Category: Banking
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FG set to go after stockpile of foreign currencies in domiciliary accounts
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun has disclosed the intentions of the federal government to go after the stockpile of foreign currencies in domiciliary accounts.
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Why people are hoarding Naira notes – CBN Gov
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has said apprehension surrounding the end date of the Naira redesign policy triggered widespread hoarding.
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CBN orders banks to suspend charges for all cash deposits
The Central Bank of Nigeria (CBN) has ordered banks to suspend charges for all cash deposits above N500,000 for individuals and N3,000,000 for corporates.
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CBN denies banks failed stress test
The Central Bank of Nigeria (CBN) has denied some licensed commercial banks in the country failed the apex bank’s Capital Adequacy Ratio (CAR) test for international authorisation.
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Why there is scarcity of Naira notes – CBN
The Central Bank of Nigeria (CBN) has opened up on the prevailing scarcity in the supply of Naira notes.
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NDIC to pay N16.18bn liquidation dividends of 20 failed banks
The Nigeria Deposit Insurance Corporation (NDIC) says it is prepared to conduct 100 per cent liquidation dividend payments worth N16.18 billion for depositors of 20 failed banks.
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CBN alerts public to fake Naira notes in circulation
The Central Bank of Nigeria (CBN) has alerted the general public to the circulation of counterfeit banknotes, especially higher denominations.
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CBN told to ease BVN registration
The Chief Executive Officer of Arvofinance, Mr Ayotunde Bally, has urged the Central Bank of Nigeria (CBN) to to simplify Bank Verification Number (BVN) registration and make it more accessible for people in rural areas.
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BVN, NIN: Sanction banks, not customers – Expert urges CBN
A Financial Expert, Mr Okechukwu Unegbu, has urged the Central Bank of Nigeria (CBN) to sanction banks that allowed customers to operate accounts without their BVN and NIN. Unegbu, a past president of the Chattered Institute
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ICYMI: Merger, acquisition of banks coming soon in Nigeria
Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) has disclosed plans to implement a new round of banking recapitalisation for Deposit Money Banks (DMBs) in the country.