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Tag: Banks

Banking

EFCC warns banks against loans without credible collateral

The Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede, has cautioned Nigerian banks against granting loans without credible collateral, warning that such practices often result in insider abuse and non-performing loans. Olukoyede gave the warning recently when he received the Chief Audit Executive of First Bank Plc, Mufutau Abiola, who led a […]

Banking

CBN sets April 30 deadline for banks’ stress test reports

Nigeria’s lenders are under pressure to meet an April 30 deadline set by the Central Bank of Nigeria to submit Board-approved Risk-Based Capital stress test reports, marking a tougher phase of oversight after the industry’s recapitalisation exercise. The directive, issued March 6, 2026 requires banks to assess how their capital positions would hold up under […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
Banking

Nigerian banks raise ₦4.61trn ahead of recapitalisation deadline

Nigerian banks have raised a combined N4.61 trillion in fresh capital ahead of the March 31, 2026, banking recapitalisation deadline. This was disclosed by Olayemi Cardoso, governor of the Central Bank of Nigeria. Cardoso spoke on Tuesday at the International Monetary Fund/Africa Regional Technical Assistance Centres (IMF/AFRITAC) West 2 high-level forum in Abuja. He said […]

Finance

Banks race to meet CBN recapitalisation March 31 deadline

Banks are in a last-minute push to meet the Central Bank of Nigeria’s recapitalisation deadline. The apex bank is expected to make a major announcement this week as the March 31, 2026, cut-off approaches. Findings by The PUNCH indicate that most lenders have substantially met the new capital requirements. A few institutions are resolving final […]

Banking featured

CBN confirms 30 banks meet recapitalisation targets

Nigeria’s banking sector recapitalisation drive has gained significant traction, with 30 banks already meeting the new minimum capital requirements while three lenders are still undergoing regulatory verification, the Central Bank of Nigeria said on Friday. The apex bank disclosed that a total of 33 banks successfully raised fresh capital through various channels including rights issues, […]

Finance

Banks, telecoms, cement giants dominate trillion-naira NGX

Nigeria’s stock market has become increasingly concentrated, with 25 out of 148 listed companies on the Nigerian Exchange Limited commanding N111.11 trillion in market value. These dominant firms are primarily from the banking, telecommunications, and cement sectors. Capital distribution remains uneven. It concentrates in companies possessing pricing power, export capabilities, regulated revenue sources, or robust […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking featured

CBN fines banks ₦10m for using unaccredited cheque printers

The Central Bank of Nigeria has imposed a N10 million fine and ordered the withdrawal of cheques from circulation on commercial banks that engage unaccredited cheque printers or personalisers. The apex bank announced this in its revised sanctions regime for defaulters of the Nigeria Cheque Standard and the Nigeria Cheque Printers’ Accreditation Scheme. The CBN […]

Banking

Banks attract $16.78b capital inflows in first nine months 2025

Banks in Nigeria saw total capital inflows of $16.78 billion between January and September 2025, marking a 131.81 per cent increase from the $7.236 billion recorded in the same period in 2024, as foreign investors significantly increased their investments in FPIs. The data comes from the National Bureau of Statistics’ latest Capital Importation report for […]

CBN restricts daily limit of POS transactions to N100,000
Banking featured

Banks close 229 branches amid rapid PoS expansion

Nigeria’s banking sector recorded a significant contraction in its physical presence over the past year as Deposit Money Banks shut down 229 branches nationwide, reflecting a growing shift by customers away from banking halls towards Point of Sale transactions. This development was disclosed in the Central Bank of Nigeria’s 2024 financial sector statistical bulletin, which […]

Banking

Banks’ bad loans rise as CBN ends COVID-19 relief

Nigeria’s banking sector recorded an increase in bad loans in 2025 following the withdrawal of regulatory forbearance granted by the Central Bank of Nigeria to lenders during the COVID-19 pandemic, according to the apex bank’s latest macroeconomic outlook report. The report revealed that the industry’s Non-Performing Loans ratio rose to an estimated seven per cent, […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
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Banks alert customers to holiday fraud risks

Banks have cautioned customers to remain vigilant against fraud during the festive season. The alerts, shared through emails and social media posts, urged customers to exercise extra care throughout the Yuletide period. According to cybersecurity firm PhishMe Cofense, scam activities typically surge during holidays due to increased end-of-year transactions and engagements. Fraudsters often impersonate trusted […]

Banking

Nigerian banks not at risk of shutdown, ACAMB confirms

The Association of Corporate Communication and Marketing Professionals in Banks has reassured Nigerians that no bank in the country is at risk of closure over recapitalisation requirements, dismissing claims circulating on social media. The assurance was contained in a joint statement on Sunday by ACAMB President, Mr. Rasheed Bolarinwa, and General Secretary, Mr. Jide Sipe. […]

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