Browsing: Banks

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%.

Central Bank of Nigeria lifts suspension on cheque clearing The Central Bank of Nigeria said it has lifted temporary suspension…

Banks to take sharp earnings haircuts as economy battles virus. Not as a result of lack of competitive strengths but banks are expected to take sizeable haircuts in earnings performance in 2020 earlier guided.

Banking sector non-performing loans drop by 41% in 2019. The banking sector assets quality improved significantly in 2019 as non-performing loans (NPL) ratio nosedived by 41%.

COVID-19: Banks stop clearing cheques on CBN directive

CBN, Banks, NIBBS others open for business during COVID-19 Lockdown. The Central Bank of Nigeria (CBN) says the apex bank and other financial institutions will open for business in spite the two weeks lockdown declared by President Muhammadu Buhari in Abuja, Lagos and Ogun states.

CBN plays soft on devaluation, says it is adjustment of price. The Central Bank of Nigeria has clarified that it did not devalued the local currency, Naira.

MPC raises Cash Reserve Ratio by 500 basis points. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the Cash Reserve Ratio by 500 basis points to 27.5%.

Fitch downgrade SSA Banks outlook, cites rising regulatory risk in Nigeria

The Central Bank of Nigeria https://www.cbn.gov.ng/ has directed deposit money banks (DMBs) to reduce automatic teller machine (ATM) charges to N35 from N65 effectively from January, 2020.