Tag: Deposit
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NDIC increases maximum deposit insurance coverage for failed banks
The Nigeria Deposit Insurance Corporation (NDIC), has reviewed upward the maximum deposit insurance coverage for depositors of all licenced deposit taking financial institutions in event of bank failure. Deposit insurance is the government’s guarantee that an account holder’s money at an insured bank is safe up to a certain amount.
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House of Reps directs CBN to suspend sale of Polaris Bank
The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the sale of Polaris Bank Plc immediately. The House said the suspension should be until the CBN deposit Insurance Corporation and the Asset Management Corporation of Nigeria concluded all processes for open, transparent, and competitive bid process.
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Guide to depositing on Nigerian sportsbooks
Nigeria is one of the top three countries with the most lucrative sports betting markets in Africa. As expected, the jurisdiction will be home to several sportsbooks accepting bets from punters. So, you are spoilt for choice when betting on sports online in Nigeria. However, it is essential that you only wager at legitimate and…
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Sports betting in Nigeria with ILOT NG
With an estimated 60 million Nigerians actively involved in sports betting, and hundreds of betting sites operating in the country, sports betting is experiencing a massive surge in Nigeria, and many Nigerians are benefitting hugely from the industry. The country has over 200 million people, supplying the population to feed the betting companies. Nigerians are…
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CBN orders instant refund of dispense errors at banks’ ATM
The Central Bank of Nigeria (CBN) has ordered quick refund of failed transactions and dispense errors at banks’ Automated Teller Machine (ARM). In a circular by its spokesman, Isaac Okorafor, titled: “CBN Revises Timelines for Dispense Errors, Refund Complaints”, on Sunday, the apex bank listed how the banks should quickly resolve the problems and resolve…