Nigerian Banking

Mandatory reserves held by five major Nigerian banks with the Central Bank of Nigeria climbed to N6.9 trillion, reflecting the impact of sustained tight monetary policy as the sector navigates recapitalization pressures and liquidity management challenges.

United Bank for Africa announces death of former chairman Chief Israel Ogbue at 99, while political realignments and appointments reshape Nigeria's governance structure ahead of upcoming elections.

Six major Nigerian deposit money banks reported combined customer loans of N33.99 trillion, marking 9.2% growth despite intensifying fintech competition, while the stock market advanced N6.79 trillion week-on-week following pension fund equity limit increases.