Tag: Nigerian Banks
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NCC gives new directive to banks over USSD charges on customers’ airtime
The Nigerian Communications Commission (NCC) on Tuesday directed all banks to stop debiting USSD transaction charges from customers’ bank accounts, with effect from Tuesday, June 3, 2025.
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Nigerian banks increase SMS alert charges
Nigerian commercial banks have announced plans to increase SMS transaction alert fee from ₦4 to ₦6, effective Thursday, May 1, 2025.
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Ashimolowo shares how he lost N200m In bank shares
Matthew Ashimolowo, the Global President of the Kingsway International Christian Centre, has disclosed how he lost about 200 million in bank shares through investments in Nigerian banks when he could have invested the same amount in real estate.
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CBN sends strong message to banks rejecting mutilated naira notes
The Central Bank of Nigeria (CBN) on Thursday warned sternly Deposit Money Banks (DMBs) rejecting dirty or mutilated Naira notes. In a statement signed by the acting director of the currency operations department, Solaja Olayemi, the apex bank emphasized that strict penalties will be enforced against banks that fail to accept these notes from the public. Olayemi…
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NFIU exposes how fraudsters sent over €36bn fake wire transfers to Nigerian Banks from abroad
In an exclusive report, the Nigerian Financial Intelligence Unit (NFIU) has unveiled how fraudsters petitioned banks and the Central Bank of Nigeria (CBN), accusing them of criminally converting €36bn wired by their foreign partners. The NFIU, in its reports titled ‘Advisory On Fraudulent Petitions Involving Tracing And Recovery Of Electronic Wire Transfers From Foreign Banks…
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Nigerians groan as banks, PoS operators trade blame over cash scarcity
Some residents of Ibadan have decried the persistent cash scarcity, even asamidst banks and Point of Sales (PoS) operators are trading blames over the situation. Describing their experiences in separate interviews in Ibadan on Sunday, the residents said not so much had changed from what the situation was the last yuletide.
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Nigerian Banks, Companies fined N125m for failing to file audit reports
At least eight banks and 18 other listed companies in Nigeria have been collectively fined N125 million for their failure to submit their 2022 audited financial statements and quarterly reports for the first half of 2023, as mandated by the Nigerian Exchange (NGX). Among the banks that faced sanctions were Unity Bank, FBN Holdings, Access…
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Camera captures bank workers scale fence to evade aggrieved customers
A video has surfaced online of some officials of a Nigerian bank scaling a barbed wire fence to escape angry customers. Varied reactions by Nigerians have trailed the scarcity of the new Naira notes which were introduced last year. Numerous videos have shown some Nigerians waiting hours on long queues to use the ATM, while…
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Gbajabiamila frowns at ‘hidden charges’, ‘corporate prostitution’ in Nigerian banks
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila, has expressed concern over the way banks charge customers indiscriminately during transactions. TheNewsGuru.com, TNG reports that Gbajabiamila said this when he hosted the Board and Management of the Standard Chartered Bank, led by the Chief Executive Officer, Mr Lamin Manjang, on Monday in Abuja. The…
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Court orders freezing of Shell’s accounts in 20 Nigerian banks
In a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted from AITEO Eastern E & P Company Ltd., a Federal High Court sitting in Ikoyi, Lagos has granted an interim injunction directing 20 commercial banks to freeze the accounts of Shell Petroleum Development Company of Nigeria…