CBN Speaks On Current Cash Scarcity In Parts Of Nigeria
CBN has reacted to reports of cash scarcity in some locations, assuring that there is sufficient bank notes for economic activities.
Suggestions
Banks Adopt Plan To Repay MTN, Airtel, Others N120bn USSD Debt
Deposit Money Banks (DMBs) have adopted a repayment plan to resolve their faceoff with telecommunications firms over the use of the Unstructured Supplementary Service Data (USSD) service by the banks’ customers. The financial institutions are owing MTN Nigeria, Airtel, Globacom and other
Fighting Cybercrime In Banks
Rising cases of cybercrime in the banking industry is becoming a big headache to bankers, customers and law enforcement agencies in the country. With so many people highly skilled in hacking techniques desperate for quick wealth, cybercrime may soon be the biggest
Emefiele Directs Bank CEOs To Start Accepting, Disbursing Old Naira Notes
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed the Chief Executive Officers of Deposit Money Banks (DMBs) to start accepting and paying out the old Naira notes. This was revealed by the governor of Anambra state, Chukwuma
UPDATED: CBN’s Open Banking Allows Banks, Others To ‘Trade’ Customers’ Data
Deposit Money Banks (DMBs), other financial institutions and companies can now share customers’ data, in a bid to create innovative products, according to a new circular released by the Central Bank of Nigeria (CBN) on Wednesday, 8 March 2023. According to the
Nigerian Banks Address Shutting Down Operation For Presidential Election
Nigerian banks have denied reports that financial institutions plan to shut down operations due to the presidential election holding on Saturday, 25 February 2023. Messages have been circulated through WhatsApp that all banking services, including electronic payment channels, will not be available
CIBN Addresses Report Of Banks’ Collapse, NSPMC Inability To Print New Naira Notes
The President and Chairman of the Chartered Institute of Bankers of Nigeria (CIBN), Ken Opara, has allayed fears that some Nigerian banks could completely shut down following the failure of the Naira redesign policy. Prime Business Africa reported that the policy of
Naira Hawkers Face Arrest, CBN Says Banks Ignoring New Banknotes
The Central Bank of Nigeria (CBN) has threatened to arrest persons selling the new naira notes, as it begs banks to come collect the redesigned currencies. During a sensitization programme on Wednesday, January 18, the head of Legal department of the central
CBN’s Godwin Emefiele Tells GTBank, Zenith, Others To Source Non-oil Export Forex
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has urged banks to source for foreign exchange (forex) through non-oil exports. Emefiele said Nigerian banks, which consist of GTBank, Zenith Bank, Access Bank, Stanbic IBTC, Wema Bank, among others, should
CBN Warns Banks Rejecting ATM’s Amid Customer Complaints
CBN Warns Banks switching companies, and other relevant parties warned against rejecting payment cards issued by other financial institutions. The Central Bank of Nigeria (CBN) made the warning in a circular titled, ‘Re: Interoperability and Interconnectivity of the Payments System Infrastructure in
Featured Stories
Whatsapp Channel
Latest News
Trump Threatens 100% Tariffs on Canadian Goods Over China Trade Deal
U.S. President Donald Trump has threatened to impose 100 per
Nigeria Tightens Rules for Courier Companies Using Prepaid Imports
Nigeria’s customs authority has introduced new rules for courier companies
Behind the Geregu Power Sale: Politics and a $750m Deal
The sale of Geregu Power, one of Nigeria’s largest electricity
UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn
United Bank for Africa (UBA) has successfully concluded its rights
Follow Us