Business
BREAKING: CBN Fines Nine Banks N1.3bn for Not Stocking ATMs
The Central Bank of Nigeria (CBN) has sanctioned nine deposit money banks (DMBs) for failing to ensure cash availability via automated teller machines (ATMs) during the…
Topic
CBN
Business
CBN releases telephone numbers for reporting cash scarcity at ATMs
The Central Bank of Nigeria (CBN) has provided designated contacts for bank customers to report difficulties experienced with withdrawing cash over the counter or at automated…
Business
JUST IN: House of Reps blocks CBN’s mass retirement plan, probe N50billion payoff
The House of Representatives has intervened in the Central Bank of Nigeria’s (CBN) planned mass retirement of over 1,000 staff,. The Green Chambers has suspended the…
Business
CBN Set To Retire 1,000 Staff Before End of 2024, Offers N50 Billion as Payoff
The Central Bank of Nigeria is set to retire at least 1,000 of its workforce before the end of December 2024, Daily Trust reports. Sources at…
Business
BREAKING: Nigeria’s hardship piles up as CBN introduce new policy
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 50 basis points, bringing it from 26.75% to 27.25%. This decision was…
Business
JUST IN: CBN directs payment service providers to begin PoS transaction tracking
The Central Bank of Nigeria has directed all Payment Service Providers to route all transactions from PoS terminals at merchant and agent locations — physical or…
Business
Opay, Moniepoint, Other Fintechs End Free Banking as N50 EMTL Deduction On N10,000 Transfers Begins
Fintech companies, including OPay, Moniepoint and others, have started notifying their customers of plans to begin deduction of N50 Electronic Money Transfer Levy (EMTL) from every…
Business
Remittance inflows surge by 130% to $553 Million in July 2024 – CBN
The Central Bank of Nigeria (CBN) has reported a 130% surge in remittance inflows, with the figure reaching $553 million in July 2024. According to the…
Business
CBN makes fresh clarification on license revocation of four major banks
The Central Bank of Nigeria (CBN) has denied plans to revoke the operating licenses of four major banks in the country – Fidelity, Polaris, Wema, and…
Business
Heritage Bank: ‘No plans to withdraw licenses of banks’ CBN
The Central Bank of Nigeria (CBN) has rebuffed false allegations circulating in the public domain, suggesting that the CBN is set to revoke the licenses of…