Browsing: Banks

FIRS Clarifies Stamp Duty Rates, Order Charges on ₦10,000 ‘Credit Alerts’. The Federal Inland Revenue Service (FIRS) has explained stamp duty rates applicable to various transactions, says that there is charges on every ₦10,000 credit received into banks customers accounts. 

Fidelity Bank appoints Nneka Onyeali-Ikpe MD-designate Fidelity Bank Plc has notified the Nigerian Stock Exchange (NSE) and the general public…

Banks Debtors in Trouble as CBN Activates Inter-bank Debits. Guidelines will improve repayments, reduce NPL ratios, serve as credit profiling tool and improve private sector credit

Money Market Funding Pressure Eased on OMO Repayment. At the money market, funding pressures eased slightly today, as open market operations (OMO) repayments of ₦92.5 billion hit the system.

‘Economic, Regulatory Pressures to Suppress Banks Q2 Earnings by 8%’. Amidst concern for economic recession which has generally clouded earnings outlook for 2020, analysts have estimated 8% cuts in banks second quarter earnings.

Net FX Position, Hedge Contracts to Help Banks Survive Pressure. The Nigerian banks abilities to survive regulatory and ‘virus’ triggered economic challenges would depend on their structure, net dollar position…

Analysts say FX Liquidity Pressure Looms Large in Banks. Analysts

CBN Rationalises Policies to Prevent Imminent Recession. The Central Bank of Nigeria has come out to defend its unorthodox policies, said it will not be deterred in its efforts to steer the economy away from looming recession.

CBN adjusts timelines for reversals of complaints on electronic channels. The Central Bank of Nigeria (CBN) has adjusted timelines for reversals or resolution of refund complaints on electronic channels with effect from June 8.

Monetary Policy Committee cuts benchmark interest rate to 12.5%. Against investment banking analysts’ expectations, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), on Thursday cut the policy rate from 13.5% to 12.5%.