Tag: Banks
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Access Bank: Herbert Wigwe’s Burden – Azu Ishiekwene
Azu Ishiekwene It’s uncertain that he knew the town hall video meeting would leak. When Herbert Wigwe, the Managing Director and CEO of Access Bank hosted a virtual town hall with his staff last week, the only thing on his mind was how the bank would come through the present global health pandemic stronger. His…
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Court strikes out N1.2b ‘debt’ suit against CBN, four banks
A Federal High Court in Lagos has struck out a suit by the Muhammad Shitta-Bey family of Lagos seeking to recover a N1,275,351,167 billion judgment debt from Great Nigeria Insurance Plc, the Central Bank of Nigeria (CBN) and four other banks. The four are: Wema Bank Plc, First Bank Plc, United Bank for Africa Plc…
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FG orders banks to reopen in Abuja, Lagos, Ogun on Monday
Federal Government, Wednesday said banks in Lagos, Ogun and Abuja will begin operations from Monday 4th of May, 2020. Disclosing this, the National Coordinator of the Presidential Task Force on COVID-19, Dr Sani Aliyu, gave conditions and preventive measures to stem the spread of covid-19. He said banks would be allowed to open between 8am…
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Jonathan reacts as FG tracks, demands his account statements from 10 US banks
Former President, Dr. Goodluck Jonathan has reacted to report that the Federal Government has requested his account statements and that of his wife, Patience, from banks in the United States. Nigeria is requesting “all documents concerning any transactions to, from, or for the benefit” of Jonathan and his wife between 2009 and the present day.…
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COVID-19: Banks reduce card spending limit abroad as Nigeria’s dollar earnings dip
As the harsh realities of the novel coronavirus disease [COVID-19] pandemic begin to take consequential toll on global economy, banks are adjusting the value and volume of transactions customers can do with their debit cards abroad as Nigeria’s dollar earnings has also seriously dipped. The lenders, which two years ago, raised their card spending limits…
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How Nigerian Banks have fared in serving customers in COVID-19 era
As the reality of the COVID-19 pandemic fully unfolds, businesses, particularly the banking sector, have perfectly adjusted to ensure continued quality service delivery to their customers nationwide. Vanguard reports When President Muhammadu Buhari on Sunday, March 30 2020, in his much-anticipated nationwide broadcast declared total lockdown in Lagos, Ogun and Abuja as a measure to…
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Banks took N950b loan from CBN in three months
Commercial and merchant banks took cumulative loans worth N949.91 billion from the Central Bank of Nigeria (CBN) within three months, the apex bank’s quarterly economic report has shown. The report released at the weekend showed that the loans came through CBN’s Standing Facilities meant for the lenders to square up their liquidity positions and meet…
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FG, banks lodge 13.9trn with CBN in one month
The Central Bank of Nigeria (CBN) received N13.97 trillion deposits from the Federal Government and commercial banks in 30 days, the apex bank’s economic report released on Monday has shown. Further analysis of the report, which is for the last month of 2019, showed a dip in private sector deposit with the apex bank. It…
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How banks forced us to charging customers for USSD transactions – MTN
Leading GSM network provider, MTN Nigeria Communications Plc, has said it was never its intention to charge banking customers for financial transactions carried out through Unstructured Supplementary Service Data (USSD) on its lines every 20 seconds. Last Sunday, the company came under heavy attacks on social media as a result of text messages it sent…