The Commissioner of Police, Anti-Fraud Unit, Federal Criminal Investigation Intelligence Department (FCIID) Ikoyi- Lagos, Dan Okoro, on Thursday raised alarm over many cloned certificates and ATM cards in circulation. Mr Okoro raised the alarm while […]
The senate has asked the Central Bank of Nigeria (CBN) to direct commercial banks to increase the maximum amount customers can withdraw from automated teller machines (ATMs) to N40,000 per transaction. The maximum is currently […]
Another bridge bank, Polaris Bank Limited, debuted in Nigeria’s banking industry the other day, courtesy of the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC). The nation was casually told that the […]
The efforts to leverage mobile phones to create a cashless economy and drive financial inclusion are yielding results as financial transactions on mobile devices continue to soar, IFE OGUNFUWA writes The value of transactions via […]
Reports that banks in the country have been reducing their loan portfolio to businesses should not be taken lightly by the power elite and those who have responsibility to manage the economy. Businessmen and intending […]
The Central Bank of Nigeria (CBN) has taken over Skye Bank Plc. Although details of the development are still sketchy, PREMIUM TIMES learnt the financial sector regulator has already approved a change of name of […]
The Central Bank of Nigeria (CBN) has directed banks to pay N10,000 for each failed transaction based on customers’ complaints not reversed within 24 hours. This was contained in a circular by the apex bank, […]
Honestly, I don’t know who advised the Buhari government to do cash transfer of the $320m/N98bn recovered Abacha loot to the 121 million Extreme Poor Nigerians. I don’t know how they planned to factually and […]
Four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions, they are to refund N5.87 billion to the […]
In a recent report by the National Bureau of Statistics (NBS), the Information and Communications Technology (ICT) sector of the economy received credit facilities worth N814.5 billion from the banks in the second quarter(April to […]
In an address to Pressmen, about 5 years ago, in Abuja, Lamido Sanusi, who was then CBN Governor (2009-2014), unexpectedly, decried the prevailing monetary framework which facilitated banks’ access to make free money from their […]
SunTrust Bank has appointed Ayo Babatunde (pictured) as its new chief executive officer effective August 1, 2018. Babatunde, who was the former senior vice president – regional treasurer of Ecobank Nigeria, is replacing Muhammad Jibrin. […]
Since the financial crisis that enveloped the global market a decade ago, the profitability and reputation of banks has been under tremendous pressure worldwide, Nigeria inclusive. Whilst the banking industry is now regaining its health, […]
Keystone Bank Limited, Africa’s most innovative banking service provider shone brightly at the International Banker Awards, 2018 as the lender emerged winner in two categories, beating other nominees and carting away the prize for “Africa’s […]
The Central Bank of Nigeria (CBN) has revised the clearing system rules for deposit money banks in the country. The revision will kick off on September 1, the apex bank said on Wednesday. Dipo Fatokun, […]
Fastest growing financial institution in Nigeria, Keystone Bank Limited, has once again added to its growing list of laurels as the lender recently emerged ‘Africa’s Most Innovative Bank of the Year, 2018’ at the prestigious […]
There should be measured jubilation by customers of banks in the country on the new stance of the Central Bank of Nigeria (CBN) that banks imposing excess charges on their customers would be made to […]
Money deposit banks are still reluctant to register their domains on .ng, Nigeria’s Code Top Level Domain (ccTLD), preferring instead foreign domains, despite several years of lobbying and campaigns by Nigeria Internet Registration Association (NIRA) […]
Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says a number of Nigerian banks are on the brink of collapse due to huge debts owed by “unscrupulous customers”. Magu spoke on […]
Millions of people have been left unable to pay for goods and services in shops, petrol stations and railway stations across Britain and Europe after an unprecedented crash in Visa’s payment system. Shoppers and travellers […]
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