The Central Bank of Nigeria (CBN) has announced new penalties for banks and cheque printers that fail to follow cheque standards, declaring that offenders could face fines of up to ₦20 million. The new rules were shared in a circular sent on Thursday to deposit money banks (DMBs), cheque printers, and personalisers, according to a …
The 2025 financial year was marked by cautious lending across the banking sector, despite the Central Bank of Nigeria’s (CBN) decision to reduce the Loan-to-Deposit Ratio (LDR) requirement to 50 per cent. A Pinnacle Daily review of the financial results of major banks shows that while some lenders maintained loans slightly above the regulatory minimum, …
Nigeria’s banking system recorded a broad-based rise in loan defaults in the final quarter of 2025. This is according to the Central Bank of Nigeria's (CBN) Fourth Quarter 2025 Credit Condition Survey Report, released recently. The report indicated that default balances increased across all major lending categories, underscoring growing repayment stress among households and businesses …
The United Bank for Africa (UBA Plc) has successfully exceeded the N500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks with international licences, ahead of the March 31, 2026, deadline. According to UBA’s 2025 half-year audited results, the bank’s share capital and share premium stood at approximately N350 billion. …
Zenith Bank has reported an impairment charge of ₦781.5 billion on its financial assets for the nine-month period ending September 2025, accounting for 39.3% of its projected pre-provision operating profit for the full year 2024. A large portion of this impairment—98.5%—relates to loan impairments, including significant write-offs, which have further weighed on the bank’s loan …
Nigerians are demanding lawmakers' action to extend debate on contract staffing in banks to other sectors where the issue is also of critical concern. Their reactions followed a bill seeking to regulate the employment of staff by Nigerian banks, which has passed the second reading at the House of Representatives. They want any attempt by …
A bill aimed at regulating the employment of staff by Nigerian banks has passed second reading at the House of Representatives. The draft legislation, sponsored by Fuad Laguda, an All Progressives Congress (APC) lawmaker representing Surulere I federal constituency in Lagos, seeks to amend the Banks and Other Financial Institutions Act 2020 to “prohibit, criminalise …
The total assets of Nigeria deposit money banks (DMBs), comprising 29 commercial banks, six merchant banks, and four non-interest banks (NIBs), rose to N160 trillion ($106 billion) at the end of December 2024. The total assets of the DMBs grew by 41.31 per cent to N160.60 trillion at the end of December 2024, from …
The number of litigations claimed in monetary terms against Zenith Bank and six other lenders increased to over N4 trillion in the first half (H1) of this year, posing a significant threat to their balance sheets. The other six banks are Sterling Financial Holdings Company, Wema Bank, FCMB Group, Guarantee Trust Holding Company (GTCO), Stanbic …
The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) said it is set for its 4th National Stakeholders’ Conference to discuss the Artificial Intelligence (AI) revolution in the Nigerian banking system. It announced this in a statement to Pinnacle Daily on Monday, October 6. The conference is themed 'AI & the …
