Tag: Money Transfer
-
NIPOST to begin electronic money transfer service
The Nigerian Postal Service (NIPOST) is set to roll out an electronic money transfer service, a new product that would enable customers in both rural and urban communities to transfer and receive money across the country. The Postmaster General of the Federation, Mr Adebisi Adegbuyi, disclosed this when the Indian High Commissioner to Nigeria, Mr…
-
CBN sets limit for daily mobile money transfer at N100,000
The Central Bank of Nigeria (CBN) has set the sum of N100,000 as the maximum amount a bank customer can transfer via mobile phones using shortcodes. In a statement signed by Director, Banking and Payment systems of CBN, Dipo Fatokun, the decision was made because of the risks associated with mobile banking. “Concerns have been…