Commercial bank customers in the Federal Capital Territory have urged banks to pay more attention to customer satisfaction than declaring massive profits. They spoke against the backdrop of some commercial banks making an estimated profit before Tax of N3.8 trillion in the first half of 2014. According to reports, the banks, which include Zenith Bank,…
Despite the economic hardship being experienced by majority of Nigerians, banksâ vaults are bustling with customer deposits. The latest report of the Central Bank of Nigeria, CBN, on money and credit situation in the country shows that banksâ demand deposits in the first nine months of this year rose by 16.5 percent to N31.08 trillion…
A surge in fraudulent activities across banking platforms in Nigeria led to a loss of N42.6 billion by Nigerian banks in three months between April and June this year. This was revealed by the Financial Institutions Training Centre (FITC) in its Q2 2024 Fraud and Forgeries report just released. Without adding the Q1 record, the…
Financial technology companies have started charging levies on electronic transfers into personal and business accounts in compliance with the Federal Inland Revenue Service regulations. In a notice to its customers on Saturday, OPay, one of the fintechs, stated, âDear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will…
Banks and other financial institutions in the country will be closed on Thursday, August 1, 2024, as the planned hunger strike begins across the country. While none of the banks outrightly announced a closure, chats with different employees of the banks indicated that they have been advised not to report for work on Thursday as…