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Recession: 13 banks record N241.8bn bad loans–Investigation

…Loans repayment default affecting lender-banks …Fitch affirms Nigeria’s sovereign ratings at B+; negative outlook Nigeria’s current economic hardships, especially induced by the recession, is believed to be responsible for the rising bad loans in 13 commercial banks. Consequently, unpaid debts by the banks’ customers accounted for the N230.6billion Non-
Business Money

Ecobank explains innovative e-payment channels

The Deputy Managing Director, Ecobank Nigeria, Tony Okpanachi, has said the introduction of various innovative electronic payment platforms by the bank was in line with its deliberate policy to provide seamless and innovative services to customers and banking public. According to him, the e–payment system will further engender the financial inclusion strategy of the