Banking & Finance
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Dormant Accounts: CBN moves to claim monies in Access, GTB, Zenith, First Bank, Others (See reasons)
The Central Bank of Nigeria (CBN) has recently announced new guidelines aimed at claiming funds from dormant accounts. Dormant accounts refer to…
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Federal Govt bars online banks from accessing customers’ photos, contacts
Loan apps on Play Store will lose their ability to access their users’ contacts or photos from May 31, 2023.…
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Federal Government approves 173 loan apps, bars illegal online banks
The Federal Competition and Consumer Protection Commission has approved 173 digital lending applications to operate in the country. Of the…
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Recirculation of old 500,1000 naira notes: CBN denies report
The Central Bank of Nigeria (CBN) has said that it never issued a fresh directive to commercial banks to obey…
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Supreme Court extends validity of old naira notes
The Supreme Court has ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023. The…
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Court orders CBN, Buhari to stick to February 10th
The Federal Capital Territory (FCT) High Court at Wuse Zone 2, Abuja, has ordered the Central Bank of Nigeria to ensure the…
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FCCPC approves 94 companies as digital money lenders
The Federal Competition and Consumer Protection Commission (FCCPC) has approved the operations of 94 companies as digital money lenders in…
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CBN succumbs, amends cash withdrawal policy, raises weekly Individual, corporate limit
The Central Bank of Nigeria has reviewed upward the limit on cash withdrawals made by individuals and organisations. Ahead of the distribution…
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CBN restricts weekly cash withdrawal for individuals to N100k, N500k weekly for companies
According to a new memo to banks issued on Tuesday and signed by the Director of Banking Supervision, Haruna .B.…
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NFIU flags N150trillion transactions, EFCC tracks politicians
The Nigeria Financial Intelligence Unit has flagged suspicious transactions valued at over N150tn between January and March 2022, according to…
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