Tag: Banks
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Banks compelled to refund over N89bn to customers over complaints
The Gov. of Central Bank of Nigeria (CBN) Dr Godwin Emefiele on Thursday disclosed that at the end of June 2021, commercial banks in Nigeria refunded N89.2 billion to customers over complaints. Emefiele made the disclosure during a CBN Fair held simultaneously in Cross River and Akwa Ibom with the theme “Promoting financial stability and…
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CBN releases supervisory framework for payment service banks
The Central of Nigeria (CBN) has released the Guidelines for the Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria. Information obtained in the apex bank’s website indicated that the guidelines was first issued in 2018 and revised in 2020. It stated that the PSBs were expected to leverage on technology to provide services…
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VIDEOS: Bloody Wednesday in Osun as rampaging robbers attack banks, police station, kill five
Some daredevil robbers on Wednesday had a field day attacking commercial banks and police station in Osun State. According to reports, the robbery incident which left five persons dead happened at Ikire and Apomu, Irewole and Isokan local government areas of the state. – Bank robbery incident that left At least, 5 people were reportedly…
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European Commission fines three banks €28.5m for breaking the bloc’s antitrust rules
The European Commission has fined three banks, a total of 28.5 million euros (34.4 million dollars) for breaking the bloc’s antitrust rules. The affected banks include Merrill Lynch of the U.S., France’s Credit Agricole, and Switzerland’s Credit Suisse. Deutsche Bank was not fined because it revealed the existence of the bond-trading cartel, the EU executive…
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IPOB denies plans to attack banks, others to source money for arms
The outlawed Indigenous People of Biafra (IPOB) has dismissed alleged plans by its security outfit, Eastern Security Network (ESN), to attack banks in the Southeast for the purpose of acquire money to purchase arms as false. The group described the report as propaganda by the security agencies to blackmail and dent the global reputation of…
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Minister wades in as banks disconnect telco, customers from accessing USSD services, banking apps
Nigerians on Friday complained bitterly of their inability to use the the Unstructured Supplementary Service Data (USSD) and banking apps. TheNewsGuru.com, TNG observed that the complaints were more severe amongst MTN customers. They were unable to recharge their lines, do banking transactions on their MTN lines using USSD and the bank apps. As expected some…
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FCTA issues seven-day ultimatum to banks to vacate Maitama
The FCT Administration has issued a seven-day ultimatum to banks and other business organiations operating in Maitama area, Abuja to vacate and relocate to the Central Business District or risk being sealed up. The Acting Director, Department of Development Control, Mr Garba Kwamkur, gave the warning when the department visited the popular Gana Street in…
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USSD CODE, CBN, Banks, Telcos and the coming of anarchy – Okoh Aihe
By Okoh Aihe I do not like the word, anarchy. The word serves a full dose of what is happening in our land, a chaotic state of disorderliness where nobody seems to be in charge, where everybody seems to smell imminent perdition and yet unable to do something about it. Where students disappear at school…
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Banks turning female marketers to harlots, sexual slaves – Senator
The Senate, on Thursday discussed a bill seeking to stop employers in the private and public sectors from engaging employable Nigerian graduates as casual workers. The Prohibition of Casualisation Bill 2020 was sponsored by Senator Ayo Akinyelure. Akinyelure noted that casualisation of Nigerian graduates in the Nigerian labour market had become a subject of great…
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CBN directs banks, others, to accept travel documents, refugee ID card for identification
The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to, henceforth, accept Machine Readable Travel Documents (MRCTD) and Refugee Identification Card, as means of identification for financial transactions. The directive was given by Dr Kevin Amugo, Director, Finance Policy Regulation Department, on Wednesday, in Abuja, through a memo to the…