Cheque Books To Get New Digit, Expiry Dates       With effect from January 1, 2021, banks will introduce a new digit on the Magnetic Ink Character Recognition code line and expiry dates to new cheque books. First Bank of Nigeria Limited disclosed this in a mail to...

Nigeria Far From Financial Inclusion Target – CBN Report       A report by the Central Bank of Nigeria and the Enhancing Financial Innovation & Access has said that Nigeria is far from achieving its financial inclusion target in 2020. The CBN disclosed this in the report titled...

CBN, DBN Urge MfBs To Improve Sustainable Banking     The Development Bank of Nigeria and the Central Bank of Nigeria have urged microfinance banks and other participating financial institutions to improve their sustainability efforts and become more responsive to their social and ecological environment. The banks said...

CBN To Resume Forex Sales To BDCs Sept 7     The Central Bank of Nigeria has said it will resume the sale of foreign exchange to the Bureau De Change segment of the foreign exchange market on September 7. The CBN stated this in a circular entitled...

CBN Bans Special Treatment For Payment Service Banks       The Central Bank of Nigeria has prohibited parent companies or any other related entities of a Payment Service Banks from offering any preferential treatment, which negates fair competition, to its subsidiaries. This was contained in a circular to...

FintechNGR, CBN Drive Financial Inclusion   The Fintech Association of Nigeria, the Central Bank of Nigeria and some regulators in the financial sector have expressed their readiness to drive financial inclusion through fintech. The operators also expressed their support for the growth of start-ups in the fintech...