Following the third day of complete implementation of the Supreme Court ruling on the legal tender status of the old Naira banknote, cash transmission has improved in major cities across Nigeria, even though normalcy appears to be taking a while to return. According to research, banks have started dispensing outdated […]
BANKING
In furtherance of its leading role in promoting the socio-economic inclusion of women in society, First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its dedication of the month of March to the celebration of women across the world, as it commemorates the globally […]
The Central Bank of Nigeria, CBN has expended N114.17bn to beneficiaries under its 100-for-100 Policy on Production and Productivity since the starting point of the intercession. The CBN Governor, Godwin Emefiele, disclosed this in a statement issued by after the last Monetary Policy Committee meeting held in Abuja. According to […]
The Association of Corporate Affairs Managers of Banks (ACAMB) has insisted that financial institutions do not have any reason to hoard the currency in the face of enormous hardships facing Nigerians. The association also argued that banks have invested over N100 billion in the past few years in setting up […]
By Idris Bakare The Central Bank of Nigeria (CBN) has directed banks to commence the payment of the new Naira notes over the counter. However, this is subject to a maximum daily payout limit of N20,000. Before now, the redesigned notes could only be paid through ATMs. The bank has […]
Following allegations of unlawful disclosure of banking records to a third party and unlawful access and processing of personal data, the Nigeria Data Protection Bureau has opened an investigation into allegations of data breach by GT Bank and Zenith Bank. In a statement by Babatunde Bamigboye, Head, of Legal Enforcement and […]
By Idris Bakare The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, Afrigo. Launching the card virtually, the Governor of the Central Bank of Nigeria, Godwin Emefiele said that transaction charges on all cards would henceforth be paid in naira, except for international transactions. According […]
By: Idris Bakare In furtherance of its Naira Redesign policy and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their Naira, the Central Bank of Nigeria (CBN) has launched a Cash Swap programme in partnership with Super Agents and Deposit Money […]
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the 2023 edition of its Nigeria Economic Outlook event. The virtual event themed “Nigeria Economic Outlook 2023: A look ahead” is scheduled by 8:30 am on Friday, 20 January 2023, via Zoom meeting. To […]
Dr Adesola Adeduntan, Managing Director/Chief Executive Officer of First Bank Nigeria Limited, has advised financial institutions in the country to be vigilant and improve the monitoring of their customers’ loans in order to prevent the industry from building up non-performing loans (NPLs) as a result of macroeconomic challenges. In an […]