August 12, 2016/Punch The House of Representatives has called on the Central Bank of Nigeria to seek ways of reducing the high interest rate on loans given to customers by commercial banks and also find a solution to the high rate of non-performing loans in the banking sector. The Chairman, […]
Money Market
CBN, EFCC freeze fund managers’ bank accounts
August 10, 2016/Punch Diamond Bank Plc says the Central Bank of Nigeria and the Economic and Financial Services Commission have frozen the bank accounts of Cashflowabi Cooperative Society and Cashflowabi Networks Limited for allegedly operating as fund managers without operating licences. It said the directive to freeze their banks accounts […]
Nigeria to allow banks to write-off some bad loans this year
August 9, 2016/Reuters By Chijioke Ohuocha Nigeria’s central bank this year is to allow banks to write off bad loans for which they have already made provisions to help them to clean up their balance sheets. Pressure has been building on the country’s banks, whose loan books have been hit […]
