N2.5bn Supreme Court Judgement: Heads to Roll at Stanbic IBTC over alleged Fraudulent Sale of Customer’s Shares

By Sule Aderounmu Following the Supreme Court N2.5 billion judgement against Stanbic IBTC in favour of one of its customers, heads are set to roll at the Bank as its parent company moves to investigate allegation of fraudulent sale of the customer’s GTBank shares deposited as collateral for loan. Affirming […]

 

Banks reduce loans to manufacturers by N249bn in one year

Ikechukwu O. Ikechukwu    | Amidst rising level of Non-Performing Loans, NPLs, in the financial services sub-sector, banks are now becoming more cautious in extending facilities to manufacturers. Information from the National Bureau of Statistics revealed that the total loan stock granted manufacturers by Deposit Money Banks declined by N249 […]