8.4 C
New York
Tuesday, June 10, 2025

Banks loose over N87b in couple of weeks due to cash scarcity

Published:

LATEST NEWS

BY SULE TAHIR

At least ten commercial banks in Nigeria have lost N87.4 billion in market value within a week of trading activities (March 2nd, 2023 to March 10th, 2023) on the Nigerian Exchange. This is happening amidst the difficulties facing Nigerians in accessing cash, and bank branches are shutting down earlier than usual closure hours due to fear of attacks.

Reports has indicated that the affected banks include some of the largest in the country, such as First Bank, Zenith Bank, and Access Bank.

First City Monument Bank, Guaranty Trust Bank, Unity, United Bank for Africa, Sterling Bank, Stanbic bank, and Jaiz bank also suffered significant losses.

READ ALSO  Oil Community Youths Drag Owerri Capital Development Authority Boss To ICPC Over Secret Mansion

Most customer’s of commercial banks express concern and call on government to have a rethink on the matter.

“Honestly Nigerians are suffering under the pretext of naira swap as it crippled most of the socio political and economic potentials of Nigerian’s as it has an adverse effect”.

Donate to Support us
- Advertisement -spot_imgspot_img

Hey there! Exciting news - we've deactivated our website's comment provider to focus on more interactive channels! Join the conversation on our stories through Facebook, Twitter, and other social media pages, and let's chat, share, and connect in the best way possible!

Join our social media

For even more exclusive content!

TOP STORIES

- Advertisement -spot_imgspot_imgspot_img

Of The Week
CARTOON