•Banks The Central Bank of Nigeria and the Nigerian Communications Commission have issued a final directive to Deposit Money Banks and Mobile Network Operators to resolve the protracted N250bn Unstructured Supplementary Service Data debt dispute. CBN and NCC are both regulatory agencies of the federal government, reports The PUNCH. The directi...
•CBN Governor Olayemi Cardoso There is no end in sight yet to the low cash supply by commercial banks as customers face increasing difficulty with cash withdrawal. There are indications that commercial banks have also limited cash withdrawal on Automated Teller Machine (ATMs) to N20,000 for multiple account holders, reports Daily Trust. The ca...
The recent spot checks conducted by the Central Bank of Nigeria (CBN) on Deposit Money Banks (DMBs) have shown that much of the cash supplied to the banks goes to VIP customers, leaving the majority of customers with too little to meet their demand, it was gathered yesterday. The apex bank is said to have […]
The National Identity Management Commission, NIMC, and banks are trading blame over the frustrating experiences of Nigerians with the National Identity Number, NIN, modification process. Bank customers who spoke to our correspondent about the difficulties they experienced in consummating banking transactions said that the modifications made to...
•ATM Days after the Central Bank of Nigeria ordered Deposit Money Banks to guard against artificial cash scarcity in the country, findings have revealed that the trend still persists in some parts of the country. In a circular dated November 29, jointly signed by Acting Directors Solaja Olayemi (Currency Operations) and Isa-Olatinwo Aisha (Bra...
•Naira notes Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day. A survey conducted by our correspondent yesterday revealed that banks, including Guaranty Trust Bank and Zenith Bank, have increased the withdrawal limit, enhancing it from N5,000 that was allowed...
•Naira notes In a scene reminiscent of a desperate rush for limited supplies, frustrated customÂers overwhelmed the halls of several banks across the city this week, clamouring for cash as the holiday season approaches. Many are unable to withÂdraw funds or access their acÂcounts due to widespread cash shortages, and the situation has reached ...
Many cargo owners have expressed anxiety over lingering banking system upgrade even as findings revealed that some banks are still sending messages to their customers about ongoing upgrade. In a chat with our correspondent, the National President of Save Nigeria Freight Forwarders Importers and Exporters Coalition, Chief Chukwu Osita, disclose...
•NYSC members The federal government has lifted the ban restricting the posting of members of the National Youth Service Corps to the public sector, allowing for corpers to now be posted to private sector organisations, including banks and oil and gas companies. According to a memo issued by the Minister for Youth Development, Ayodele Olawande...
•Some Nigerian banks There appears to be no respite yet for the Nigerian banking public following the upgrades being carried out by some deposit money banks (DMBs) in recent times. Despite recent assurances by the institutions, Nigerians have continued to express frustration over the lingering glitches in the banks’ operations with the many cu...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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