-
Online Gambling In Nigeria Poses Huge Financial Risks, As Banks Report N9.5Billion Loss In 2023
According to the Nigeria Inter-Bank Settlement System (NIBSS), banks there have already lost roughly N9.5 billion in 2023. Premier Owoih, the managing director of NIBSS, said this at the third-quarter meeting of the Nigeria Electronic Fraud Forum (NeFF), which was held in Lagos.The MD, represented by Temidayo Adekanye, the NIBSS Chief Risk Officer -
Enugu Govt Seals Two Banks, 107 Shops For Obeying IPOB’s Sit At Home Order
Enugu State Government has sealed two commercial banks and 107 shops for allegedly observing an “illegal sit-at-home order” on Monday in the state.The sit-at-home is usually enforced by a faction of the outlawed Indigenous People of Biafra (IPOB) in Enugu and other South-east states.The Enugu Capital Territory Development Authority, led by the -
How Nigerian Banks Shut Out Next of Kin From Money in Your Account After Death – Man Exposes
A Nigerian man known as @moderate_ustaz has shed light on the deceptive practices of some Nigerian banks concerning the inheritance of funds from deceased bank account holders and the role of next of kin.According to his revelations, the widely held belief among Nigerians that next of kin automatically inherit the money in the deceased’s account -
Ban On Sit-At-home: Markets, Malls, Banks, Schools Open As Enugu Gov Mbah Monitors Compliance
It was relatively a beehive of activities as the governor of Enugu State, Dr. Peter Mbah, toured various parts of the state capital on Monday to monitor compliance with the ban on the illegal sit-at-home declared by some non-state actors.This was even as Enugu traders and residents told the governor that they were tired of sitting at home, describ -
Enugu Gov. Mbah Monitors Compliance With The Ban On Sit-At-Home After Markets, Malls,Banks Open
Activities picked up on Monday as the governor of Enugu State, Barr Peter Mbah, toured various parts of the state capital to monitor compliance with the ban on the illegal sit-at-home declared by some non-state actors.This was even as Enugu traders and residents told the governor that they were tired of sitting at home, describing it as a plague k -
Be Wary Of Transactions From Cameroon, Vietnam - CBN Tells Banks
The Central Bank of Nigeria (CBN) has issued a new directive to banks. The CBN asked banks and other financial institutions to pay particular attention when conducting transactions with businesses and individuals in certain countries. The countries specified by the apex bank include Cameroon, Croatia and Vietnam. The directive is contained in a ci -
Banks Raise ATM Cash Withdrawal Limit To N200,000
Commercial banks in Nigeria have raised daily amount to be withdrawn from ATMs to N200,000. This comes months after the Central Bank of Nigeria had restricted withdrawals on automated teller machines, according to Leadership Newspaper. In an emailed notice to customers yesterday, Zenith Bank said customers can now ‘perform cash withdrawals of up -
JUST IN: CBN Grants Banks Freedom To Trade Forex At Any Rate
The Central Bank of Nigeria has made a new announcement about forex trade, Daily Post reports. The apex bank announced that it has allowed commercial banks to freely trade foreign exchange at any rate. The announcement comes after Godwin Emefiele’s suspension as CBN’s governor.Naira to trade ‘freely’ against Dollar as CBN reportedly grants -
UPDATE: Nigerians Can Now Get Debit ATM Cards That Double As NIN Cards From Banks
The Federal Government says Nigerians can now request their commercial banks to issue them with a debit card which doubles as their National Identity Card at no extra cost.The Minister of Communications and Digital Economy, Prof Isa Pantami, who disclosed this on Wednesday in Abuja, said the approval was obtained at the meeting of the Federal Exec -
CBN Revokes Licences of 139 Microfinance, Primary Mortgage Banks (See Full List)
The Central Bank of Nigeria (CBN) says it has revoked the operating licences of 132 microfinance banks, three finance companies, and four primary mortgage banks.Godwin Emefiele, governor of the apex bank, revoked the licences of the institutions on Monday, an official gazette of the federal government said.Emefiele revoked the licences in exercise -
EFCC Warns Banks Compliance Officers Against Corrupt Practices
The Economic and Financial Crimes Commission (EFCC) has warned financial institutions and compliance officers to be diligent and avoid being complicit in financial practices.The commission issued the warning during a meeting held with banks’ compliance officers from Kwara and Kogi States in Ilorin.Michael Nzekwe, the Zonal Commander of the Ilori -
Dormant Accounts: CBN Slams N2m Fine On Erring Banks
