30 results
- 31 Aug 2018
Repayment of MTN’s $8.1Bn Fine May Trigger Banking Crisis
Nigeria may witness another round of banking crisis unless an amicable resolution is reached between Central Bank of Nigeria (CBN) and MTN, over repayment of $8.1 billion, believed to have been…
- 12 Dec 2023
Why Some Nigerian Banks Failed - Ibrahim
Umaru Ibrahim, immediate past managing director and chief executive officer, Nigerian Deposit Insurance Association (NDIC), has said that some Nigerian banks failed because of non-compliance with…
- 7 Dec 2023
NDIC to Pay N16.18Bn Liquidation Dividends to Depositors of 20 Failed Banks
Nigeria Deposit Insurance Corporation (NIDC), has asked depositors of 20 failed banks to come forward and claim their liquidation dividends amounting to N16.8 billion. Bello Hassan, managing director…
- 2 Oct 2023
NDIC Begins Payment of N16.18Bn to Liquidated Banks’ Depositors
Nigeria Deposit Insurance Corporation (NDIC) has declared N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation. This followed impressive…
- 11 Sept 2018
CBN Lacks Powers to Order MTN to Refund $8.1Bn- ATCON
Association of Telecoms Companies of Nigeria (ATCON) has said that the Central Bank of Nigeria (CBN), has no powers to order MTN Nigeria to refund $8.1billion. ATCON said that the cash in…
- 19 Feb 2020
NCC, NIPOST Ink MoU on eServices
Nigerian Communications Commission (NCC) and the Nigerian Postal Service (NIPOST) have agreed to sign a Memorandum of Understanding (MOU) on an e-fulfillment centre for e-services, e-commerce,…
- 24 Aug 2016
Nine Banks Trouble for Hiding NNPC’s $2.274Bn
Nine deposit money banks (DMBs) are in trouble for hiding over $2.274 billion belonging to the Nigerian National Petroleum Corporation (NNPC) from the Treasury Single Account (TSA). The Central Bank…
- 1 Jul 2026
Court Asks CBN, NIBSS to Seek Settlement in N98.5Bn Patent Suit
Justice Deinde Dipeolu of the Federal High Court in Lagos has urged all parties in the N98.5 billion patent infringement lawsuit involving the Central Bank of Nigeria (CBN) and Nigeria Inter-Bank…
- 24 Dec 2018
CBN, MTN Reach Agreement over $8.1Bn Repatriation Order
Central Bank of Nigeria (CBN) has reversed the $8.1 billion repatriation order on MTN Nigeria Communications Limited, following the amicable resolution of issues relating to foreign exchange…
- 12 Apr 2024
CBN Sacks another 50 Staff, 117 Disengaged in 20 Days
There is growing apprehension among the Central Bank of Nigeria (CBN) staff as 50 additional employees were sacked on Monday, adding to the long list of ongoing disengagement at the apex bank.…
- 16 Jun 2016
NLC Threatens to Close Banks over Mass Sack
Nigeria Labour Congress (NLC), Wednesday, issued a 14-day ultimatum, starting from Thursday to six banks “to immediately recall all workers so sacked, and allow unionisation of workers in the banks,…
- 5 Oct 2018
MTN Receives Counterclaim from CBN
MTN has received a counterclaim from central bank of Nigeria to its request for an order to stop the bank forcing it to repatriate $8.1 billion it claims was illegally sent out of the country, the…
- 22 Aug 2024
N555m Fine: Fidelity Bank Faults NDPC’s Allegations, Says ‘No Data Was Breached’
Fidelity Bank has disputed data breach allegations levelled against it by the Nigerian Data Protection Commission (NDPC). In a statement, Meksley Nwagboh, spokesman for the bank, said no data law was…
- 28 May 2019
NCS urges FG to Ensure Strict Compliance of EOs 003, 005
Prof Adesola Aderounmu, President, Nigeria Computer Society (NCS) has called on the federal government to ensure 100 percent compliance of Executive orders 003 and 005 if we are to solve the…
- 10 Mar 2017
CBN, NCC to Intervene in Etisalat Loan Issue
Nigeria Communication Commission (NCC) yesterday said the Commission and Central Bank of Nigeria (CBN) had moved to intervene in the Etisalat loan issue, according to Tony Ojobo, director of Public…
- 22 Jul 2020
NCC Moves to Settle Banks/Telcos USSD Dispute
