FG Orders State MDAs to Stop Accounts in Commercial Banks   As part of its efforts to enforce the Treasury Single Account (TSA) policy, the Federal Government has instructed state-based Ministries, Departments, and Agencies (MDAs) to immediately discontinue operating accounts with commercial banks. This was according to a...

8 Important Steps To Secure Your Bank Account This Holiday   One of the factors limiting financial inclusion among the unbanked is the perception that banks are not safe to store money. This concern increases exponentially with digital banking platforms as the suggested mode of banking. News...

CBN Gives Banks 30-day Deadline To Close Accounts Without BVN   The Central Bank of Nigeria (CBN) has given banks and other financial institutions a 30-day timeline to close accounts without Bank Verification (BVN). Data from the Nigeria Inter-Bank Settlement System (NIBSS) showed that 57.39 million customers’...

Reps Demand Tax Records, Documents Of NNPC JV Accounts   The House of Representatives has demanded the tax records and other relevant documents on joint venture (JV) businesses and production-sharing contracts of the Nigerian National Petroleum Corporation (NNPC) from 1990 to date from the Federal Inland...

In Six Months, NNPC Remitted $2.7bn To Accounts With CBN   The Nigerian National Petroleum Company Limited remitted a total of N2.7bn into its accounts with the Central Bank of Nigeria from January to June this year, a document on NNPC remittances to CBN seen in...

Reps Probe N1.2trn Unclaimed Funds In Banks   The House of Representatives’ Ad Hoc Committee on Unclaimed Funds in the Nigerian Commercial Banks and Infractions by the Central Bank of Nigeria has begun investigation of funds stuck in commercial banks due to the alleged failure to...