‎SPECIAL REPORT: Cash Crunch, Exorbitant POS Charges in the Face of ATM Shortages By Economic Confidential Crew The banking system in Nigeria has undergone significant transformations since the 1990s. Gone are the days of tedious paperwork and long queues that usually snaked from the bank's...

ATM Transactions Drop by 13% To N28.2 trn   The value of Automated Teller Machine (ATM) transactions fell year-on-year (YoY) by 13.6 percent to N28.2 trillion in 2023 from N32.65 trillion in 2022. The Central Bank of Nigeria, CBN, disclosed this in its March 2024 statistical bulletin. The...

Naira: Christmas Shoppers Condemn Scarcity   About a week to Christmas Day, shoppers have condemned the worsening naira scarcity, with many of them expressing frustration over their inability to make vital purchases for the Yuletide celebration. Findings on Sunday revealed that banks were still rationing cash over-the-counter,...

In Six Months, Banks Lose N6bn to Fraud – Report Mobile fraud, computer/web fraud, and Point of Sale fraud cases made Nigerian banks to record 24,232 fraud cases in the first six months of 2023, a report by FITC has disclosed. The report was titled, “Reports...

New Naira Notes In Huge Circulation - CBN   The Central Bank of Nigeria has said there is a huge circulation of the new naira notes in the economy. The CBN Lagos Branch Controller, Godfrey Koyor, said this during a stakeholder sensitisation event on the currency redesign...

We’re Ready To Fund Farmers, Artisans - CBN       The Central Bank of Nigeria has called on farmers, artisans, traders and others in Anambra State to maximise the funding opportunities which the bank has made available for them to expand their businesses. Branch Comptroller of the bank...