30 results
- 29 Sept 2024
Polaris Bank emerges Nigeria’s top bank in MSME lending
Nigeria’s leading digital retail commercial bank, Polaris Bank was adjudged at the weekend as Nigeria’s topmost bank in lending to the Micro, Small and Medium Enterprises (MSMEs). The award…
- 3 Oct 2024
Polaris Bank Emerges Nigeria’s Top Bank in MSME Lending
Polaris Bank, a money deposit retail bank in Nigeria, has been recognised as the country’s top bank in Micro, Small, and Medium Enterprises (MSME) lending at the inaugural MSME Finance Awards 2024.…
- 23 Oct 2014
DMO Stops Banks from Lending to State Govts
Debt Management Office (DMO) has stopped the commercial banks from lending to the state governments as well as local governments across the country. Timothy Odaah, chairman of Commissioners of…
- 1 Jun 2026
Banks Lending to FG Hit N15.66 Trillion in One Year– CBN
Banks in Nigeria increased their lending to the federal government significantly over the past year, according to data from the Central Bank of Nigeria (CBN). The figures show that credit given to…
- 19 Sept 2014
CBN Berates Banks for not Lending to Real Sector
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) over the weekend berated Deposit Money Bank for not lending to the real sector of the economy. Godwin Emefiele, governor of…
- 14 Jun 2026
CBN to Bar HoldCos from Influencing Banks’ Lending Decisions
Central Bank of Nigeria (CBN) has proposed a sweeping overhaul of the regulatory framework for Financial Holding Companies (HoldCos), including measures to strengthen the operational independence of…
- 17 Nov 2019
NECA Worries over CBN’s Directive to Banks on Lending
Nigeria Employers’ Consultative Association (NECA), has raised concerns over the Central Bank of Nigeria’s (CBN) directive to banks on lending, saying it could pose a risk to financial stability.…
- 28 Apr 2015
IFC Boosts Zenith Bank’s Lending Portfolio with $100m
IFC, a member of the World Bank Group, yesterday signed an agreement to provide a $100 million loan facility to Zenith Bank Plc, to increase its lending to a variety of important economic sectors,…
- 26 Apr 2024
CIBN says Recapitalization will Empower Banks to Lend more to Economy
Chartered Institute of Bankers of Nigeria, CIBN, has expressed support for the ongoing banking recapitalization exercise saying it will empower banks to lend more to the economy. CIBN President, Dr.…
- 27 Feb 2020
Senate Probes Differences in Banks’ Deposits, Lending Rates
The Senate has begun probe into the rationale behind the huge difference in deposit and lending interest rates among commercial banks and other financial institutions. The Senate said the…
- 8 Jul 2014
DMO Cautions Banks against Lending to Govts
Debt Management Office (DMO) has warned all banks operating in the country that further contravention on the requirement for lending to all tiers of government will be met with full sanctions.…
- 21 Mar 2022
Banks Raise Maximum Lending Rate to 30.73 Per Cent
There are indications that banks are widening their interest rate margin apparently to cushion the impact of rising inflation on their operating cost and profitability. This involves raising lending…
- 27 Dec 2021
Stanbic IBTC Bank Pledges to Improve Lending to Real Sector
Stanbic IBTC Bank Plc is set to improve on its lending to real sector of the economy, hence, grew its Loan to Deposit Ratio (LDR) by 69 per cent. With the regulatory measures to improve lending to…
- 11 Nov 2015
IDC Urges Banks on Helping Businesses Lend to Their Customers
A new IDC Financial Insights study, Perspective: Business-to-Consumer Demand Financing: Modern Technology Enables a New Lending Opportunity (Doc #FIBA56x), calls on banks to consider…
- 20 Oct 2019
CBN Fines 12 Banks N500Bn for Refusing to Lend to Customers
Central Bank of Nigeria (CBN) has fined 12 major banks N499.1billion for breaching its guidelines on lending to the real sector of the economy. According to an approved debit instruction, the…
