How Nigerian Banks lose N43bn to fraud in 91 days …C0NTINUE READING HERE >>> The Financial Institutions Training Centre (FITC) has revealed that a whopping N42.6 billion was lost to frauds within the second quarter, (April -June) of 2024. The FITC, in its Q2 2024 Fraud and Forgeries report just released, noted that the development … Read more
CBN gives directive to start monitoring all PoS transactions …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has ordered payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed … Read more
CBN directs payment service providers to begin PoS transaction tracking …C0NTINUE READING HERE >>> The Central Bank of Nigeria has issued a 30 days ultimatum to Payment Service Providers (PSPs) in the country to adhere to the revised routing instructions for Point of Sale (PoS) transactions. The directive was issued in a circular dated September … Read more
CBN records $553m remittance inflows for July …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN), says it recorded a significant increase in remittance inflows of 553 million dollars in July. According to a statement issued by CBN’s Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali, the all-time high remittances represents a 130 per cent … Read more
Court orders forfeiture of $2.04 Million, seven properties linked to ex-CBN governor Emefiele” …C0NTINUE READING HERE >>> The Federal High Court in Lagos has ordered the interim forfeiture of $2.04 million and seven properties linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. Justice Akintayo Aluko issued the order following an application … Read more
Naira strengthens despite hunger Protests, gains N42.88 against Dollar …C0NTINUE READING HERE >>> The Naira appreciated by N42.88 against the dollar in the foreign exchange market on a week-on-week basis, following the Central Bank’s introduction of the Retail Dutch Auction System (RDAS). This data comes from FMDQ over the past seven days. On Friday, August … Read more
CBN adopts Retail Dutch Auction to boost liquidity …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) says it undertook the sale of foreign exchange (Fx) to end users through a Retail Dutch Auction System (rDAS). According to a statement by Omolara Duke, Director, Financial Markets Department of the apex bank, the step was … Read more
Merger of Unity-Providus banks gets CBN’s nod …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Ltd. According to a statement by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, this strategic move … Read more
CBN Approves Providus Bank and Unity Bank Merger …C0NTINUE READING HERE >>> CBN has approved the Providus Bank and Unity Bank merger. Newsone Nigeria reports that the Central Bank of Nigeria (CBN) led by Olayemi Cardoso, has approved the framework for the merger between Providus Bank Limited and Unity Bank Plc, marking a significant milestone in the … Read more