Tag:
Banks
Business
All Commercial Banks Now Integrated for Form ‘M’ Openings — Customs
In a significant move to modernize Nigeria’s trade facilitation processes, the Nigeria Customs Service (NCS) has announced the full integration of all commercial banks...
Business
Global Banking Scandal: Four Major Banks Face $132M Penalty for Market Manipulation
In a major development within the global banking community, four international banks, including Citi, HSBC, Morgan Stanley, and the Royal Bank of Canada (RBC),...
News
NDIC Auctions Heritage Bank’s Assets, Moves to Repay Depositors
The Nigeria Deposit Insurance Corporation (NDIC) has successfully auctioned off the assets of the defunct Heritage Bank, a move aimed at reimbursing depositors with...
Business
CBN Orders Banks to Publish Dormant Accounts, Unclaimed
The Central Bank of Nigeria (CBN) has set in motion a sweeping financial transparency initiative aimed at bringing dormant bank accounts and unclaimed balances...
News
ATM Withdrawal Mustn’t Be Below N20,000, CBN Warns Banks
The Central Bank of Nigeria (CBN) has threatened to penalise banks that compel customers to withdraw amounts lower than N20,000 per transaction from Automated...
News
Naira Strengthens to N1,493 as Central Bank’s Forex Code Gains Traction
The Central Bank of Nigeria’s (CBN) newly launched Foreign Exchange (Forex) Code has sparked a remarkable turn for the Naira, seeing it appreciate against...
Business
CBN To Clear $7 Billion Forex Backlog, Sanction Defiant Banks
The Central Bank of Nigeria (CBN) has officially confirmed that the long-awaited payments for the country's foreign exchange (forex) backlog will soon begin. This...
Tech
NCC Targets Nine Banks in N200bn USSD Debt Showdown
The Nigerian Communications Commission (NCC) has issued a stern directive to telecommunications operators to cut off Unstructured Supplementary Service Data (USSD) codes linked to...