Tag: Banking

Nigerian women in banking: The most powerful in 2021

When it comes to exerting influence in the banking industry, the Nigerian women of today are no pushovers.  Through sheer force and zeal, they have risen through the ranks and are presently seated at the table where key decisions that affect the industry are made.  Here are the women who[Read More…]

CBN introduces N6.98 per transaction for USSD services

The Central Bank of Nigeria has introduced new charges for customers who use the Unstructured Supplementary Service Data services. The directive taking effect from Tuesday means banks will charge a flat fee of N6.98 per transaction for USSD services. It was part of the resolutions met as banks and telecommunication[Read More…]

New S&P Ratings name Nigeria among other countries at risk of 3-year banking system depression

Six countries namely Nigeria, Tunisia, Kenya, South Africa, Morocco and Egypt have been projected to face high risks in their banking systems for at least three years, according to S&P Global Ratings. In its latest report dated November 17, 2020, the financial rating agency, Standard & Poor’s (S&P) identified four[Read More…]

The Central Bank of Nigeria Says Banks Will Pay a Fine of N10,000 For Every Money Transfer That Exceeds Four Minutes

The Central Bank of Nigeria (CBN) says banks will pay a fine of N10,000 for every money transfer that exceeds four minutes. The apex bank made this known in a circular, ‘Circular on the regulation on instant inter-bank electronic funds transfer services in Nigeria’ issued to all deposit money banks,[Read More…]

Jaiz Bank Plc Denies False SMS Indicating Multiple Accounts With Different Banks

The management of Jaiz Bank in a statement has said their attention has been drawn to a recent SMS indicating that you can open a Jaiz Bank account with another Bank. The statement issued reads, “We want to use this medium to appeal, to disregard such message as it is[Read More…]

[Opinion] Is The CBN Governor Stupid

By Ross George I have never heard of a thing more stupid or embarrassing than a governor of a central bank of Nigeria not understanding how revenue from crude oil is administered. Sanusi Lamido exposed his ignorance and shallowness after days to trying to snub the superior argument of smarter[Read More…]

GTB Takes Ownership Of Kenya’s Fina Bank

Kenya’s Fina Bank has been renamed Guaranty Trust Bank (GTB), following a 70 percent acquisition by the Nigeria-based lender, governor of Central Bank of Kenya (CBK), Prof Njuguna Ndung’u, said. “The approval for acquisition takes effect as from November 8, 2013. The resulting institution shall be called Guaranty Trust Bank[Read More…]