Banks, fintechs flouting CBN’s daily withdrawal limit, allow fraudster withdraw N374 million -NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has accused Nigerian banks and fintechs of flouting the Central Bank of Nigeria's (CBN’s) ...
Tag: banks
News and analysis about banks
Cash withdrawal chaos frustrates Nigerians as ATMs fail and POS operators struggle
Frustrations continue to rise among Nigerians as they face persistent challenges accessing cash due to limits on ATM withdrawals and ...
How Interest Rates Work!
Interest rates affect everything—from the cost of loans to the returns on your savings. But what determines these rates, and ...
USSD debt: Banks move to avoid disconnection as January 27 deadline approaches
The impending disconnection of Unstructured Supplementary Service Data (USSD) of nine commercial banks may not happen as the affected banks ...
Finance ministry budgets N75 million to monitor banks next year
The Federal Ministry of Finance has allocated N75 million in its proposed 2025 budget to monitor the activities of banks ...
CBN grants banks approval to trade idle FX deposits from ‘designated domiciliary’ accounts
The Central Bank of Nigeria (CBN) has given the green light to commercial, merchant, and non-interest banks operating in Nigeria ...
High interest rate, inflation to increase non-performing loans of Nigerian banks – Fitch report
Credit ratings agency, Fitch has projected that non-performing loans of Nigerian banks will increase in 2024 on the back of ...
CBN extends suspension of cash deposit processing fees till March 31st, 2025
The Central Bank of Nigeria (CBN) has extended the suspension of cash deposit processing fees from September 30, 2024 to ...
Windfall tax: FG collecting taxes on already reported profit could deter future investment – PwC
Tax and Advisory Service firm, PricewaterhouseCoopers (PwC) has stated that the federal government’s latest legislation to tax already reported profits ...
Why global banks control forex trading
Bank traders account for 92% of all Forex trading activity.
