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INFORMATION BANKERS AND ASPIRANT SHOULD NOTE

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Nigerian Banks’ Q1 20 profit increases slightly amid regulatory headwinds by samson james  On  Jun 11, 2020   Share Twelve Nigerian banks grew profit 3 percent in the first three months of the year at N262.1billion from N253.87billion amid regulatory headwinds that have continued to squeeze lenders’ deposits with the Central Bank of Nigeria (CBN) and the  impact of COVID-19  in the latter part of the period. Nigeria’s biggest bank by asset, Zenith Bank’s net profit increased slightly to N50.5billion in the first quarter as against N50.23 billion recorded in the same period in 2019. Nigeria’s most capitalised bank, Guaranty Trust Bank’s profit after tax stood at N50.1billion as against in N49.3 billion recorded Q1 2019; Access Bank, Nigeria’s biggest bank by customer base recorded N40.9billion in the first period as against N41.14billion in Q1 2019; United Bank for Africa made a total of N30.1billion compared to N28.66 made in Q1 2019 while First Bank, Niger...
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today's exchange rate

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NGN USD BUY / SELL GBP BUY / SELL EUR BUY / SELL 18/05/2020 440 / 455* 525 / 535* 450 / 465* 15/05/2020 440 / 455 525 / 535 450 / 465 14/05/2020 435 / 450 530 / 540 450 / 460 13/05/2020 430 / 450 525 / 535 440 / 455    get more of such @ tobisam.blogspot.com
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Coronavirus in Nigeria catalyst to changes in financial sector

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IN DEPTH This article is part of the dossier: Corona Chronicles: 6 April – 10 April By  Oluwatosin Adeshokan, in Lagos Posted on Monday, 6 April 2020 09:47 People queue at an ATM, as authorities try to limit the spread of the coronavirus disease (COVID-19) in Abuja, Nigeria 30 March 2020. REUTERS/Afolabi Sotunde Nigeria's Lagos, Abuja and Kaduna have announced lockdowns and other restrictions to movement. In these cities, retail banking operations are expected to grind to a halt. Around the country, banks are announcing that branches outside of locations already on lockdown will be running skeletal operations. In the case of Standard Chartered Bank and a few other banks, they will be closing by 3pm daily. While Nigeria has one of Africa’s largest economies, large portions of the economy are in the informal sector and depend on cash. Although the central bank has touted a ‘cashless’ policy for years, several new policies have made that policy muddled. But, in countries like Kenya wh...
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