Respite as banks, others accept old N500, N1,000 notes
Emma Ujah, Abuja Bureau Chief, Gabriel Ewepu, Elizabeth Adegbesan & Providence Ayanfeoluwa The widespread rejection of the old N500, N1,000 yesterday melted as banks and Nigerians began to accept the notes in compliance with the directive of the Central Bank of Nigeria, CBN. The CBN on Tuesday night had directed banks to comply with the […]
![[Video] New naira notes: Lagos banks shut, as Nigerians besiege CBN](https://cdn.vanguardngr.com/wp-content/uploads/2023/02/cbn1.jpg?auto_optimize=low&width=350)
Banks tighten lending conditions as loan defaults worsen
By Babajide Komolafe MONEY MARKET Banks have resolved to further tighten lending conditions in the first quarter of next year (Q1’21) following continued increase in loan defaults by debtor customers. The Central Bank of Nigeria (CBN) stated this in its Credit Conditions Survey report for the fourth quarter, 2020 (Q4’20). The report, among other things, […]
Firms offer secure digital identity solutions to banks, telcos, healthcare providers
By Gabriel Olawale AVRUST Nigeria has entered into a strategic partnership with Swedish Covr Security to bring secure digital identity solutions to banks, telcos and healthcare providers in Nigeria. Speaking on the partnership, AVRUST Nigeria CEO, Engr. Felix Unachukwu said Nigeria is seriously doing catchup with the rest of the world on the digital economy, […]
Innovative banks in Nigeria, Kenya, others to be honoured at Banking Brands Awards
Innovative financial institutions across Africa will, next week Thursday, be rewarded for their leadership contributions towards the growth of the banking sector at the 2020 Africa Banking Brands Awards.
Banks divert loans to public sector
In apparent demonstration of low confidence in the economy, banks are focusing their lendings to the public sector to the detriment of the private sector.
BAD LOANS: Banks reduce consumer credits by 11%
By Babajide Komolafe Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was prompted by the impact of the COVID-19 pandemic as well as rise in bad […]
