Nigerian Banks’ Stocks Surge As Market Capitalization Hits N45trn Mark
Nigerian Exchange Limited witnessed an unprecedented surge, propelling the market capitalization to cross the monumental N45 trillion mark.
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Nigerian Banks Rely More On Liquidity, As Borrowing From CBN Rises To N19.8trn
In 2023, commercial and merchant banks in Nigeria increasingly sought liquidity from the Central Bank, with borrowing soaring by 32.07% to N19.81 trillion
NDIC Announces N61.63bn Payout To Failed Banks’ Stakeholders
The Nigeria Deposit Insurance Corporation (NDIC) plans to disburse N61.63 billion as liquidation dividends to depositors, creditors, and shareholders of 20 liquidated banks.
Bank Sort Codes In Nigeria – How To Find Them
In Nigeria, bank sort codes play a crucial role in facilitating seamless and accurate financial transactions. They serve as unique identification numbers assigned to each bank branch, ensuring that transfers and transactions are correctly routed. In this article, we will provide a
Fintechs, Financial Inclusion And Regulatory Challenges
The meteoric expansion of Nigeria’s financial services industry and the evolving nature of modern banking in the last ten years due to the rapid advancement of technology has led to unexpected regulatory and legal challenges. The fusion of traditional banking with fintechs
Polaris Bank Seeks To Deploy Low-cost Digital Solutions
Polaris Bank has forged new partnership to deploy low-cost digital solutions on a much more secured platform, in what the bank says will make “customer acquisition and digital onboarding seamless.” A renewed partnership with Network International, an enabler of digital commerce across
Why FCMB, GTBank, Access, Stanbic IBTC CEOs Seek HoldCo Structure, To Stay More
The Nigerian banking industry is in the season of transition from a core banking operation to a Holding Company (HoldCo) structure. Out of 15 commercial banks operating in Nigeria, at least seven lenders; Sterling Bank, Access Holding, FBN Holdings, FCMB Group, Guaranty
Bank Investors Earn N248.68 billion Amid Naira Scarcity Caused By CBN’s Policy
The Nigerian banking sector exited the Naira scarcity period unblemished judging by the value of equity investment netted by their shareholders in the first quarter (Q1) of 2023. Prime Business Africa’s analysis of the stock market in the first three months of
How Ghana’s Financial Crisis Affects Zenith Bank, UBA, Lose N76.04bn
Nigerian commercial banks suffered significant losses in Ghana in 2022, over the government’s inability to meet its debt obligations. Prime Business Africa gathered that Zenith Bank and UBA lost N76.04 billion in their investment locked in securities issued by the Ghanaian government.
Top 5 Revenue-generating Nigerian Banks – Access, Zenith, UBA, FBN’s Market Share
The top five revenue-generating banks in the financial industry reported a combined N2.23 trillion turnover within the first nine months of 2022. According to the 2022 Nine-Month period financial statements of the firms analysed by Prime Business Africa, it was gathered that
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