Tag: Transactions
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CBN gives directive to start monitoring all PoS transactions
The Central Bank of Nigeria (CBN) has ordered payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed a 30-day deadline to PSPs to regularise with Payment Terminal Service Aggregators (PTSA).…
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Transactions on NSE Rise by 54% in February
Data from the Nigerian Stock Exchange (NSE) showed that as at February 28, 2019, total transactions at the nation’s bourse increased by 54.06 percent from N122.08 billion recorded in January 2019 to N188.08 billion in February 2019. The performance of the current month when compared to the performance of the same period (February 2018) in…
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Nigeria’s e-payment transactions hit N56.85trn
Report from the Nigerian Interbank Settlement System (NIBSS), have indicated that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September, 2018. The report showed an increase of N16.4 trillion when compared to the N40.45 trillion that was recorded in the corresponding period of 2017. The report showed that most of…
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Nigerian banks record N1.6trn ATM transactions in three months
The National Bureau of Statistics (NBS) has revealed that transactions valued at N1.6 trillion were recorded in Q2 2018 by banks operating in Nigeria via the Automated Teller Machine (ATM). In terms of volume, a total of 217.4 million transactions were carried out at various ATM points across the country in the period under review.…
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Banking sector records N29.44trn transactions in Q4 2017- NBS
The National Bureau of Statistics (NBS) says A total volume of 461,980,541 transactions valued at N29.44 trn was recorded in Q4 2017 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. The NBS said this in a report on “Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels, Deposits and Domestic…
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Customers embrace FinTech as banking hall transactions dip by 25%
The introduction of Financial Technology (FinTech) in the efficient service of bank customers has reduced physical transactions in the banking hall by over 25 per cent, the Nigeria Interbank Settlement System (NIBSS) has said. TheNewsGuru.com reports that the NIBSS provides the infrastructure for automated processing, settlement of payments and fund transfer instructions between banks and…
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Fraud: UBA bans pornography, betting, other transactions with ATM card
The United Bank for Africa, UBA, has place an indefinite ban on the use of its ATM card for certain transactions. These includes jewellry, pornography, dating and escort services betting. This was revealed in a statement by the bank to all its esteemed customers. The statement reads in part: “We wish to inform all cardholders…
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See short bank codes to ease your transactions this weekend
Its another weekend and as expected, commercial banks won’t open for business. However, there is really no need to worry as TheNewsGuru.com brings you a compilation of short bank (USSD) codes to make your transaction more faster, efficient and convenient using your mobile phone. Gone are the days when people have to go to banks…
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FMDQ securities records N20. 99trn transactions in two months – Report
The FMDQ OTC Securities Exchange recorded N22. 99 trillion worth of transactions in fixed income and currency markets in the first two months of 2017. Market Turnover Report from the company obtained by the newsmen in Lagos on Monday indicated that the value was against N13.92 trillion recorded in the corresponding period in 2016. A…