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CBN National News Nigeria Sunday Salam-Alada

Electronic fraud in banking hits N6.1trn by 2021 – CBN

Mr Sunday Salam-Alada, Director, Consumer Protection Department, Central Bank of Nigeria (CBN) has said electronic fraud losses in the banking system are projected to reach N6.1 trillion by 2021. Salam-Alada disclosed this at the ongoing workshop for Business Editors and Finance Correspondents, organised by Nigeria Deposit Insurance Corporation (NDIC) in […]

First Bank wins 32nd CBN All Nigeria Financial Institutions Cup
CBN First Bank Football Club Football Lagos SEC Securities and Exchange Commission Sport

First Bank wins 32nd CBN All Nigeria Financial Institutions Cup

CBN, Ibadan branch Controller, Mrs. Ajuma Modojemu (middle) signing the match ball before the kick of the CBN/Financial Institutions Football Competition final at the Lekan Salami Stadium, Ibadan…at the weekend. The oldest bank in the country, First Bank Football Club of Lagos at the weekend defeated Securities and Exchange Commission […]

Police: How we busted cyber fraud cartel
CBN Dan Nkem Okoro FCIID IMF National News Nigeria

Police: How we busted cyber fraud cartel

Nigeria Police The Force Criminal Investigation and Intelligence Department (FCIID) in Alagbon, Ikoyi, yesterday, said forensic experts aided detectives in the clampdown on a transnational cyber fraud syndicate that specialised in cloning documents and fleecing corporate bodies and high networth individuals of millions of United States (US) dollars. Commissioner of […]

Reps may query Yusuf’s suspension by NHIS council
CBN Metro National Health Insurance Scheme News NHIS Nigeria

Reps may query Yusuf’s suspension by NHIS council

Executive Secretary of NHIS, Prof. Usman Yusuf The governing council of the National Health Insurance Scheme (NHIS) yesterday announced the indefinite suspension of the executive secretary, Prof. Yusuf Usman. The decision, however, could face a backlash from federal lawmakers. Spokesperson of the House of Representatives, Abdulrazak Namdas, expressed surprise over […]

Stable exchange rate best choice for Nigeria – Emefiele
Business Business News CBN Central Bank of Nigeria dollars Mr. Godwin Emefiele Naira Nigeria Stock Exchange

Stable exchange rate best choice for Nigeria – Emefiele

[FILE] The Guardian Economic Personality of the Year 2017, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele addressing the audience during the award in Lagos at the weekend. PHOTO: AYODELE ADENIRAN<br /> The Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, says maintaining stable exchange rate to […]

CBN, IMF, FMDA harp on economic reforms
Business Business News CBN FMDA Godwin Emefiele IMF

CBN, IMF, FMDA harp on economic reforms

Central Bank of Nigeria The Central Bank of Nigeria (CBN), International Monetary Fund (IMF), and Financial Market Dealers Association (FMDA), were unanimous in calling for a rule-based financial system, compliance and support for the nation’s economy to ensure overall stability.   CBN Governor, Godwin Emefiele, said the adoption of risk-focused […]

Mobile drives payment as instant pay users hit 11m
Business CBN Christabel Onyejekwe Communications Mohammed Rudman NIBSS

Mobile drives payment as instant pay users hit 11m

A PoS terminal and mobile phone There are indications that the country’s electronic payments ecosystem is today driven by mobile means of communications as the number of Instant Pay users in the system is put at 11million with mobile and USSD accounting for 77 percent of this figure, Nigeria CommunicationsWeek […]

CBN upbeat on resolution of MTN’s $8.1b repatriation saga
CBN Godwin Emefiele MTN National News Nigeria

CBN upbeat on resolution of MTN’s $8.1b repatriation saga

Central Bank of Nigeria Opts for stability, retains 26-month rates Central Bank of Nigeria (CBN) Governor Godwin Emefiele yesterday said he was optimistic that the alleged illegal $8.134 billion repatriation dispute involving MTN and its lenders would be resolved amicably. The regulator had last month ordered the South African telecommunications […]

INEC to deal with ‘see and buy’ offenders in today’s Osun governorship poll
CBN INEC National News Nigeria Olusegun Agbaje

INEC to deal with ‘see and buy’ offenders in today’s Osun governorship poll

PHOTO: BBC • Releases Complaints Phone Lines The Independent National Electoral Commission (INEC) yesterday said it had perfected plans with the security agencies to decisively deal with anyone engaging in any illicit act, particularly the notorious act of “see and buy,” as it is called in local parlance, in today’s […]

CBN withdraws Skye Bank’s operating license
Breaking News CBN National News Nigeria Skye Bank Skye Bank’s operating license

CBN withdraws Skye Bank’s operating license

Skye Bank The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc with immediate effect. This was declared by the apex bank Governor Godwin Emefile on Friday evening in Lagos. Meanwhile, Polaris Bank has been established to assume ownership of the assets and liabilities of […]

CBN, government, financial institutions promise to tackle MSMEs’ challenges
Business Business News CBN Central Bank of Nigeria MSME

CBN, government, financial institutions promise to tackle MSMEs’ challenges

[FILE PHOTO] Central Bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria January 26, 2016. REUTERS/Afolabi Sotunde/File Photo The Federal Government, Central Bank of Nigeria (CBN) and other financial institutions in the country yesterday in Abuja said challenges confronting Micro, Small and Medium Enterprises […]

Operators seek fiscal policies to aid real sector performance
CBN Industry LCCI Muda Yusuf

Operators seek fiscal policies to aid real sector performance

Muda Yusuf, LCCI Boss. Though the Manufacturing Purchasing Managers’ Index (PMI) for August stood at 57.1 index points, indicating further expansion in the manufacturing sector for the 17th consecutive month, stakeholders in the private sector have urged for fiscal policy measures that check unintended consequences on cost of operations of […]

Banks in massive rip-off of customers with essential information
bank Business Business News CBN Customer data information

Banks in massive rip-off of customers with essential information

Nigeria banks have surreptitiously used their bargaining strength (knowledge) against the “half-informed” customers, numbering in tens of millions today. For example, how many times in a month will a savings account customer make withdrawals and lose the right of interest rate payment? This is one of the least things the […]