e-Naira Will Strengthen Banking System - CBN       The Central Bank of Nigeria has said e-Naira will strengthen the banking system and make it easier to comply with existing laws such as anti-money laundering, customer protection against fraud and ensuring the safety and stability of the...

CBN Moves To Enhance Transparency In Banking Sector       The Central Bank of Nigeria has directed banks and payment service providers to separate all transactions that would typically be categorised as bulk payment upon transition. The CBN said in a circular on Wednesday that the directive was...

Banks Ready To Implement CBN Directive On Forex Defaulters       Banks are set to implement the Central Bank of Nigeria’s directive to publish the names and Bank Verification Numbers of customers that flout its forex rules. In a mail to its customers, the United Bank for Africa...

Ten Banks Generate N266bn From Account Maintenance, E-banking Fees       Ten Nigerian banks made N265.96bn from account maintenance and electronic banking fees in 2020. This is as shown by analysing data from the annual reports of the 10 banks. The banks made N79.55bn from account maintenance fees...

Oil, Power Companies’ Bank Debts Now N6.14trn - CBN       The debts owed to Nigerian banks by oil and gas operators as well as power companies have risen above N6tn, the latest data obtained from the Central Bank of Nigeria have shown. The energy firms increased their...

COVID-19 Loans: CBN Receives Over 8million Applications, Disburses N400bn       The Central Bank of Nigeria has disclosed that it has received over eight million applications from Nigerians for its COVID-19 Targeted Credit Facility to help households and businesses. CBN’s Director, Corporate Communications Department, Mr Osita Nwanisiobi, disclosed...