Banking & Finance
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CBN takes stern stance against four banks as debt profile of Directors hit N122.7 billion
The Central Bank of Nigeria (CBN) has taken a stern stance against potential conflicts of interest within the banking sector,…
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Central Bank lifts cash deposit restriction on domiciliary accounts, allows $10k withdrawals daily
The Central Bank of Nigeria (CBN) issued a press statement on June 18, 2023, providing further guidance to Deposit Money…
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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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