CBN targets ₦600bn in treasury bills auction today
The Central Bank of Nigeria is targeting to raise N600 billion through a Nigerian Treasury Bills auction scheduled for today, Wednesday, July…
Banking
All the news and updates from the banking sector; Access Bank, GTBank, First Bank, First City Monument Bank, United Bank of Africa etcs
Banks cut lending to oil, gas, ICT by ₦5.45trn
Deposit Money Banks slashed lending to oil and gas, information and communication technology and six other key sectors of the economy by…
Elumelu to retire as UBA Group chairman after 12-year board tenure
United Bank for Africa Plc has announced that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on…
FCMB shareholders approve ₦23.08bn dividend for 2025
FCMB Group Plc shareholders have approved a total dividend payout of N23.08 billion for the 2025 financial year. Vanguard reported that the…
ICYMI: Providus, Unity banks begin operations after merger
Providus Bank and Unity Bank are set to commence operations as a single unified institution following the successful completion of their business…
Providus, Unity Bank complete merger, launch unified banking operations
Providus Bank and Unity Bank are set to begin operations as a single unified institution following the successful completion of their business…
Bank of Agriculture unveils roadmap to boost food security
The Bank of Agriculture has unveiled a strategic roadmap to modernise its operations, deepen grassroots financial inclusion, and accelerate agricultural transformation in…
Wema Bank secures ₦78.5bn EIB facility for SME empowerment
Wema Bank has secured a Euro 50 million (N78.5 billion) financing facility from the European Investment Bank’s development arm, EIB Global, to…
Banks lose ₦134.48bn to fraud within five years — Report
Banks and their customers lost a combined N134.48bn to fraud between 2020 and 2025 amid a significant expansion in digital payments and…
ATM, e-banking charges push banks’ earnings to N224.69bn
Nigerian banks earned N224.69bn from electronic banking services and ATM/card-related charges in the first quarter of 2026, marking a 12.56 per cent…
FCMB profit jumps 80% to ₦202bn in 2025
FCMB Group Plc reported a profit before tax of N202.100 billion for the year ended 31 December 2025, according to its audited…
Sovereign Trust remits ₦1.5bn capital deposit to CBN
Sovereign Trust Insurance Plc has announced the successful remittance of a N1.5 billion statutory capital deposit to the Central Bank of Nigeria…