Tag: banks
Confusion, panic trail plan to debit bank accounts for tax debts
Many Nigerians are worried following a notice by the Lagos Internal Revenue Service (LIRS) saying it has the legal power…
Competitive tensions between banks and mobile-based fintechs as drivers of service pricing and access in Nigeria
Competition is forcing clearer pricing, faster innovation, and wider reach. Yet it is also producing a constant stream of fee…
Lagos recovers ₦1.5bn taxes from defaulting Nigerian bank, warns others
“One of the notable banks facing our enforcement process paid the sum of ₦1.5 billion in outstanding taxes. Other banks…
NELFUND: Investigations reveal how schools, banks are shortchanging students
The NOA's feedback shows how specific institutions have, in connivance with some banks, deliberately delayed payments to successful student applicants…
Shock in Nigeria’s financial sector as banks lose N4 billion to System Glitch
The unauthorized withdrawals covered a period from 6th to 9th September 2024, resulting in an immediate financial exposure of N13,662,138,920…
CBN vows to crack down on banks imposing withdrawal limits below N20,000 per transaction
“Any bank that compels a customer with sufficient funds in her account to withdraw less than N20,000 per transaction against…
Shettima to bankers: Ensure availability of cash for Nigerians
The Vice-President said this while noting that Nigerians are complaining bitterly that they are unable to access even minimal cash…
CBN unveils penalties for banks aiding hawking of Naira notes
CBN would engage in “mystery shopping” exercise and periodic “spot checks” on cash distribution and disbursement activities of banks to…
System Upgrade: Nigerian banks that inflicted pains on customers
The disruptions by Guaranty Trust Bank (GTBank) and Zenith Bank, in particular, have seriously affected the ability of thousands of…
Banking sector faces reckoning as EFCC vows to prosecute top officials for fraud
Olukoyede disclosed that the Commission has completed its investigations and compiled the necessary documents to substantiate the claims against certain…
FG vows to resell DisCos still under banks, AMCON acquisition
Adelabu said very soon tough decisions would be taken on the DisCos, saying they are the last lap of the…
Why banks fail – EFCC boss
He called for stronger collaboration with the EFCC, maintaining that the Commission has always been of tremendous help to the…
CBN breaks silence on banks failing Capital Adequacy Ratio stress test
CBN urged Nigerians to always rely on official channels for information and avoid speculation based on unverified sources.
Enugu shuts 106 shops, 2 banks over sit-at-home order
Gov. Peter Mbah had last Monday threatened to sanction shop owners and banks that refused to open for business in…
Court discharges 22 banks in N4.7bn garnishee proceedings against NNPC, PPMC
Justice Allagoa, in his judgement declared that "in all, the plaintiffs have proved their case on the preponderance of evidence…
USSD: Nigerian Banks owe telecom operators N120bn, face disconnection
Adebayo said that the approval was granted because in spite of the multi-party stakeholder efforts to resolve the situation and…
Breaking: Sporadic shootings as robbers attack four banks in Edo
According sources in the town, the affected banks are Zenith Bank, First Bank, Unity Bank and the United Bank for…
Coronavirus: Banks will open for service in Lagos – Buhari
President Muhammadu Buhari, Monday, signed the Covid-19 Regulations, 2020, which declared Covid-19 a dangerous infectious disease.
Senate investigates deposit banks over remittance of tax revenues
The Senate has mandated its Committees on Banking, Insurance and Financial Institutions, and Finance to investigate withholding tax revenues on…
Senate probes CBN over N20trn unremitted stamp duties
The Senate has mandated its Committee on Finance to investigate the non-remittance of over N20 trillion into the Federation Account…
MTN Nigeria signs N200bn syndicated loan with 7 local banks
MTN Nigeria Communications Plc on Friday signed a seven-year 200 billion naira medium term facility with a consortium of seven…
7 banks pay N144.99m fine to regulators in 2018
Seven banks quoted on the Nigerian Stock Exchange (NSE) paid N144.99 million as fines to regulators in 2018 for various…
2 more banks go down as Ghana completes sector cleanup
Ghana’s Central Bank on Saturday disclosed the revocation of the operating licences of two more banks, Premium Bank and Heritage…
Tanzania central bank suspends five banks from interbank FX market
Tanzania’s central bank has suspended five banks from trading in the interbank foreign exchange market for one month for breaching…
Industrial court seals 4 banks in Owerri
The National Industrial Court in Owerri on Wednesday sealed four banks for disregarding its order which was issued in favour…
Senate orders CBN to suspend unscrupulous ATM charges by banks
The Nigerian Senate on Wednesday moved against illicit and excessive charges by Nigerian banks on customers accounts with particular focus…
Anti-graft heat turns on banks
In a renewed battle against corruption, the Central Bank of Kenya (CBK) has issued a stern warning that it would…
Strike: Federal, State Secretariats, banks, shut in Ibadan
Workers deserted both the Federal and State Secretariats in Ibadan, Oyo State, on Thursday in compliance with the seven-day warning…
Ebonyi demands 11 year financial statements from banks
The Ebonyi Government on Monday directed banks that have financial dealings with it to immediately submit its accounts statements from…
Oyo seals 12 banks over non-payment of levy
Twelve banks in Ibadan, the Oyo State capital, were sealed on Monday morning by the state’s Board of Internal Revenue…