Tag Archives: Banks

The Nigerian economy has started recovering from the three-month-long naira scarcity, but there is another brewing risk of a possible banking sector collapse as customers shun cash deposits. The development is a spill-over effect of the Central Bank of Nigeria’s poorly implemented Cashless Policy, which caused Nigerians untold nightmares and …

Days after the Central Bank of Nigeria said it has released old notes to Deposit Money Banks, scarcity of naira notes still bites harder in Imo State. Some of the residents told Newsextra24 that they were still unable to access either the old or the new notes from banks. At …

The crowd around banks in Port Harcourt, the Rivers State capital, have relatively reduced. Newsextra24 observed this after a visit to some banks in the Rumuokoro, Trans-Amadi and Aba Road axis of the Port Harcourt metropolis. Some bank customers expressed delight that the stress of having access to bank premises …

Residents of Osogbo, the Osun State capital, have continued to experience scarcity of Naira notes even as the February 25 presidential and National Assembly elections have been concluded. Majority of the banks operating in Osogbo only opened for business to attend to customers with different issues inside the bank while …

Following the earlier warning by the Kaduna State Government that it has received credible reports of some misguided individuals trying to cause confusion in the state, security operatives have been deployed to the Central Bank of Nigeria, commercial banks and strategic places in the state. Although it was not confirmed …

The Delta State Police Command has taken into custody persons described as “unguided youths/miscreants” following the unrest over naira scarcity. Scores of youths on Wednesday, in opposition to the non-availability of new naira notes, burned banks and vehicles. Some others were partly damaged. “We have arrested nine suspects so far. Some persons …

Commercial banks in Ilorin, the Kwara State capital, are rejecting old naira notes from customers despite an order of the Supreme Court. Recall that the Supreme Court temporarily restrained the CBN from withdrawing and making the old currency notes of 200,500 and 1000 naira denominations obsolete till Wednesday, February 15, …

The Central Bank of Nigeria (CBN) on Friday said banks would be working on Saturdays to receive the old Naira notes from customers. Mr Kama Ukpai, leader of the CBN team to Ebonyi on new Naira notes, disclosed this during its enlightenment campaign on traders at the Eke Market, Afikpo. …

•Recoveries fall 18% to N28.7bn •Debtors battling economic shocks —Analysts THE volume of bad debt recovered by banks fell by 18 per cent, year-on-year, YoY, to N28.68 billion in nine months ended September 30th, reflecting the severe impact of the hostile environment on businesses across the country. Also as a …

Since the beginning of 2022, the Nigerian Banking (commercial and digital) and Insurance industries have experienced an increase in media interactions, campaigns, and awareness. These were boosted even further by the fantastic numbers it reported to the media in the third quarter of the year. The publication analysis includes over …