COVID-19: FG BEGINS TRANSFER OF N20,000 TO POOR HOUSEHOLD

-

Comments

Post a Comment

Popular posts from this blog

NDIC Begins Verification Of Peak Merchant Bank Depositors April 26

-
Image
The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits. The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6. The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri. NDIC said that depositors can also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification. According to the News Agency of Nigeria (NAN), the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.he Corporation said that depositors can also send email to its designated email address claimscomplaints@ndic.gov.ng. NDIC guarantees the payment of deposits up to the maxi...
Read more

New Naira Note:CBN Records 95% Decline In Banks' Deposit

-
Image
The redesign of naira note has led to a 95.9 percent decrease in  Commercial banks’ deposits with the Central Bank of Nigeria (CBN), known as Standing Deposit Facility (SDF). According to the data obtain from the CBN’s website,banks’ deposit with their regulator (CBN) dropped to N4.69 billion as of April 4, 2023 from N112.24 billion in February 10, 2023.  According to CBN,deposit and lending are instrument of liquidity management. On October 26, 2022, the Central Bank of Nigeria (CBN) announced that the high Naira value of N200, N500 and N1,000 would be redesigned and introduced into the economy from December 15, 2022 while commercial banks were directed to return existing denominations to the CBN. The public had until the deadline of January 31 (extended to February 10 and 17) to return the old currency to commercial banks. The CBN also limited over-the-counter cash withdrawal to N100,000 and N500,000 per week for individual and corporate organisations, respectively. This was...
Read more

GTCO input decrease of N214.2 Billion In Pre-tax Profit

-
Image
  According to the new report, as of last year, there is a decrease of N214.2 billion in the pre-tax profit of Guaranty Trust Holding Company (GTCO) Plc.  Speaking on the report, there was a decrease of N35.6 billion in the Ghanian sovereign securities, and also at the end of last year, the company records show a decline in the profit before tax from N221.5billion in 2021 to N214billion which make  3.3 percent. According to the company, there is an increase of 4.6 percent in the group's netbook from N1.80 trillion to 1.89 trillion as of last year which make a growth in the investment. According to the report shown, there is also an increase in Deposit liabilities and the total group assets and shareholders' funds. There is a growth in the Capital Adequacy Ratio. According to the Chief Executive Officer Of Guarantee Trust Holding Company, Mr.Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc, Mr. Segun Agbaje, talking about the group res...
Read more