August 3, 2025

commercial banks

Finance General Technology

TAJ Bank Hit by Fresh ₦957 Million Glitch, Drops Legal Action Against 26 Banks and Fintech Firms

Abuja, July 25, 2025 – TAJ Bank has suffered a fresh system error resulting in the wrongful transfer of ₦957 million and has now withdrawn its earlier legal suit filed to recover the funds from 26 commercial banks and financial technology companies. The new financial glitch, which occurred amid ongoing efforts to resolve earlier reversals,

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CBN Finance General

11 Nigerian Banks Surpass 5% Bad Loan Limit After Asset Reclassification

News Report – July 23, 2025 At least eleven commercial banks in Nigeria have exceeded the regulatory threshold of five percent for non-performing loans (NPLs), following an industry-wide reclassification of risk assets in April 2025. The Central Bank of Nigeria’s (CBN) guidelines stipulate that lenders must maintain NPL ratios below 5% to ensure financial system

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