The Chartered Institute of Bankers of Nigeria (CIBN) has expressed concerns about the negative effects of certain government policies, including the removal of the fuel subsidy and the floating of the Naira, on both the banking sector and the Nigerian economy as a whole. EKO HOT BLOG reports that this statement was made during the … Read more
Fidelity Bank Plc. dismisses rumors of its license revocation by the CBN, assuring strong financial stability and announcing a N127.1 billion capital raise through a public offer and rights issue. EKO HOT BLOG reports that Fidelity Bank Plc. has dismissed rumours circulating about a potential revocation of its operating licence by the Central Bank of Nigeria … Read more
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
The National Bureau of Statistics (NBS) has disclosed that in the third quarter of 2019, the Nigeria banking sector pulled a total volume of 800,201,498 transactions valued at N42.76 trillion. These transactions were carried out in the period under review via the different electronic payment channels in the sector. It was further stated that NIBSS … Read more