Banks

Six banks have posted more than N2.4 trillion as Profit After Tax (PAT) for nine months ended September 30, as against the N2 trillion recorded in the same period in the 2024 financial year (FY). The figure represented a 20 per cent…
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Managing Director and Chief Executive Officer, Nigeria’s Interbank Settlement System (NIBSS), Premier Oiwoh, has announced plans to eliminate transfer fees on the NIBSS Instant Payment (NIP) platform in a bid to accelerate the country’s…
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The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says about 14 banks have met the regulatory capital requirements. Cardoso spoke on the funding progress during a news conference on Tuesday in Abuja, while announcing the…
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The Central Bank of Nigeria (CBN) has issued a directive to all commercial banks, microfinance banks, mobile money operators, and other licensed participants in the Nigerian payments ecosystem, mandating full migration to the ISO 20022…
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The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that eight banks have met recapitalisation while others are in the process of meeting the benchmark, ahead of the March 31, 2026 deadline given to banks. …
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The Nigerian Communications Commission (NCC) has directed Deposit Money Banks to start deducting charges for unstructured supplementary service data transactions directly from users’ mobile airtime. According to an email from the United…
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Banks will commence implementation of charges for alerts and other short messages (SMS) communications to their customers at the rate of N6 for every SMS transaction with effect from May 1, today. This is coming on the heels of the…
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The Federal Inland Revenue Service (FIRS) has ordered all banks in Nigeria to immediately identify and close any tax and levy collection accounts not authorised under the agency’s TaxPro Max system. This directive, announced through a…
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A Federal High Court in Lagos presided over by Justice Deinde Dipeolu has ordered 54 banks to immediately return a total of N9,329,322,870 fraudulently transferred by hackers from an unnamed old generation bank. The judgment, delivered…
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Six banks paid N751.796 billion as income tax to the Federal and State Governments and agencies for the 2024 financial year ended on December 31, 2024. The figure represents a 189.9 per cent increase from the N395.79 billion tax paid in…
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