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CBN Gives Warning on Access to Discount Window

The Central Bank of Nigeria (CBN) yesterday insisted that certain categories of its authorised dealers are not allowed to access the discount window on specified transactions. The central bank stated this in a circular to all dealers on the access to the discount…
10/10/2022

NDIC Clears Trapped Funds Of 20 Failed Bank Customers

The Nigeria Deposit Insurance Corporation (NDIC) has announced the complete settlement of customers of 20 closed banks whose deposits were trapped in the failed banks, in fulfilment of its promise of protecting depositors in the event of bank failures. “The implication of this…
07/10/2022

Rise in Disruptive Banking Technologies Disturbing – Emefiele

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday stressed that the rapid evolution of financial technology (fintech) companies has continued to alter the financial landscape globally. He said developments have continued to disrupt traditional ways of offering financial…
05/10/2022

NDIC: Bank Fraud, Forgeries Amounted to N120.79bn in 2020

The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that the total amount resulting from bank fraud and forgery cases stood at N120.79 billion in 2020. This, however, represented a decline by 40.98 per cent when compared with the N204.65 billion recorded in 2019. Nonetheless,…
03/10/2022

Industrial Hubs Critical in Growing Nigeria’s Economy – FIRS

The Executive Chairman of the Federal Inland Revenue Service, Muhammad Nami, has stated that a beautiful Nigeria is possible with the proliferation of entrepreneurship and industrial hubs. This is contained in his goodwill message to commemorate Nigeria’s 62nd Independence Day Anniversary. According to Nami,…
03/10/2022

Afreximbank Launches Trade Payment Services

African Export-Import Bank (Afreximbank) yesterday announced the commercial launch of the Afreximbank Trade Payment Services (AfPAY) – an intervention designed to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients. According to…
30/09/2022

SEC Unveils New Rules On Shariah Services

The Securities and Exchange Commission, (SEC) has moved to justify its new regulations on Shariah Advisory Services for non-interest capital market products and services. The Commission in a statement, yesterday in Abuja explained that Shariah governance “is crucial considering that compliance with Shariah…
30/09/2022
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