The Central Bank of Nigeria (CBN) has refuted claims that it has reinstated the cybersecurity levy on electronic transfers, a charge that was suspended earlier this year. Originally, on May 6, 2024, the CBN issued a directive requiring all commercial, merchant, non-interest, and payment service banks, as well as mobile money operators, to implement a … Read more
Zenith Bank Plc has been named the Best Bank in Nigeria for the fourth consecutive year in the Global Finance Best Banks Awards 2024. The selection process for the awards involved extensive consultations with financial executives, analysts, and consultants worldwide, considering factors like asset growth and innovation. Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive … Read more
EkoHotBlog reports that Point of Sale (PoS) agents in Lagos State has announced new charges for cash withdrawal. According to Stephen Adeoye, Public Relations Officer, Association of Mobile Money and Bank Agents in Nigeria, Lagos Chapter, the change in the price list is to eradicate price discrepancies in the industry. Adeoye said, “Let me tell … Read more
The Central Bank of Nigeria (CBN) has confirmed that the Bank Verification Number (BVN) issued in collaboration with Nigeria Inter-Bank Settlement System does not expire. BVNs issued in Nigeria remain valid for life once a customer’s biometrics have been captured and enrolled in the database of NIBSS. The CBN implores all bank users across … Read more
Madif Engineering Services Limited has petitioned Nigeria’s commercial bank Polaris Bank Limited for Misappropriation Of Funds Polaris Bank Limited is currently alleged to be involved in a reported financial mess bordering on reputational issues. This follows the decision of one of the bank’s customers , Madif Engineering Services Limited to petition the Federal Competition and … Read more
United Bank for Africa, UBA employees at the treasury unit in head office have tested positive to Coronavirus. Kennedy Uzoka, the Group Managing Director and CEO of pan-African banking group, UBA Plc. said in a statement obtained by Ekohotblog that the case is being handled by the Nigeria Centre for Disease Control, NCDC. See caputed … Read more
The Bank of Industry (BoI) has recorded a profit of N39.33 billion for the 2019 financial year. The bank said in a statement that it disbursed N234 billion to 10,145 enterprises, thus facilitating the creating of an estimated 1 million direct and indirect jobs. The group’s total equity, it said stood at N293.09 billion showing … Read more
Banks’ credit to governments shrunk by13.41 per cent in October to N9.05tn from N10.45tn reported in September, the Central Bank of Nigeria has disclosed. On the other hand, credit to private sector hit N25.8tn in October, according to apex bank. With N25.8tn, commercial bank lending to real sector, the year-till-Date performance revealed that credit to … Read more