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 Federal Competition and Consumer Protection Commission (FCCPC) has warned financial institutions against continuing disruption in online banking services across Nigeria. A statement by the commission’s Executive Vice Chairman/ Chief Executive Officer, Tunji Bello today, said it was deeply concerned by the disruption which has hindered cust...
Not less than five banks are rounding off preliminary documentation and approval processes to raise more than N1 trillion in the second cluster of the capital raising under the ongoing banking recapitalisation. Multiple sources yesterday confirmed that the banks have reached advanced stages in their pre-offer processes, with the two largest ba...
At the backdrop of economic gloom and general hardship being faced by the populace, banks operating in Nigeria are declaring huge earnings and profits. Also the surge in their earnings comes amidst a significant decline in banks’ credit to the private sector, the engine of growth in an economy, reports Vanguard. Our findings from the […...
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