Tag: Banks
-
CBN unveils list of licensed Deposit Money Banks in Nigeria
The Central Bank of Nigeria (CBN) has released the latest update comprising 44 licensed deposit money banks across the nation. This announcement was made public through a comprehensive list published on the CBN’s official website, marking Tuesday as the disclosure date. As per the CBN’s documentation, a total of seven banks, namely Zenith Bank, Access…
-
BVN, NIN: Banks close over 2 million accounts in Nigeria
The first quarter of 2024 Q1’24 has seen Nigerian commercial banks close at least 2 million bank accounts across the country. It was gathered that the move was aimed at eradicating questionable accounts, particularly as some customers failed to comply with regulatory orders on the linkage of their accounts to the National Identity Number, NIN.
-
NDIC pays over N1.7bn to customers of closed banks
Nigeria Deposit Insurance Corporation (NDIC) says it has paid insured sum of over N1.7 billion to customers, following the revocation of licenses of Microfinance Banks (MFBs) and four Primary Mortgage Banks (PMBs). Mr Bello Hassan, Managing Director/Chief Executive Officer, NDIC, said thi
-
Fidelity, Zenith, Access made the list of most capitalized banks in Q3 2023
Leading financial institution, Fidelity Bank, has been listed as one of most capitalized banks in Nigeria based on Q3 2023 financial results. According to an article published in Thisday newspapers, the bank reported a capital base of N410.75 billion as of September 2023 against N314.3 billion in 2022. Also featuring on the list are Zenith…
-
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
-
CBN moves to increase capital base of banks
The Central Bank of Nigeria, CBN, says that Nigerian banks were not adequately capitalised to meet the need of a $1 trillion economy which the current administration was aiming to achieve, hence the need to increase the capital base of banks in the country. CBN Governor, Dr Olayemi Cardoso, spoke at the 2023 Bankers’ Dinner…
-
Kano at a standstill as banks, offices, power sectors shut down over strike
The Nigeria Labour Congress, NLC, Kano State chapter has joined the nationwide warning strike with the shutting down of government offices and other critical sectors. It was gathered that as early as 5 a.m. on Tuesday morning, the labour union were on ground to carry out enforcement. The State Vice Chairman of the union,…
-
NLC warning strike: Banks, Aviation, Electricity Workers, others shut services
Following the two days warning strike called by the Nigeria Labour Congress (NLC), Banks, electricity and aviation workers, and other sectors of the Nigerian economy have shut their doors against customers in compliance with the two days warning strike called by the Nigeria Labour Congress (NLC).
-
Identification process: CBN directs banks to obtain customers social media handles
To further deepen the identification process in the banking system, the Central Bank of Nigeria has directed Financial Institutions to obtain the social media handle, e-mail addresses, telephone numbers, residential addresses of customers. The apex bank revealed this in its newly released ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document. According to CBN,…
-
Relief for Nigerians as banks confirm receiving enough cash, load ATMs
The Central Bank of Nigeria has released more old notes to Deposit Money Banks as the apex bank steps up efforts to flood the economy with more cash after a prolonged cash crunch that has made life difficult for millions of Nigerians and residents. TheNewsGuru.com, (TNG) recalls the apex bank had last Thursday begun the…