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Tag Archives: GTB

Banking sector profit falls by 28% – Report

The Nigerian banking sector’s profit fell by 28.4 per cent in the 2015 financial year, the just released Afrinvest 2016 Banking Sector Report showed. The report, released in Lagos on Wednesday, indicated that foreign exchange volatility and lower oil price led to a major decline in the fortune of the …

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CBN orders Banks to sell 60 per cent forex to manufacturers

The Central Bank of Nigeria, CBN, yesterday, ordered Authorised Dealers (banks) to allocate 60 per cent of their total Foreign Exchange, forex purchases from all sources (interbank inclusive) to manufacturers and 40 per cent to other users for the purpose of trade and other obligations. CBN Governor, Mr Godwin Emefiele …

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NDIC decries high rate of insider abuse in banks

The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has expressed concern on the increasing wave of non-performing insider loans in banks. A statement issued by the NDIC said  Ibrahim expressed the concern while receiving a delegation from the Chartered Institute of Bankers of Nigeria (CIBN) led …

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