The Central Bank of Nigeria (CBN), on Saturday, directed all commercial banks to resolve disputes arising from use of Unstructured Supplementary Service Data (USSD) channel within three days. Mr Dipo Fatokun, CBN’s Director, Banking and Payment Systems Department, gave the directive at the ‘Meet The Executive’ forum organised by Finance Correspondents Association of Nigeria (FICAN) […]
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The Central Bank of Nigeria (CBN) has eased the stress of all intending travellers by mandating all money banks to sell foreign currency over the counter with the presentation of passports and air tickets. While giving the order in a statement issued by its acting director of corporate communications, Isaac Okorafor on Saturday evening, the apex […]
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The death toll from Thursday’s robbery attack in Offa town in Kwara State has risen to at least 30. About 30 robbers had hit the town, raiding five commercial banks along the Owode Market Area of the town in Offa Local Government Area of the state. The attack which lasted for hours had left the […]
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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 of a central bank report on digital thefts at Russian banks, is the latest in a string of attempted and […]
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Britain’s biggest lender, Lloyds Banking Group Plc, has disclosed that it would ban its credit card customers from buying crypto currencies. Reuters reported on Monday that the development, which followed the lead of U.S. banking giants JP Morgan Chase & Co (JPM.N) and Citigroup (C.N), is aimed at protecting customers from running up huge debts […]
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The Nigerian Senate on Tuesday directed its Committee on Banking to investigate illegal deductions and arbitrary charges on depositors’ funds by commercial banks. It was also decided that the Governor of the Central Bank of Nigeria (CBN) and officials of the central bank, forensic auditors, managing directors of commercial banks and other stakeholders, be mandated […]
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The National Information Technology Development Agency, NITDA, has raised concern over imminent cyber-attacks on banks and some other key establishments in the country by hackers. NITDA said in a statement Monday that cyber criminals or hackers may launch a cyber attack on some Nigerian banks, health institutions and other government agencies very soon. Isa Ali […]
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After six months of tussle, an Abuja federal high court presided over by Binta Nyako, has ordered that 16 frozen bank accounts belonging to former first lady, Patience Jonathan be unfrozen. The presiding judge, gave the order on Tuesday – having frozen the accounts on May 30. The accounts were frozen on account of a […]
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The Nigeria Deposit Insurance Corporation, NDIC, has revealed that bank loans in the country has risen to N2.4 trillion. NDIC said the economic challenges in the country made the level of non-performing loans in the Deposit Money Banks to rise by 50 per cent from N1.639tn in December 2016 to N2.424tn by September this year. The […]
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Justice Nnamdi Dimgba of the Federal High Court in Abuja has granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to Bank Verification Numbers, BVN. Also to be forfeited are funds in accounts whose ownership could not be identified. The […]
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