The Central Bank of Nigeria, CBN, has slammed some banks with a fine. The CBN slammed a minimum fine of N2 million as penalty on banks that disobey its new guidelines on the management of dormant accounts, unclaimed balances and other financial assets in financial institutions in the country CBN defines a dormant account as a bank account that has -
Trouble For Seyi Makinde As Court Blocks Oyo Govt’s Accounts In 4 Banks Over N3.4bn Debt
A High Court of the Federal Capital Territory (FCT), Abuja, has issued an order attaching funds standing to the credit of the Oyo State Government and its agencies in four banks.Justice A. O. Ebong issued the order while ruling on a motion ex-parte for garnishee order filed by the ex-chairpersons and councillors led by Bashorun Majeed, Bosun Ajuwo -
CBN Supplies More Cash To Banks For Dispense Through ATMs
The Central Bank of Nigeria (CBN) has increased its efforts to supply the economy with more cash by releasing more old notes to Deposit Money Banks (DMBs) after a prolonged cash crunch that has affected millions of Nigerians.The CBN released several billions of naira to DMBs over the weekend, prompting many bank branches in Lagos, Abuja, Ogun, and -
CBN Orders Banks To Open On Saturday And Sunday For Massive Disbursement of Naira Notes
All Deposit Money Banks have been ordered to open on Saturday and Sunday for massive disbursement of naira notes by the Central Bank of Nigeria (CBN). CBN gave the order on Friday. The apex bank has also commenced massive deployment of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circ -
Old Notes Circulation: CBN Begins Monitoring Today, Banks Set Two-Week Target
The Central Bank of Nigeria has moved to make more cash available tp Nigerians. The CBN, on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide. The central bank had directed DMBs t -
CBN To Flood Banks With Old Naira Notes Today
The Central Bank of Nigeria (CBN) moved last night to end the biting cash scarcity. It plans to flood the banks with more old N1000 and N500 notes. Reliable sources in the apex bank said that headquarters of commercial banks had been contacted to collect the old notes they returned to the Central Bank for recirculation. “Banks have been instruc -
Banks Lament Not Getting New Naira Notes From CBN
The Central Bank of Nigeria (CBN) may have halted the supply of new N200, N500 and N1,000 notes to Money Deposit Banks (DMBs), causing frustration for Nigerians eager to transact with them.Several banks reported not receiving new notes from the CBN, while others claimed that the old notes they had been given were insufficient to meet customers’ -
Relief As More Banks Disburse Old, New Naira Notes In Abuja
Many Abuja residents are starting to find some relief from the horrors of naira notes shortage. The residents are beginning to heave a sigh of relief as more commercial banks began disbursing old and new naira notes in line with the directives of the Central Bank of Nigeria (CBN). A visit to some banks on Wednesday showed there were shorter queues -
Nigerians React As CBN Orders Banks To Accept Old N500, N1000 Naira Notes
Nigerians have reacted after the Central Bank of Nigeria finally bowed to Supreme Court order stating that old N500 and N1000 Naira notes are still legal tender. Recall that the CBN had released a statement saying the old notes are still legal tender hours after President Muhammadu Buhari insisted that he did not order the CBN Governor, Godwin Eme -
Gov. Sanwo-Olu Threatens to Shut Businesses, Banks Rejecting Old Naira Notes in Lagos
Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday, directed residents of the State to go ahead and have transactions with the old Naira notes, saying Lagosians should feel free to use the old notes for commercial purposes.Governor Sanwo-Olu gave the directive in a letter he wrote and addressed to Lagosians.The Governor said his directive on t -
BREAKING: Naira Crisis: CBN Authorizes Banks To Dispense & Accept Old Naira Notes
The Governor of Anambra State, Prof Charles Soludo confirmed on Monday that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits.It was reported that Soludo, a former CBN governor, made this known in a statement he posted on his social media handles.He explained that the Governor of CBN, Godwin -
Bank Customers Share Their Ordeal After Accepting Old Naira Notes From Banks
Some Nigerian bank customers have talked about their experiences after collecting the old naira notes.They say they regret collecting the old denominated N500 and N1,000 notes from commercial banks, after the Supreme Court judgment validating it as legal tender till Dec. 31.They told the News Agency of Nigeria (NAN) in separate interviews that it -
Fuel Stations, Others Reject Old Notes, Banks Ration Cash
