Tag: Central Bank of Nigeria
House of Reps demands immediate suspension of CBN’s ATM charges hike
The House of Representatives has demanded the immediate suspension of increase in ATM transaction charges and stoppage of free ATM withdrawals for customers from...
Public outcry trails Banks’ implementation of N100, N500 ATM charges
Banks across Nigeria have started enforcing the new Automated Teller Machine (ATM) transaction fees following a directive from the Central Bank of Nigeria (CBN),...
19.7 million bank accounts are dormant-NIBSS; CBN launches probe
The number of dormant bank accounts in Nigeria is over 19.69 million, according to the industry customer account database released by the Nigeria Inter-Bank...
CBN directs banks to publish details of dormant accounts
Central Bank of Nigeria (CBN) has directed all banks and other financial institutions to publish details of dormant accounts, unclaimed balances, and other financial...
CBN orders Nigerian banks to cut insider loans within six months
Nigeria’s banking regulator, the Central Bank of Nigeria, CBN, has issued a sweeping directive mandating commercial banks to comply with stricter insider lending limits...
CBN imposes N600 charge on every N20,000 withdrawn from another bank’s...
The Central Bank of Nigeria, CBN, has imposed a withdrawal charge of between N100 and N600 for every N20,000 worth of interbank ATM withdrawals.
The...
CBN extends $25,000 weekly forex sales to BDCs until May 30
The Central Bank of Nigeria has extended the temporary access granted to Bureau de Change operators for purchasing foreign exchange from the Nigerian Foreign...
Alleged procurement fraud: CBN’s vehicle contract awards followed due process, says...
An Economic and Financial Crimes Commission (EFCC) witness, Salawu Gana on Monday, told an Abuja High Court that the contract awards for vehicles purchased...
CBN announces new compliance department, projects 4.17% GDP
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has announced plans to establish a Compliance Department by February.
Cardoso made the...
CBN sanctions nine banks for failing to dispense cash through ATMs
The Central Bank of Nigeria (CBN) said it had sanctioned some Deposit Money Banks (DMBs) for failing to make Naira notes available through automated...
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