• CBN Suspends Interchange Charges On Electronic Payment

    | Leave a comment

    The Central Bank of Nigeria (CBN) has suspended the implementation of inter change regime on electronic payment that involves merchant service until further notice. Director, banking and payments system department, CBN Mr Dipo Fatokun, in a signed circular to merchant acquirers, card issuers, card schemes, among other stakeholders explained that the apex banking regulating had…

    Continue Reading ...
  • 5 CBN’s Important Banks Dominate 69.8% Industry Total Assets

    | Leave a comment

    Five out of eight of the Central Bank of Nigeria (CBN’s) Systemically Important Banks (SIBs) that include Ecobank Transnational Incorporated, parent company of Ecobank Nigeria, Guaranty Trust Bank Plc, Access Bank Plc and two other financial institutions dominated 69.8 per cent industry total assets in 2016. The other two financial institutions are United Bank for…

    Continue Reading ...
  • External Reserves Hit 2017 High At $30.56bn

    | Leave a comment

    …As Naira closes at 400/$1 External reserves climbed to $30.56 billion as of April 18, the highest level in 2017, as the Central Bank of Nigeria (CBN) tries to rebuild currency buffers hammered by dwindling global oil prices. The rise coincides with a recent rise in the price of crude, which account for the bulk…

    Continue Reading ...
  • Electronic Transactions Hit N40.5trn In 2016 – CBN

    | Leave a comment

    The Central Bank of Nigeria (CBN) has disclosed that value of electronic transactions in the banking sector crossed the N40 trillion threshold to N40.5 trillion in 2016 to reflect the growing public confidence in the system as a result of the convenience of electronic transactions and sensitization. The Financial System Stability Report (FSSR) by CBN…

    Continue Reading ...
  • Inflation Rate Declines To 17.26 % In March – NBS

    | Leave a comment

    The National Bureau of Statistics (NBS) yesterday said the inflation rate dropped by 0.52 per cent in March to close at 17.26 per cent, the second decline recorded in two months. NBS had announced the first decline in in February when inflation dropped by 0.94 per cent to close at 17.78 per cent. According to…

    Continue Reading ...
  • External Reserves Rise By $95.9m In 7 Days

    | Leave a comment

    The Nation’s external reserves appreciated by $95.9 million in seven days amid increase in global oil price that has climb above $56 per barrel as at yesterday as well as the inflows from the International Money Transfer Operations (IMTOs). Data collected from CBN website revealed that the nation’s external reserves stood at $30.39 billion at…

    Continue Reading ...
  • Zenith, UBA, 4 Others Make N241bn In TBills Investment

    | Leave a comment

    Six money lending banks have raked in N241 billion interest from their investments in Treasury Bills in 2016, LEADERSHIP learnt yesterday. They are Zenith Bank, United Bank for Africa, Access Bank, Stanbic/IBTC Holdings Plc, Guaranty Trust Bank and Wema Bank. This followed federal government’s increased issuance of Securities, including Bonds and Treasury-Bills (T-Bills) in 2016….

    Continue Reading ...
  • AMCON May Revisit Root Causes Of Bad Loans – CEO

    | Leave a comment

    The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru has said for the corporation to survive and meet its obligations, the root causes of some of the toxic loans in the real sector of the economy needed to be revisited. Kuru, while welcoming the House Committee on Banking and…

    Continue Reading ...

Daily Columns