s Intention After Report On Nigeria’s Foreign Reserves

Business News

UPDATED: CBN’s Open Banking Allows Banks, Others To ‘Trade’ Customers’ Data

March 9, 2023

Deposit Money Banks (DMBs), other financial institutions and companies can now share customers’ data, in a bid to create innovative products, according to a new circular released by the Central Bank of

Naira Float: 40% Of Nigerian Banks May Raise New Equity Capital

Business News

Nigerian Banks Address Shutting Down Operation For Presidential Election

February 23, 2023

Nigerian banks have denied reports that financial institutions plan to shut down operations due to the presidential election holding on Saturday, 25 February 2023. Messages have been circulated through WhatsApp that all

Naira Policy: CBN Mops Up N1.6 trillion In Just I Month

Business News

CIBN Addresses Report Of Banks’ Collapse, NSPMC Inability To Print New Naira Notes

February 13, 2023

The President and Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, has allayed fears that some Nigerian banks could completely shut down following the failure of the Naira

Nigeria's Treasury Bills Surpass N6.6trn In 2023 Amid Economic Headwinds

Business News

Naira Hawkers Face Arrest, CBN Says Banks Ignoring New Banknotes

January 19, 2023

The Central Bank of Nigeria (CBN) has threatened to arrest persons selling the new naira notes, as it begs banks to come collect the redesigned currencies. During a sensitization programme on Wednesday,

Nigerian Banks Earn N135.52 Trillion From CBN's Naira Policy, E-Payment

Business News

CBN’s Godwin Emefiele Tells GTBank, Zenith, Others To Source Non-oil Export Forex

December 12, 2022

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has urged banks to source for foreign exchange (forex) through non-oil exports. Emefiele said Nigerian banks, which consist of GTBank, Zenith

CBN Places Service Restriction On PoS Agents Across Nigeria

Business News

CBN Warns Banks Rejecting ATM’s Amid Customer Complaints

December 8, 2022

CBN Warns Banks switching companies, and other relevant parties warned against rejecting payment cards issued by other financial institutions. The Central Bank of Nigeria (CBN) made the warning in a circular titled,

Business News·Insights·Real Estate

House Rent, Cost Of Goods To Rise, As Nigerian Banks Raise Loan Interest

June 9, 2022

Nigerian banks have began to implement the 13% interest rate to mortgage, corporate and personal loans, after the Central Bank of Nigeria (CBN) raised the percentage in May, by two percents, from

Call CBN to arrest POS agents selling naira notes

Business News·Opinion·Top Stories

POS Terminals: Fraud And Alerts

March 14, 2022

By Marcel Mbamalu The landscape of Nigeria’s financial institutions has, in recent times, witnessed interesting changes that simultaneously embrace and challenge technological advancements. Point of Sale (POS) technologies have become the most

UROMI ROBBERY UPDATE: Sacks of Cash Recovered As Youths Block Robbers

February 26, 2022

The timely intervention of Ubiaja youths helped in recovery of sacks of cash allegedly stolen in at least five banks in Uromi, headquarters of Esan North Local Government Area of Edo State

Editorial·News

Double Whammy In NDIC, AMCON Travesty For Banks

February 7, 2022

If the Asset Management Corporation of Nigeria (AMCON) is a going concern and would continue to buy bad loans and bad banks, what then is the need for NDIC, given the overlapping

Nigerian Banks Rely More On Liquidity, As Borrowing From CBN Rises To N19.8trn

Business News·Finance & Economy

Imports: Banks Rally Elite Customers For New Product Price Verification Mechanism

February 1, 2022

Banks are now sending out notices to potential import and export business customers for the first phase of the Central Bank of Nigeria (CBN) workshop on the new Product Price Verification Mechanism

News

Address Cash Crunch In Banks, Afe Babalola Urges FG

January 4, 2022

Founder of Afe Babalola University, Ado-Ekiti (ABUAD), Chief Afe Babalola has called on the Federal Government to address the scarcity of cash currently being experienced in the commercial banks across the country.

GTCO, First Bank Fail To Make Top Five Performing Nigerian Bank Stocks In H1 2023

Finance & Economy

Banks Record N1.3tn Non-Performing Loans – CBN

December 14, 2021

Commercial Banks in Nigeria, according to the Central Bank of Nigeria, recorded non-performing loans of N1.3tn as of November which is still currently above the industry benchmark. Figures obtained from the CBN

Finance & Economy

Nigeria’s Top 5 Banks’ Earnings Rise Above N1.5trn, Profit Up By 39.4%

November 24, 2021

Despite the backdrop of the positive growth reported for the Nigerian economy in the second quarter 2021 amidst the adverse effect of the COVID-19 pandemic and the drop in Nigeria oil production,

Finance & Economy

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