NDIC Begins Verification of Peak Merchant Bank Depositors
The Nigeria Deposit Insurance Corporation NDIC has started the verification of insured depositors of the defunct Peak Merchant Bank. This is in line with its move to ensure deposit guaranty…
NDIC Assures Safety of Deposits amid Fears of Bank Collapse
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors that their money would be safe in the event of a bank failure. NDIC is a statutory body established by NDIC…
Why CBN Stopped use of Merchant POS Machines for Deposits, Withdrawals
The use of merchant point-of-sale (POS) terminals for deposits and withdrawals of funds by supermarkets, stores, and other small business owners has been prohibited by the Central Bank of Nigeria…
Nigerians Banks Laid off Almost 2000 Workers in 2021
Those employed in commercial banks, merchant banks, and non-interest banks made up the workforce
CBN says Banks’ Deposits Rose by 24% to N42tn
“This notable increase was achieved amidst a continued decline in non-performing loans ratio from 5.3 percent in April 2022 to 5.0 percent in June 2022.”