Nigerian Banks – InfoStride News

Nigeria’s Financial Evolution: Banks and FinTechs Unite for Innovative Stablecoin Creation

Temitope Nlewemchi — Mon, 25 Dec 2023 22:32:56 +0000

Nigerian financial institutions are embarking on a groundbreaking initiative, collaborating closely to pioneer the development and management of a cutting-edge stablecoin known as cNGN. This innovative digital currency is poised to revolutionize the landscape by offering unprecedented benefits to both token holders and the broader Nigerian economy. This exclusive revelation comes from sources deeply entrenched [...]

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Nigerian Banks Hit Jackpot: Loan Book Surges by N8.5 Trillion in Nine-Month Bonanza

Temitope Nlewemchi — Tue, 14 Nov 2023 18:42:14 +0000

Major Nigerian banks listed on the Nigerian Stock Exchange have reported a substantial increase in interest income during the first nine months of 2023, marked by a notable surge in their aggregate loan books, as revealed in data compiled by Infostride News from the unaudited financial statements of these financial institutions. Specifically, the ten commercial [...]

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Banks’ borrowing from Central Bank of Nigeria increased to N737.05 billion in May 2022

Temitope Nlewemchi — Mon, 12 Sep 2022 13:20:59 +0000

Nigerian banks‘ borrowings from the Central Bank of Nigeria’s Standing Lending Facility (SLF) increased to N737.05 billion in May 2022, indicative of an N124.62 billion uptick. This is according to the CBN’s latest monthly economic report . The  CBN Standing Lending Facility (SLF) activities increased by 20.4% to N737.05 billion in May 2022 compared  to N612.43 [...]

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FX Liquidity: Nigerian Banks Struggling To Meet Forex Obligations As CBN Refuses To Devalue The Naira

Wale Adebayo — Tue, 22 Dec 2015 09:18:03 +0000

According to Renaissance Capital in a report entitled: “Nigerian banks struggling for FX liquidity”, Nigerian banks are struggling to meet the $5billion foreign exchange obligations to importers and correspondent banks, The report stated that due to the inability to access foreign exchange from the Central Bank of Nigeria (CBN), banks are having challenges sourcing dollars [...]

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#Nigeria > Nigerian Banks To Lose 20,000 Accounts, 2.6 Trillion Naira This Week Over Treasury Single Account

Wale Adebayo — Sun, 13 Sep 2015 15:30:07 +0000

Nigerian banks will lose not less than 20,000 huge accounts this week. No thanks to President Muhammadu Buhari (PMB) who has directed a Treasury Single Account (TSA) be enforced this week. The bank accounts are those run by federal ministries and 600 government federal agencies. According to findings by the Sunday Vanguard, the agencies’ accounts [...]

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