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in BusinessCBN Raises ATM Card Fees by 50% — Nigerians to Pay ₦1,500 for New and Replacement Cards
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The Central Bank of Nigeria (CBN) has announced a 50 percent increase in the cost of issuing and replacing ATM debit and credit cards, raising the fee from ₦1,000 to ₦1,500. The adjustment, which affects customers across commercial banks in Nigeria, is part […] More
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in Big Story
BREAKING: Central Bank of Nigeria Bans Dollar Payouts — Diaspora Remittances to Be Paid Only in Naira from May 1
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow In a sweeping foreign exchange reform, the Central Bank of Nigeria (CBN) has announced that all diaspora remittances into Nigeria will no longer be paid in US dollars or any foreign currency, mandating exclusive payout in naira effective May 1, 2026. The directive, […] More
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in Business
Nigeria’s Forex Reserves Break Six-Year Record, Soar Above $45bn as CBN Strengthens FX Position
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Nigeria’s foreign exchange reserves have surged to a historic six-year high, crossing the $45 billion mark for the first time since 2019, according to the latest figures released by the Central Bank of Nigeria (CBN). Fresh CBN data shows that the reserves now […] More
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in BusinessCBN Unveils New ATM Guidelines: Instant Refunds, Tougher Security, and Stricter Compliance Rules
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The Central Bank of Nigeria (CBN) has released a new set of draft guidelines for Automated Teller Machine (ATM) operations, introducing sweeping changes aimed at improving service quality, security, and consumer protection across the country’s banking sector. According to the draft document, the […] More
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CBN Moves to Strengthen Cashless Economy, Pegs Individual’s Daily Withdrawals at 100k, and 500k Weekly
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow In new initiatives aimed at strengthening its cashless economy policy and streamline banking operations, the Central Bank of Nigeria (CBN) has announced new cash-out limits for agent banking transactions. This directive, effective immediately, imposes caps on withdrawals for both customers and agents to […] More
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The CBN-Reset: Will The Reform Go All The Way?
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Of recent, the debate has been about the Central Bank of Nigeria’s (CBN) intention to redesign Nigeria’ s National currency, the Naira, and reprint the three largest denominations and calling in the old notes for cancellation. The debate, essentially, has been about whether […] More
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Delta Government to Introduce Property Tax to Enhance Revenue
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Property owners in Delta State would soon start paying taxes on their choice properties as the government moves to introduce property tax in urban areas. This is part of measures by the state government to boost its revenue base. Charles Aniagwu, the state […] More
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Remarks by The Secretary to the Govt of the Federation/Chairman of the PTF on COVID-19 at the National Brief of Monday 18th May, 2020
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow I welcome you to the National Briefing by the Presidential Task Force (PTF) on COVID-19 for Monday, 18th May, 2020.2.Today’s briefing is significant as it provides us an opportunity to assess progress made in the first phase of our three-pronged strategy and communicate […] More
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Conditions for IMF’s $3.4 billion loan to Nigeria
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Nigeria’s $3.4billion IMF loan comes with many charges, fees, surcharges and interest of between two to three percent per annum, and further devalues the Naira to N389.976/USD as against CBN’s N360/USD. As expected the International Monetary Fund, IMF, yesterday approved Nigeria’s application for […] More
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in NewsCourt Orders Payment Of $793.2m Hidden In Seven Banks
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The Federal High Court in Lagos has granted an interim order for seven commercial banks in Nigeria to remit a total of $793,200,000, allegedly hidden with them in violation of the Constitution and the Treasury Single Account (TSA) policy of the Federal Government. […] More
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Nigeria: Still Investors’ Haven
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow Despite the lull in economic activities due to lack of clear policy direction and the delisting of Nigerian bonds by JP Morgan, the Central Bank and financial experts insist that the economy remains attractive to foreign investors To many Nigerians, the nation’s economy […] More
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Unity Bank Repositions for Growth
Follow ( 0 Followers ) X Follow E-mail : * Follow Unfollow The management of Unity Bank says it is set to reposition the financial institution to underpin Nigeria’s growth even as Henry Semenitari, its managing director, MD, resigned last week. This is after a successful recapitalisation and re-branding exercise that evolved the bank into […] More
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