Government securities benefitted from surplus funds in the banks vaults, recording N539.86 billion patronage last week, reflecting excess liquidity in the interbank money market.

As the cashless economy initiative of the Central Bank of Nigeria (CBN) goes full throttle from today, the Independent Automated Teller Machine (ATM) Deployers (IADs) licensed by the apex bank have criticised the policy reversal of the Bank’s directive on the deployment of offsite ATMs, saying that CBN was insensitive especially in the light of huge investments already made.

The year 2011, will remain one to remember for investors in the Nigerian capital market. The year was marred with a number of unpleasant situations, ranging from the continuous decline in investment, companies opting out of the stock exchange, nationalization of three banks with investors losing their investments…

Despite the shaky start of 2011 due to the tsunami that engulfed the microfinance sector in the last quarter of 2010, which led to the liquidation of 103 microfinance banks (MfBs) by the regulatory bodies, MfB operators have rated their efforts at providing access to finance and enhancing financial inclusion above average, saying…

Year 2011 was as usual a busy year for the banking industry with notable policy changes and market development. However the efforts of the Central Bank of Nigeria (CBN) to tighten money supply in order to curb inflation, and the introduction of limits on free cash transactions dominated the sector