The Central Bank of Nigeria (CBN) has issued a warning to Deposit Money Banks (DMBs) and authorised forex dealers, advising them against rejecting old and lower dollar denominations from customers in the country. According to the apex bank, the directive became necessary as it had been inundated with complaints from customers after it conducte...
•House of Representatives Members of the House of Representatives today asked the Central Bank of Nigeria (CBN) to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent cybersecurity levy, describing it as “ambiguous”. The development was in response to a motion on the urgent need to halt and mod...
•CBN Building The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country. The list, which was made public on the CBN’s official website yesterday, provides insights into the banking landscape in Nigeria. Banks with international authorisation include Access Bank Limited, Fidelity ...
•A Point-of-Sales (PoS) machine The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated yesterday, Monday May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile [&hel...
•CBN Governor Yemi Cardoso The Centre for the Promotion of Private Enterprise (CPPE) on Wednesday said the Central Bank of Nigeria (CBN) adjusted the exchange rate 28 times in the first quarter of 2024, thus pervading the nation’s trade dynamics with uncertainty and unpredictability. In a statement signed today by the CPPE Chief Executive Offi...
•CBN headquarters, Abuja Some bank customers have expressed panic as the Central Bank of Nigeria bans mobile money operators including fintech firms from onboarding new customers. However, the Bank Customers Association of Nigeria backed the CBN directive, reports The PUNCH.A The new directive will affect fintech companies such as OPay, Palmpa...
•Former CBN Governor Godwin Emefiele (Right) in court A former Director of Information Technology of the Central Bank of Nigeria (CBN), Mr. John Ayoh, has explained how he collected $600,000 allegedly for contract gratification for the embattled ex-apex bank governor, Mr. Godwin Emefiele. Ayoh, while being led in evidence by the Economic and F...
•Emefiele in court An Ikeja Special Offences Court heard yesterday how the former Governor of Central Bank of Nigeria (CBN) Godwin Emefiele on different occasions used his former dispatch rider, who later became a member of the apex bank’s staff, to collect $3 million cash in tranches. The CBN employee, Monday Osasuwa, made the disclosure [&he...
•CBN Governor Yemi Cardoso Members of staff of the Central Bank of Nigeria (CBN) have disclosed they are living in constant fear over the ongoing sacking since the appointment of Dr Olayemi Cardoso as the governor. The CBN workers who spoke with our correspondent said no department can be spared in the continued sacking ravaging […]
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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