- 24 Jun 2020
Access Bank Excites SMEs with Digital Cashflow Lending
Access Bank Plc has launched a digital lending portal, ‘Cashflow Loans’, as part of its effort to provide access to finance for SMEs to grow and expand their businesses. In a statement, “Cashflow…
- 15 Oct 2019
Access Bank Hits over N1Bn in Digital Lending Daily
Access Bank’s expanded digital lending portfolio, which gives Nigerians quick and 24/7 access to funds for emergencies without any collateral, has hit a record N1billion daily in loan value. …
- 10 Sept 2013
FG to Cut Deposits in Banks over their Refusal to Lend to Nigerians
The federal government said that it might be forced to cut her deposits with Deposit Money Banks (DMBs), otherwise commercial banks in the country over their reluctance to grant loans to…
- 25 Sept 2025
IFC Provides Local Currency Support to Access Bank to Expand SME Lending
To help address financing gaps, strengthen private sector growth, and promote inclusive economic development in Sierra Leone, IFC announced a partnership with Access Bank (Sierra Leone) Ltd (ABSL) to…
- 15 Feb 2023
Sterling Bank, Credit Café Sign MoU to Boost Lending
Sterling Bank Plc has signed a partnership agreement with Credit Café Africa for the distribution of a credit facility template, insurance, and other value-added services for existing and potential…
- 12 Mar 2019
Paylater Lending app Eyes Full-Service Digital Bank
Paylater, Nigerian retail lending startup, is working on a plan to transition to a full service digital bank after securing a $5 million debt facility from Nairobi-based Lendable, technology-enabled…
- 5 Jul 2019
CBN sets Regulation to Boost Lending
The Central Bank of Nigeria has told banks to maintain a minimum loan-to-deposit ratio of 60% by September, part of a series of regulatory measures aimed at getting credit flowing in Africa’s biggest…
- 20 Feb 2013
CBN Moves to Limit Lending to MDAs, Others
Central Bank of Nigeria (CBN) has directed banks in the country to increase the risk weight of loans to local governments, state governments and ministries, departments and agencies (MDAs) in a move…
- 29 Aug 2019
CBN Says No Credit to Firms, Individuals Without TIN, BVN
Central Bank of Nigeria (CBN) has mandated commercial banks to stop lending to firms without Tax Identification Number and individuals not having Bank Verification Number (BVN). This was…
- 31 Aug 2010
Ayodele Attributes Cost of Transactions to High Lending Rate
Mrs. Sola Ayodele, managing Director, Spring Bank Plc has attributed the high lending rate charged by banks operating in the country to the high cost of transactions. Ayodele at the recent 2010…
- 30 Mar 2017
CBN Grants National License to DBN
The Central bank of Nigeria (CBN) has granted a national license as a Wholesale Development Finance Institution to the Development Bank of Nigeria (DBN) Plc. As a wholesale bank, the DBN will lend…
- 12 Sept 2014
Nucleus Software Unfolds Portfolio for Africa Banking Industry
Indian banking and financial services software powerhouse, Nucleus Software Exports has rolled out a new credit and loan system that will enable banks in Africa to improve its lending capabilities…
- 1 Sept 2015
Nigeria Needs N9.6tr to Fund MSME – CBN
Mr Jonathan Tobin, assistant director, Development Fund Department, Central Bank of Nigeria (CBN), said N9.6 tr was needed to adequately fund Micro, Small and Medium Enterprises in the country. Tobin…
- 1 Jul 2021
UBA Leads Peers in Stimulating Economic Growth in Africa through Consumer Lending
United Bank for Africa (UBA) Plc, Pan African financial Institution, has reiterated its support for SME business and businesses through consumer lending and have innovated with niche products that…
- 3 Jul 2014
CBN Stops Loan Defaulters from Access to Credit
Central Bank of Nigeria (CBN) has banned banks and development banks from lending to loan defaulters of over N500 million, without its prior approval, according to circular signed by Mrs. …