While there are ongoing conversations between the telecommunications operators and the banks at the regulatory level to find an amicable solution to the protracted crisis affecting the Unstructured Supplementary Service Data (USSD) platform, the service […]
The Central Bank of Nigeria (CBN) has announced plans to introduce an unstructured supplementary service data (USSD) code to improve the adoption of its eNaira. Kingsley Obiora, CBN deputy governor, said this at the International […]
Zenith Bank, GT Bank, and Stanbic IBTC Holdings retained the top spot for most valuable commercial banks in Nigeria as of the end of January 2022, as the market capitalization for the thirteen listed Nigerian […]
Airlines must operate more flights in Britain this summer as demand recovers from the pandemic or lose lucrative take-off and landing slots, the UK government warned Monday. Carriers operating in Britain are currently using about […]
Surprisingly but truly, it is becoming rare nowadays to find any offspring of practising or retired bankers who wittingly opt to step into the shoes of their banker-parents. Although this trend might not be obvious […]
Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that in less than four weeks, the eNaira app had witnessed almost 600,000 downloads since its launch in October. Emefiele disclosed this at the […]
The Central Bank of Nigeria (CBN) said counterfeit Naira notes in Nigeria dropped 20.80 per cent in volume and 12.18 per cent in value in 2020, lower than 84,934 pieces and N64.71 million in 2019. […]
The United Bank of Africa (UBA) has published names and account numbers of some customers alleged to have violated the forex policy of the Central Bank of Nigeria (CBN).Advertisement The CBN had directed Deposit Money Banks […]
The Deposit Money Banks (DMBs) in the country said they have complied with directives of the Central Bank of Nigeria (CBN) on the sale of foreign exchange to all customers. At the end of the […]
Access Bank Plc, Nigeria’s biggest bank by customer base, has completed the acquisition of African Banking Corporation in Mozambique, backed by a London Stock Exchange-listed group, Atlas Mara Limited. This is the bank’s fifth acquisition […]
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to traders, who said this could be a move by the central bank to unify multiple […]
The Central Bank of Nigeria (CBN) has directed Deposit money banks (DMBs) in the country to accept both Old series and lower denominations of United States Dollars (USD) that are legal tender for a deposit […]
Nigeria’s biggest lender Access Bank has bought a controlling stake in South Africa’s Grobank for around $60 million. The bank’s CEO Herbert Wigwe said Access will shore up Grobank’s capital. With the acquisition, Access Bank […]
By Haleem Olatunji Access Bank says it has acquired regulatory approval for its proposed acquisition of Grobank Limited, a South African bank. This was announced in a statement signed by Sunday Ekwochi, the company secretary, […]
By Haleem Olatunji Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) have agreed to reduce the charge on customers using unstructured supplementary service data (USSD) to N6.98 for each transaction. In a joint statement […]
By Haleem Olatunji The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says it will suspend unstructured supplementary service data (USSD) services over N42 billion debt owed by financial service providers. This was announced in […]
The Central Bank of Nigeria (CBN) on Saturday introduced a new incentive to encourage inflow of diaspora remittances. The incentive, tagged “Naira 4 Dollar Scheme”, was announced in a circular signed by Saleh Jibrin, CBN […]
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the new diaspora policy — “Naira 4 Dollar Scheme” — will make remittance transfer cheaper for Nigerians in the diaspora. Emefiele said this during […]
By Chijioke Ohuocha The Naira fell on Monday and bid-ask spreads widened as the local spot currency market struggled with a scarcity of U.S. dollars, traders said. One dealer at a top-tier Nigerian bank quoted […]
The Central Bank of Nigeria (CBN) has warned commercial banks and other financial institutions to desist from dealing in cryptocurrencies as it is illegal. The apex bank stated this on Friday in a statement on […]
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