The Central Bank of Nigeria (CBN) has unveiled plans to release a framework for integration of non-interest window in all its intervention programmes, particularly the Anchor Borrowers’ Programme (ABP) and the Targeted Credit Facility (TCF) to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic[Read More…]
Tag: bank
FirstBank Presents Devices to Lagos State Towards Driving 1 Million Students to e-learning
First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider recently, presented 20,000 units of e-learning devices to the Lagos State government at the State House in Marina, Lagos. The devices are planned for distribution to school children. With the gesture, the Lagos State governor, Babajide Sanwo-Olu said the[Read More…]
Debit Cards & Consumers …A Peculiar Perspective
We would advise objective consideration of this piece, to situate it properly in relation to its purpose; CONSUMERS’ ASSEMBLY would rather that issues of concern serve collective good of all, albeit from the perspective of CONSUMERS, not minding parochial considerations. That also explains our position of inquisitiveness. We would always[Read More…]
Access Bank fires Staff In Oyo Branch Despite CBN Directive
Despite an agreement by the Central Bank of Nigeria and Bankers Committee to suspend the lay-offs in banks across the country due to the adverse impact of the COVID-19 pandemic, Access Bank has continued to dismiss its staff. A man, whose wife worked for a branch of the bank in[Read More…]
CBN returns over N60 billion excess bank charges to customers
The Central Bank of Nigeria (CBN) on Thursday said it has so far recovered over N60 billion from erring banks as excessive charges imposed on customers. The bank also said it has equally returned same amount to the affected customers. This is just as the Apex Bank has announced that[Read More…]
Receiving money transfers in foreign currency is detrimental – CBN
The Central Bank of Nigeria (CBN) says receiving international money transfers in foreign currencies by Nigerians is detrimental to the Naira. Ms Ozemena Nnaji, Director, Trade and Exchange in the apex bank, told the House of Representatives Committees on Diaspora, Banking and Currency, and National Planning at an investigative hearing[Read More…]
WAMCO, Nestle, others exempted from dairy importation ban
The Central Bank of Nigeria (CBN) has approved six companies for the importation of milk and other dairy products. They are FrieslandCampina WAMCO Nigeria; Chi Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria PLC and Integrated Dairies Limited. The approval was contained in a circular issued by[Read More…]
Forex: CBN injects $218.41m, CNY 18m into retail secondary market
The Central Bank of Nigeria (CBN) has injected the sum of 218.41 million dollars into the retail Secondary Market Intervention Sales (SMIS). The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor made this known in a statement in Abuja on Friday. Okorafor said 18 million Yuan was also injected in[Read More…]
How To Block Your Bank Account In Case Of Emergency
*UBA* dial *919*10# from the mobile line linked to your account *Fidelity Bank* dial *770*911# from the mobile line linked to your account *IBTC Bank* dial *909# from the mobile line linked to your account *Zenith Bank* dial *966*911# *First Bank* send Block to 30012 via text message *Union Bank*[Read More…]
Senate probes alleged CBN Non-Remittance of N20 trillion Stamp Duty
The Senate is investigating alleged failure by the Central Bank of Nigeria, CBN, to remit stamp duty of over N20 trillion into the Federation Account. Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani, All Progressives Congress, APC, Kaduna Central, who disclosed this, however, warned against[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]