N50 billion.

68-Year-Old Trader Dies After Losing N50 Million In Lagos Market Demolition

May 30, 2024. by Praise Ben

A 68-year-old woman, Alhaja Iyabo, died after losing over N50 million in cash in the Lagos Market demolition. The state’s task force issued a removal notice on May 15, directing squatters and occupants of illegal structures to vacate immediately. Market leaders estimate trader losses could reach N50 billion, including destroyed bags of rice, beans, and … Read more

CBN Tightens Financial Grip, Banks Brace For Capital Boost

Mar 28, 2024. by Ekohot Editor

CBN introduces new capital requirements for Nigerian banks to bolster sector resilience. Commercial banks with international authorization must now have N500 billion capital. Non-interest banks need to meet capital thresholds of N20 billion (national) and N10 billion (regional). Eko Hot Blog reports that in a move aimed at fortifying the Nigerian banking sector, the Central … Read more