banks

Why Nigeria’s Top Banks Are Raising Capital Early: Meristem Explains Nigeria’s tier-1 banks are moving swiftly to raise capital ahead of the recapitalization deadline, and Meristem Securities has shed light on why they are acting early. At the Meristem 2025 Annual Outlook Conference in Lagos...

2025: A Transformative Year for Nigerian Banking – Recapitalisation, Mergers & Resilience The Nigerian banking sector is on the brink of significant transformation as the Central Bank of Nigeria (CBN) mandates new capital requirements for banks. With a March 2026 deadline, 2025 is shaping up...

Smaller Banks Face Daunting Recapitalization Challenges Amid New CBN Mandates Detailed Breakdown: Key Points from Analysts: • Pressure on Smaller Banks: Afrinvest Securities Limited has warned that smaller financial institutions could face significant hurdles in 2025 as they attempt to...

Eight Nigerian Banks See Market Value Surge to ₦7.2 Trillion As of December 24, 2024, the total market capitalization of eight major Nigerian banks rose to ₦7.20 trillion, reflecting a ₦109.10 billion gain from the previous day’s ₦7.09 trillion, according to The PUNCH. Market Highlights: 1...

Nigerian Banks’ Operating Costs Soar to ₦5.18 Trillion Amid Economic Pressures Highlights from the Report: In the face of challenging macroeconomic conditions both locally and globally, 12 Nigerian banks listed on the Nigerian Exchange Limited (NGX) recorded a staggering ₦5.18 trillion in...

Shareholders Voice Concerns Over Share Reconstruction in Banking Recapitalization The Independent Shareholders Association of Nigeria (ISAN), led by its president, Moses Igbrude, has raised concerns regarding the potential implications of share reconstruction following the banking sector...

ASSIBIFI Advocates Worker Protection Amid Banking Sector Recapitalisation The ongoing recapitalisation in Nigeria’s banking sector is reshaping the industry, and the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSIBIFI) is stepping up efforts to safeguard the...

Several Nigerian Banks Face Delays in Meeting Recapitalization Deadline Detailed Breakdown: As the June 2026 deadline set by the Central Bank of Nigeria (CBN) for recapitalization approaches, some Nigerian commercial banks are experiencing delays in raising the required capital. While...

Investor Verification Delays Bank Recapitalisation Share Allotments The recapitalisation efforts of several Nigerian banks are facing delays as the Central Bank of Nigeria’s (CBN) investor verification process stalls the allotment of shares. Following the CBN’s announcement of new capital...

CBN AND SEC IMPOSE N1.5BN FINES ON 10 NIGERIAN BANKS FOR FOREX VIOLATIONS In the first half of 2024, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) sanctioned 10 major banks for violations related to foreign exchange guidelines and other regulatory...

SEVEN NIGERIAN BANKS PAY N392.53BN IN TAXES AMID SOARING PROFITS Detailed Breakdown: Seven Nigerian banks have collectively paid N392.53 billion in taxes during the first half of 2024, reflecting a significant rise in their tax obligations. These figures come from their second-quarter...

NIGERIAN BANKS MAINTAIN STRONG POSITION DESPITE CURRENCY CRISIS: ANALYZING THE 2024 AFRICAN BANK RANKINGS Despite Nigeria's ongoing currency devaluation and economic difficulties, the country’s banks have demonstrated resilience, achieving high rankings in two key assessments of African...

CBN WITHDRAWS N1.3 TRILLION FROM BANKING SYSTEM IN SEPTEMBER TO TIGHTEN LIQUIDITY The Central Bank of Nigeria (CBN) withdrew N1.3 trillion from the banking system in September 2024 through Nigerian Treasury Bills (NTB) and Open Market Operations (OMO) auctions, according to a report by...

NDIC STRENGTHENS JUDICIARY PARTNERSHIP TO EXPEDITE RECOVERY FOR DEPOSITORS OF FAILED BANKS Key Details: The Nigerian Deposit Insurance Corporation (NDIC) is enhancing its collaboration with the judiciary to speed up legal actions against failed financial institutions. NDIC Managing Director...

SIX NIGERIAN BANKS FACE NEARLY N2 TRILLION IN LEGAL CLAIMS Detailed Breakdown: As of June 2024, six major Nigerian banks are collectively facing litigation claims amounting to N1.91 trillion. These claims include various lawsuits related to business operations, though the banks maintain that...

SEC GUIDELINES ENHANCED TRANSPARENCY IN BANK'S RECAPITALIZATION PROCESS The Securities and Exchange Commission (SEC) has highlighted that its guidelines played a pivotal role in ensuring the transparency of Nigeria’s recent banking recapitalisation exercise. Dr. Emomotimi Agama, the...

BANKING LIQUIDITY SURGES TO OVER N1 TRILLION AMID MARKET OPTIMISM Liquidity in Nigeria’s banking sector has seen a sharp increase, rising by 62.4% to reach N1.2 trillion, according to a report by Afrinvest. This surge is attributed to significant inflows from the Central Bank of Nigeria’s...

SEVEN NIGERIAN BANKS RECORD N132.45 BILLION IN E-BUSINESS REVENUE FOR H1 2024 Detailed Breakdown: Seven prominent Nigerian banks collectively generated N132.45 billion from their e-business operations in the first half of 2024, showcasing a significant surge in digital banking adoption across...

NIGERIAN BANKS BORROWED N3 TRILLION FROM CBN 1. Banks Borrow N3 Trillion: Nigerian banks and discount houses borrowed a significant amount of N3 trillion from the CBN using the Standing Lending Facility (SLF) within a single week. The SLF is a tool used by the CBN to provide short-term...

NIGERIAN BANKS EXTEND N75.48TN CREDIT TO PRIVATE SECTOR AMID ECONOMIC GROWTH PROSPECTS The Central Bank of Nigeria (CBN) reported that as of July 2024, banks' credit to the private sector surged to ₦75.48 trillion, marking a 34% increase from the ₦56.46 trillion recorded in July 2023. This...