In Nine Months, 12 Banks Earn N133.92bn From E-payments         Increased investment in technology and the introduction of new online payment channels have earned Nigerian banks N133.92bn. The adoption of electronic channels for financial transactions earned 12 Deposit Money Banks about N133.92bn revenue in the first nine...

CBN To Banks: Cut Service Cost         The Central Bank of Nigeria (CBN) has advises banks and other financial institutions to reduce the cost of providing banking services to their customers, especially the underbanked and unbanked within the society. CBN Director, Payment System Management Department, Musa Jimoh...

Banks, Telcos In Talks To Settle N17bn USSD Debt       Commercial banks and mobile network operators have commenced discussion on how the N17bn accumulated debt for Unstructured Supplementary Service Data access will be paid. Findings showed the two parties would reach an agreement on modalities for payment...

MTN Nigeria Profit Shrinks To N144.24bn         MTN Nigeria’s profit dropped by 3.3 per cent, recording N144.24bn profit after tax in the nine-month period ended September 30, the company’s unaudited financial report released on Wednesday has shown. MTN said its operations were impacted by the devaluation of...

Telecom Companies Threaten To Disconnect Banks From USSD   Telecommunications companies have threatened to stop offering Unstructured Supplementary Service Data services to financial institutions without commensurate financial payment for the services. The companies, which are also members of Association of Licensed Telecommunications Operators of Nigeria, insisted that...

USSD Framework: CBN Postpones Implementation Date   the central bank of nigeria has extended the start date for the implementation of the regulatory framework for use of unstructured supplementary service data in the country’s financial system. The implementation of the framework was initially scheduled to start on...