The investment of 10 Nigerian Deposit Money Banks in software, which has accrued over the years, reached $333.3mn (N120bn) as of December 31, 2018, investigation has shown.
This investment grew by 55 percent in two years from the N77.35bn the banks collectively reported in their financial report ended December 31, 2016. The software is regarded as intangible assets and generates economic benefits for the financial institutions for more than three years before upgrade or change is required…
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News Archive from before July 2018