The Central Bank of Nigeria says commercial banks and other financial institutions must settle customers’ complaints within two weeks. NAN reports that Tajudeen Ahmed, CBN head of complaints management division, gave this directive on Tuesday […]
Deposit Money Banks in the country have, appropriately been ordered by the Central Bank of Nigeria (CBN) to suspend bank accounts and Bank Verification Numbers (BVN) of their customers linked with any fraudulent activities. It […]
Households have become severely traumatised nationwide, by the escalating prices of goods and services, particularly in the last six months or so. The uneasy feeling that one’s pocket has been picked has probably become common […]
Unidentified hackers stole 339.5 million rubles ($6 million) in an attack on the SWIFT international payments messaging system in Russia last year, the Russian central bank said on Friday. The disclosure, buried at the bottom […]
In demonstration of its commitment to deliver superior and innovative banking solutions to its customers, Keystone Bank has announced the launch of a brand new mobile banking application with many user friendly features which can […]
The bankers’ committee says commercial banks will no longer charge customers commission on retail foreign exchange transactions. Retail forex transactions include purchase of forex for personal travel allowance (PTA), business travel allowance (BTA), school fees […]
Lloyds Banking Group on Monday joined major US banks in banning purchases of bitcoin and other cryptocurrencies via credit card amid debt and security concerns. An LBG spokesman said the ban was across its Lloyd […]
Nigerians may no longer be able to carry out international transactions as Egmont Group is considering expelling the Nigerian Financial Intelligence Unit (NFIU) because of governance issues. A major consequence of the expulsion will be […]
Paddy’s story shows that everything starts with a dream. Whereas he has more space to dream as he doesn’t have problems with hunger and desperate survival, still the story tells of how anything that has […]
A returned cheque is a cheque that the bank does not honour. The cheque will be returned to the bank that submitted the cheque for payment (typically the recipients or payee’s bank). If you are […]
An official of Stanbic IBTC Plc, Mr. Adedayo Adesanmi, told the Federal High Court in Abuja on Wednesday that the accounts of a businessman, Jide Omokore, with the bank and into which $1.6bn proceeds of […]
Adegoke Elijah Adegbami, a financial management consultant who is also one of the pioneers in microfinance bank management in Nigeria, is currently the managing director of Mainstreet Microfinance Bank Limited in 2009, a subsidiary of […]
The Debt Management Office (DMO) will roll over treasury bills worth N1 trillion in the first quarter of 2018, data made available by the Central Bank of Nigeria has shown. This represents 85 percent of […]
A number of Deposit Money Banks in the country have barred their customers from using debit and credit cards to withdraw dollars, euros, pounds and other foreign currencies whenever they travel abroad, investigation by our […]
Fitch, one of the big three rating agencies in the world, says Tier 2 Nigerian banks may struggle to remain profitable in 2018. In a statement released on Thursday, Fitch said reduced treasury bill issuance […]
THE deadline for customers of Microfinance Banks (MfBs) and Other Financial Institutions (OFIs) without Bank Verification Number (BVN) linked to their accounts has elapsed today, January 1,2018. If the directive by the Central Bank of […]
Innocent Chukwuma and GTB are family members in this game. It is poverty that makes you invest in Yoruba-Igbo feuding when there is no such thing going on in this matter. One percenters are too […]
Abuja – Guaranty Trust Bank (GTBank) on Thursday put up desperate moves to calm customers who were aggrieved over the arrest of Innoson Motors’ boss, Innocent Chukwuma, from closing their accounts. Many aggrieved customers of […]
The introduction of Biometric identification was to stop different kinds of fraud. There were too many fictitious bank accounts; inactive bank accounts are raided by the employees, to stop this, the bank instituted a regime […]
In order to change the rules of the game, we must also go after the financial intermediaries by regulating their operations and demanding they explain their use of offshore structures. Each country must also declare […]
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