Tag: Banks
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Banks’ credit to economy dipped by N136bn in Q1 – NBS
The total credit from banks to the economy recorded a decline of N135.8bn from N15.74tn at the end of the fourth quarter of last year to N15.6tn in the first three months of 2018. This is contained in the banking sector report released by the National Bureau of Statistics on Monday. The NBS stated that…
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Banks ripping us through ATMs, customers cry out
Commercial Bank customers within the Federal Capital Territory (FCT) have decried excess charges by banks through Automated Teller Machine (ATM) withdrawals. Some customers who spoke to a News Agency of Nigeria (NAN) correspondent, said they dreaded making withdrawals using other banks ATMs because of the continued charge of N65 for every transaction. According to the…
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Delayed accounts: CBN threatens to sack CEOs, chairmen of defaulting banks
The Central Bank of Nigeria (CBN) has directed that henceforth the CEOs and chairmen of any bank which fails to publish its annual account 12 months after the financial year end will be removed from office. This directive is contained in the CBN’s Monetary, Credit, Foreign Trade and Exchange Guidelines for Fiscal Years 2018/2019 released…
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![Horror: Six policemen, several others killed as robbers invade banks in Offa [video]](https://thenewsguru.ng/wp-content/uploads/2018/04/Robbery.jpg)
Horror: Six policemen, several others killed as robbers invade banks in Offa [video]
There was pandemonium on Thursday in Offa, a local community in Offa Local Government Area of Kwara State as dare devil robbers invade killed six policemen and six others including residents during a raid of some commercial banks in the area. https://www.youtube.com/watch?v=vvd_5DEphx0 Sources said the men, who numbered close to 30, blew up entrances into…
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CBN lends banks N27.6tr in six months – Report
Commercial Banks borrowed N27.46 trillion from the Central Bank of Nigeria (CBN) in six months, data from the apex bank’s half year report on financial sector performances released on Tuesday shows. The 2017 half-year Financial Markets Activity Report, said loans came in the form of Standing Lending Facility (SLF), including the Intra-day Lending Facilities (ILF).…
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Stakeholders appeal to new owner of 9mobile to resolve $1.2b loan owed banks
Some capital market stakeholders on Monday appealed to Teleology, the new owner of 9mobile, to resolve amicably the 1.2 billion dollars syndicated loan owed some Nigerian banks. The stakeholders made the appeal in separate interviews with the News Agency of Nigeria in Lagos, while reacting to the emergence of Teleology as the new owner of…
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Unauthorized deductions: Settle customers’ complaints within two weeks – CBN directs banks
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to settle customers’ complaints on issues of overcharge, unauthorised deductions and other matters within two weeks. The CBN Head of Complaints Management Division, Mr. Tajudeen Ahmed, said this in an interview with newsmen in Abuja on Thursday. He said the CBN would…
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Non-performing loans: CBN bars banks, discount houses from paying dividends to shareholders
In a smart move to stop Deposit Money Banks and Discount Houses with huge bad loans and low capital base from total collapse, the Central Bank of Nigeria (CBN) has stopped such banks from paying dividends to shareholders. This is due to the rising non-performing loans and the need to stop further erosion of the…
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Senate summons Emefiele, banks, others over illegal deductions
The Senate on Tuesday summoned the governor of Central Bank of Nigeria, CBN, Godwin Emefiele, forensic auditors, Managing Directors of banks and Bankers Committee over the recurring issue of illegal deductions and bank charges on both individual and corporate accounts. It also mandated the Committee on Banking, Insurance and other Financial Institutions, led by Senator…
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Tax evasion: EFCC recovers N27.7b from six banks
The Economic and Financial Crimes Commission (EFCC) has recovered over N27.7billion from six banks being unremitted withholding tax on dividends. Also, about seven more banks were said to be on the radar of the anti-graft agency for similar infractions. According to a fact-sheet obtained by The Nation, the EFCC is expecting recovery of more withholding…