Mutilated Notes: CBN Expresses Concern, Imposes Heavy Sanctions   The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks to stop including composed currency notes...

Customers Groan As Cash-strapped Banks Slash Withdrawal Limits   Amid a surge in demand for more cash by bank customers as the Yuletide season approaches, some Deposit Money Banks have slashed the withdrawal limits of their customers. Findings across bank branches in some key cities in the...

Banks, Insurance Firms To Generate N22.6bn From MDAs   Deposit Money Banks and insurance companies are expected to rake in the sum of N22.6bn in bank charges and insurance premiums from Ministries, Departments and Agencies of the Federal Government in 2022. This was according to an analysis...

Nigerian Banks To Stop Accepting Old £20, £50 Notes Dec 31   Deposit Money Banks in Nigeria have issued a deadline of December 31, 2021 for the acceptance of old £20 and £50 notes to enable proper conclusion of cash evacuation. One of the banks, Fidelity Bank...

Banks Begin Deduction Of Loans From Chronic Debtors’ Accounts   The Deposit Money Banks are recovering debts owed by chronic debtors from their accounts in other banks to curb the growth of non-performing loans in the industry, findings have revealed. Figures obtained from the Central Bank of...

Gbajabiamila To Banks: Stop Hidden Charges, Exploitative Marketing       The Speaker of the House of Representatives, Femi Gbajabiamila, has expressed concern over the way Deposit Money Banks charge account holders indiscriminately, decrying that apart from known charges, there appeared to be other ‘hidden’ charges that banks...