Due to the scarcity of naira, banks lose N5 billion in facilities destruction

According to the findings of the Association of Senior Staff of Banks, Insurance, and Financial Institutions, banks have suffered losses totaling N5 billion across the country as a result of recent attacks and the destruction of bank facilities. At a news conference in Lagos on Thursday, Oluwole Olusoji, President of ASSBIFI, made the announcement. He … Read more

Panic as banks reject old notes and ignore the Supreme Court

Despite an order from the Supreme Court extending the deadline until tomorrow, February 15, when action would most likely be taken, Deposit Money Banks (DMBs) across the country began rejecting the old naira notes yesterday. Dailytrust’s research indicates that commercial banks were rejecting customers who came into their branches to deposit old notes collected over … Read more