CBN orders Banks to suspend charges on Deposits till September The Central Bank of Nigeria (CBN) has ordered deposit money banks and financial institutions to suspend processing fee on deposits till September 30, 2024. In a circular, the apex bank ordered that financial institutions suspend processing charges imposed[Read More…]
NDIC Raises Depositors Coverage for Banks from N500,000 to N5m The Nigeria Deposit Insurance Corporation has announced the increase of the Maximum Deposit Insurance Coverage for banks operating within the country. At a media briefing held in Abuja, NDIC’s Managing Director, Bello Hassan, revealed the new coverage benchmarks. The[Read More…]
Banks are in good stead to meet CBN’s recapitalisation target – ACAMB The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation[Read More…]
Banks, Fintechs harps on ways to tackle e-fraud Experts and stakeholders in the financial service sector have called for the integration of multiple identity system into one to easily detect and track perpetrators of cybercrime. They made this call last week at the Cyber Awareness week. Speaking at the[Read More…]
NDIC Commences N16bn Payment To 20 Defunct Banks’ Stakeholders The announcement comes after impressive recoveries from debtors and realisation of assets of banks in liquidation, the corporation says. The Nigeria Deposit Insurance Corporation (NDIC) has announced the declaration of N16.18 billion in liquidation dividends to depositors, creditors, and[Read More…]
Banks behind 70% jump in greenwashing incidents in 2023 -report The number of instances of greenwashing by banks and financial services companies around the world rose 70% in the past 12 months from the previous 12 months, a report on Tuesday showed. European financial institutions accounted for most of[Read More…]
NGX RegCo Urges Banks To Embrace ESG Following Nigeria’s commitment to adopt the International Sustainability Standards Board (ISSB) standards, the chief executive officer of NGX Regulation Limited (NGX RegCo), Tinuade Awe has emphasised the importance of banks swiftly integrating environmental, social, and governance (ESG) principles into their business strategies.[Read More…]
The Federal Government (FG) has said Nigerian banks and other financial institutions can now issue debit cards that can double as national identity cards at no extra cost. The Minister of Communications and Digital Economy, Isa Pantami, made this known on Wednesday, during a press briefing following the valedictory Federal[Read More…]
