Recapitalisation: Microfinance banks’ assets rise to N1.01tn
The total assets of the microfinance banks rose by N251.02bn from N758.98bn as of the end of July 2020 to N1.01tn as of the end
Category : Banking
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About Banking News Today
The banking industry involves borrowing and lending money. Banks take customer deposits in return for paying customers an annual interest payment.
It is majorly used to keep money safe for customers, offer customers interest on deposits, protect against money losing value against inflation, lend money to firms, customers and homebuyers, and offer financial advice and related financial services, such as insurance
This is the major reason why we keep everyone updated on the recent happenings in the financial industry.
BoI disburses N969.6bn in 5 years
The Bank of Industry (BoI) has disbursed loans worth N969.7 billion to borrowers in five years to support various businesses. BoI Deputy Head, Business Development,
Naira appreciates N490/$1 at parallel market
As at noon yesterday, Naira appreciated by N8 to N490/$1 at the parallel market as against its closing rate of N498/$1 on Friday. At the
Naira tumbles by 51.95% despite CBN’s defence measures
The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline
Crypto company hit 8 million users
Luno, a cryptocurrency company, has hit eight million customers (wallets). This is coming immediately after the company announced in April that it had reached seven
Monetary Policy as Tool for Economic Recovery
James Emejo assesses the effectiveness of monetary policy measures in enhancing output growth and recovery of the Nigerian economy amidst the adverse impact of the
Two nabbed for allegedly spending fake naira in Kwara
Men of the Nigeria Security and Civil Defence Corps have arrested two suspects for allegedly spending fake naira in a rural market in the Patigi
Banks consume more energy than Bitcoin – Report
A report by Galaxy ‘On Bitcoin’s energy consumption’ has revealed that traditional banks use more energy than Bitcoin. Last week, the crypto market tanked after
Banks place limits on domiciliary accounts transfers
Banks have begun to place new limits on transfers domiciliary accounts holders can make from cash their cash lodgements. The limits range from $5,000 to
Bank deposits rose by N6.95tn in one year – CBN
Bank deposits rose by N6.95tn between February 2019 and February 2020, the Central Bank of Nigeria said. The CBN disclosed this in its report on
