The collapse of Silicon Valley Bank, Signature Bank and Credit Suisse provides valuable lessons for regulators/ supervisors and bank executives in Nigeria and around the world, according to the Nigeria Deposit Insurance Corporation (NDIC). Mustapha Ibrahim, executive director (operations), NDIC, said this advice at the Chartered Institute of Bankers of Nigeria (CIBN) advocacy dialogue series […]

read more Silicon Valley Bank collapse, lessons for Nigerian regulators – NDIC

Raven Bank, a fintech company has recorded about 500, 000 customers in its two years by bridging the gap between financial services and its consumers despite economic woes. It was initially established to be a one-stop shop for different bank accounts of its customers, connecting and managing these bank accounts on a single dashboard using […]

read more Raven Bank records 500,000 users in 2yrs

Commercial banks’ deposits with the Central Bank of Nigeria (CBN), known as Standing Deposit Facility (SDF), has dropped by 95.82 percent in less than two months due to the cash crunch occasioned by the naira redesign policy. Data from the CBN’s website show that banks’ deposits with the apex bank dropped to N4.69 billion as […]

read more Banks’ deposits with CBN drop 95.82% on naira redesign

The era of going to the banking hall to withdraw up to N2 million over the counter has become a thing of the past as the cashless economy has come to stay. In view of this, Nigerians have been urged to embrace electronic payment (e-payment) channels for their transactions. Such channels include eNaira, cards, mobile […]

read more Need to adopt e-payment channels as cashless policy comes to stay

The Central Bank of Nigeria (CBN) recently reviewed the tenure of executive management and non-executive directors of deposit money banks and financial holding companies. Nigeria’s apex bank pegged the cumulative tenure limit of executive directors, deputy managing directors, managing directors and non-executive directors across the banking industry at 20 years. “It is unclear what specific […]

read more Explainer: Should CBN determine bank directors’ tenure?