Deposit Money Banks

Five Deposit Money Banks (DMBs) benefitted from the hike of the Monetary Policy Rate (MPR) to 26.25 per cent, generating N2.75 trillion in income from loans and advances and investment securities by the half-year of 2024 This is about a…

The Central Bank of Nigeria (CBN) on Wednesday warned Deposit Money Banks (DMBs) for rejecting over circulated /mutilated banknotes in circulation. The Acting Director, Currency Operations Department, CBN, Solaja Mohammed in signed…

The Central Bank of Nigeria (CBN) has updated its Cash Reserve Requirement (CRR) mechanism making Deposit Money Banks (DMBs) with minimum Loans to Deposit Ratio (LDR) below requirement as facing a 50 per cent lending shortfall. The CBN…

Following the criticisms that have trailed the recent pronouncement on cryptocurrencies, the Senate Committees on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market has invited the Central Bank of…

On Friday, 5th February 2021, the CBN pronounced the ban on cryptocurrency operation in any form in Nigeria’s financial system as illegal and banned it. It could be recalled that the CBN had on two occasions in 2017 and 2018 warned that…

The impact of the pandemic that disrupted the global economy was felt on the total remittances from Diaspora which the Central Bank of Nigeria (CBN) says crashed by 71.2 per cent to $5.5billion in 2020. Europe and America where the…

The Central Bank of Nigeria (CBN) is targeting about $2 billion monthly from diaspora remittances coming after the introduction of the new diaspora forex remittances policy. CBN Governor, Godwin Emefiele, disclosed this at a…

OMOTAYO ARAOYE Following the ease of lockdown measures against Covid-19 in Lagos, Ogun, and the Federal Capital Territory (FCT), the Central Bank of Nigeria (CBN), Tuesday, lifted the suspension on cheque clearing by the…

AMINA HUSSAINI, Abuja The Central Bank of Nigeria, CBN says it has not prohibited the acceptance of foreign currency deposits into accounts at Deposit Money Banks (DMBs). The CBN Director, Corporate Communications, Issac Okorafor made…

UMORU ABDULKADIR Stanbic IBTC Holdings Plc has announced a 5.15 per cent increase in its gross earnings for the year ended, December 31, 2019, rising to N233.808 billion from N222.360 billion of 2018. It also reported a marginal 0.80…