Alhaji Mohammed Babajika, director, Licensing and Authorisation at Nigerian Communications Commission (NCC) has called for an amicable resolution to the discrepancies in USSD charges received by…
- 12 Jun 2025
Court Declines Access Bank’s Request to Freeze MTNN Account over N180Bn Claims
Federal High Court in Lagos has declined Access Bank Plc’s request to freeze the bank accounts of MTN Nigeria Communications Plc over a disputed N180.95 billion debt claim linked to a long-expired…
- 14 Mar 2021
FG Asks Telcos to Halt Suspension of USSD Banking Services
Dr Isa Ali Ibrahim Pantami, minister of Communications and Digital Economy, has directed that the impending suspension of the USSD services by the Mobile Network Operators (MNOs) be put on hold. The…
- 6 Feb 2012
Rule of Law @ Test in Econet Wireless Dispute
After long drawn years of legal tussles in and out of court corridors, the recent judgment by the Federal High Court sitting in Kaduna reinstating Econet Wireless Ltd’s equity in Airtel Networks…
- 14 May 2023
CBN Moves to Resolve Telcos, Banks’ Dispute over N120Bn Debt
Central Bank of Nigeria (CBN) has blamed the dispute between telcos and deposit money banks (DMBs) over non-payment for the provision of the Unrestructured Supplementary Service Data (USSD) to bank…
- 27 Nov 2018
MTN Executives to Resign as Telco Battles FG Fines
There are strong indications that some executives of MTN Group will exit the telecom firm in the next few months as the company battles to resolve its issues with the Nigerian government over the…
- 8 Dec 2021
UBA Takes over AEDC over Failure of KANN Consortium to Service Debt
Nigeria Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) have approved the takeover of Abuja Electricity Distribution Company (AEDC) by the United Bank for Africa…
- 4 Jul 2017
Etisalat, Banks Resolve $1.2Bn Indebtedness Issues- NCC
Nigerian Communications Commission (NCC) has that Etisalat and its creditors have successfully reached an amicable resolution of key issues pertaining to the $1.2bn indebtedness. Mr Tony Ojobo,…
- 29 May 2019
NCS Asks FG to Pay Systemspecs for Use of Remita
Nigeria Computer Society (NCS) has advised the Federal government to fulfil its financial obligation to SystemSpecs for the use of Remita, software used by the Nigerian government to receive payments…
- 7 Oct 2018
CBN Reverses Gear, May Cut MTN’s $8.1Bn Repatriation Demand
The Central Bank of Nigeria (CBN) may alter the amount it has ordered South African telecoms firm MTN to repatriate as part of a dispute, Godwin Emefiele, CBN governor, said on Sunday. “I don’t think…
- 11 Apr 2021
Banks Wriggle to Avoid Payment of N43Bn Owed Telcos
The dispute over the N42 billion owed telecommunications operators in the country by money deposit banks took a new dimension at the weekend as the banks claimed they are not indebted to the telcos…
- 22 Jun 2020
Senate Moves to Resolve Stamp Duty Between NIPOST and FIRS
Senate said it will soon schedule a meeting with all relevant stakeholders to resolve the ongoing stamp duty controversy between the Nigerian Postal Service (NIPOST) and the Federal Inland Revenue…
- 18 Jul 2021
MultiChoice in Talks with FG to Resolve Tax Claims
MultiChoice said it is in discussions with Nigerian authorities over the instruction it issued to local banks to freeze its accounts over unpaid taxes. Early this month, media reported that the…
- 19 Mar 2018
CBN Unveils Regulation for Payment of Bills
Central Bank of Nigeria (CBN) has unveiled regulations for the payment of bills in the country, explaining that the move was to document the minimum standards that must be complied with for the…
- 27 Aug 2020
FG Carves Out 3 Firms from NIPOST, Plans Commission for Courier Industry
Federal Government has created three commercial ventures from the Nigerian Postal Service (NIPOST) even as it said National Postal Commission (NPC) will be established soon to regulate the courier…