Fintech: CBN to establish collateral management regime

In order to encourage more innovations in the payment system, the Central Bank of Nigeria, is putting in place a collateral management regime to regulate the activities of Fintech firms and startups in the country. Sam Okojere, the director, payments system management department, who represented the governor of the CBN, Godwin Emefiele, disclosed this in […]

NDIC generated N91bn premium from banks in 2018

The Nigerian Deposit Insurance Corporation (NDIC) generated about N91 billion premium from deposit money banks (DMBs) in the 2018 fiscal year. Umaru Ibrahim, managing director of NDIC, stated this when the management of the organisation appeared before the House Committee on Insurance for the 2019 Budget Defence at the National Assembly, Abuja. He said though […]

Union Bank cuts bad loans by 61% in 2018

Non-performing loans (NPLs) for Union Bank of Nigeria Plc, has reduced by 61 percent in the one year period between 2017 and 2018 from 21 percent to 8.1 percent, Emeka Emuwa, managing director and CEO of the bank has revealed. Emuwa made this disclosure following the release of the banking group’s audited financial statements for […]