The PUNCH reports that the fresh move by some Deposit Money Banks to re-circulate old N500 and N1,000 notes has hit quite a setback. The move suffered a setback on Tuesday as motorists, fuel stations, retailers, traders, and other categories of bank customers rejected the old currencies. The development came about 48 hours after some commercial ba -
Collecting Old Naira Notes From Banks Risky – Banker Warns
Indications have emerged that customers who are accepting old N1000 and N500 notes from their banks are doing so on their own. This is because such customers would not be able to deposit the same old notes in banks at the moment until the Central Bank of Nigeria (CBN) orders commercial banks to start paying and receiving the old notes. Following t -
JUST IN: Banks Resume Paying Nigerians Old N500, N1000 Notes
Some deposit money banks have started paying out the old notes, following the Supreme Court judgment, which extended the validity of the Central Bank of Nigeria (CBN) currency redesign policy to December. Some checks by Daily Trust showed that some commercial banks in the City of Kano and Abuja have commenced paying out the old N500 and N1000 note -
Why Banks Are Not Issuing Old Naira Notes Even After Supreme Court's Ruling
Banks in Nigeria have revealed why they are not issuing the old 200, 500 and 1000 as directed by the Supreme Court. The apex court had last week ruled that the old notes are still legal tenders till December 31st 2023. Banks in reaction to the apex court’s directive noted that they can’t commence re-issuance of the old notes until they are dir -
BREAKING: Banks Resume Receiving Old N500, N1000 Notes
Investigations have revealed that Deposit Money Banks (DMBs) have started receiving old N500 and N1000 notes again.Investigations have indicated that the banks have been receiving the old N500 and N1000 notes since the beginning of this week.A bank official told Vanguard, in Abuja, yesterday, that customers could deposit any amount below N500,000. -
Naira Scarcity: Customers Lament As Banks Resume Operations After Election In Osun
Residents of Osogbo, the Osun State capital, have continued to experience scarcity of Naira notes even as the February 25 presidential and National Assembly elections have been concluded.Majority of the banks operating in Osogbo only opened for business to attend to customers with different issues inside the bank while their Automated Teller Machi -
Banks Announce Early Closure Ahead Of Saturday Polls
Commercial banks in Nigeria have announced that they will shut down their branches early on Friday. According to the banks, this is due to the Saturday, February 25th presidential and national assembly elections, Customers have been sent notifications informing them of the early closure of services. Most of the banks usually close at 4:00 PM. Howe
News and Updates
Popular Stories Today
Mayorkun Slam Nicki Da Barbie With N1b Lawsuit For Damaging His Reputation, Accusing Of Been A
VIDEO: Unrest In Plateau As Gunmen Kill University Student, 19 Others 20 In Fresh Attack
‘It’s False’ - Singer Skiibii Reacts To Nicki Dabarbie’s ‘Ritual’ Accusation
Top Stories This Week
Moment Atiku Abubakar And Nyesom Wike Snub Each Other At PDP National Caucus Meeting (VID)
The Real Reason Tinubu Government Went After Bobrisky - Reno Omokri Drops Bombshell
U.S-Based Model's Accidental Post Of Her With Davido In A 'Cozy" Mood Sparks Rumors(Photos)
Check Out The Video That Got Cubana Chief Priest Into EFCC's Net
Jubilation In Nigeria As Many Are Currently Receiving N50k Inside Their Account From Tinubu
PICS: Ex Ooni Of Ife's Wife, Queen Naomi Ties The Knot Again On Her 31st Birthday
Embarrassing Turn for Afrobeats Star, Davido in Latest Romantic Scandal With American Model
Kim Kardashian Shows Off Lots of Flesh as She Debuts Her SKIMS SWIM Summer 2024 Line
Lady Who Accidentally Posted Cozy Photos With Davido Shares New Shocking Video of The Singer
TOP MEMBERS:
- gogoman961
- fineboy77 619
- felicilin 493
- bohlah 245
- kacylee 230
LATEST COMMENTS
- Baye77 on: Mayorkun Slam Nicki Da Barbie With N1b Lawsuit ..
I love this. Don't back down! Even if she comes back and tender one rubbish apology, make sur.. (4 minutes ago) - nikiniki on: Jubilation in JUTH As 49 Year Old Woman Welcome..
thank God for safe delivery. At least she made others know that she got the IVF. (41 minutes ago) - ficull on: VIDEO: Lady Cries Profusely After Boyfriend Of ..
Women doing women. Interesting. (1 hour ago) - ficull on: VIDEO: "I Am A Late Bloomer" - Lady S..
Agreed. A win is a win. Congrats. (1 hour ago) - gogoman on: Comedian Sydney Talker Calls For Prayers For Ai..
He needs to stop doing drugs first ::) ::) ::) (1 hour ago)
SECTIONS
- Politics
- Celebs/Entertainment
- Romance
- Metro
- Sports
- Law / Crime
- Education
- Religion
- Family
- Comedy/Funnyhub
- Forum Games