30 results
- 13 Feb 2013
Bankers’ Committee Mulls Slash in Bank Charges
Bankers’ Committee, made up of Central Bank of Nigeria (CBN); chief executives of all the Deposit Money Banks, Micro Finance Banks; and the Nigeria Deposit Insurance Corporation (NDIC) is working on…
- 18 Jun 2014
Bankers Committee Kicks Against Interest Rate Reduction
The Bankers’ Committee yesterday said that it might be difficult for the Central Bank of Nigeria (CBN) to achieve a lower interest for the country owing to the current level of macro economic…
- 23 Feb 2020
Banks Must Seek CBN Approval to Sack Workers- Bankers Committee
Banks cannot terminate the employment of more than five staff without a prior notice to the Central Bank of Nigeria (CBN), a communique released by the Bankers Committee after its meeting on Friday,…
- 14 Nov 2012
Bankers’ Committee Scraps N100 ATM Charges
Deposit Money Banks (DMBs) have agreed to waive the N100 charge imposed on Automated Teller Machine (ATM) transactions across banks,B isi Onasanya, group managing director of FirstBank, said after…
- 9 Jun 2016
Banks Halt Retrenchment, Labour Hands Banks 21-Day Ultimatum to Reverse Sack
Nigerian Bankers’ Committee at their 327th meeting in Abuja on Thursday agreed to halt the spate of recent mass sack in the industry. This came as the Nigeria Labour Congress (NLC) and the Trade…
- 2 Oct 2015
Banks to Freeze 32m Accounts without BVN from November 1
Banks’ customers have until October 31 to enroll for the Bank Verification Number (BVN) or risk having their accounts frozen from November 1, according to the Bankers’ Committee. The Bankers’…
- 12 Dec 2012
Politics of ATM Charges Withdrawal
The Bankers’ Committee’s decision to suspend all charges accruing from the use of Automated Teller Machines (ATMs) of other banks may have adverse effect on the industry if the cost of removing the…
- 19 Jun 2023
CBN Lifts Cash Deposit Restrictions on Domiciliary Accounts, Allows $10k Daily Withdrawals
Central Bank of Nigeria (CBN) has announced that cash deposits into domiciliary accounts will no longer be restricted. The statement by the apex bank came after a meeting with the bankers’ committee…
- 14 Apr 2009
CBN Improves Liquidity, Slashes MPR to 8%
The Central Bank of Nigeria (CBN) has pegged the monetary policy rate (MPR) at eight percent, in a move to improve liquidity conditions in the domestic money market. Monetary policy rate, formerly…
- 10 Dec 2012
Removal of ATM Charges to Wait Till May Next Year
The removal of charges on Automated Teller Machine (ATM) for inter-bank withdrawals would only be possible from the second quarter of next year because enormous works are still required to implement…
- 11 Dec 2017
CBN to Use BVN to Blacklist Loan Defaulters
Bankers’ Committee, the body of bank chiefs, said it plans to use the Bank Verification Number (BVN) of customers to blacklist loan defaulters from accessing further loans in the nation’s banking…
- 15 Feb 2019
Banks Set Up Special Funds for ICT, Other Sectors
Bankers Committee has said it is setting aside special funds to provide capacity and support to the creative and the ICT industries. The initiative will be funded from at least 5 percent of…
- 16 Nov 2012
Diamond Bank Welcomes Removal of ATM Charges
Diamond Bank Plc has described the decision by the Bankers’ Committee to remove the N100 Automated Teller Machine (ATM) withdrawal fee as a welcome development that would further strengthen the…
- 25 Jul 2022
Mass Resignation of Software Engineers Disrupts Banks Digitisation Move
The mass resignation of software engineers in most commercial banks across the country for greenerpasture abroad, is currently threatening digitisation in the banking sector. According to Leadership…
- 11 Jun 2015
N400Bn Bad Debt: Banks to Publish Names of Debtors by August 1
About N400 billion bad debt outstanding in the banking sector is causing panic in the industry and most of the debtors are individuals who have the capacity to pay but have refused to do so.…
- 7 Mar 2016
CBN to Stop Forex Sales to Banks not Issuing LCs
Any bank in Nigeria that deliberately refuses to issue Letters of Credit (LCs) to manufacturers would be denied access to the official foreign exchange window, according to a report by New Telegraph.…
- 18 Jun 2014
CBN Opens Black Book for Bad Debtors
Central Bank of Nigeria (CBN) has opened a black book for serial defaulters in a new zero tolerance regime against bad debtors in the nation’s financial system. The apex bank is to also publish names…
- 27 Nov 2012
Banks, Service Providers Parley on Removal of ATM Charges
The Association of Corporate Affairs Managers of Banks (Acamb) has said that the implementation of the Bankers Committee’s resolution to scrap the N100 charge on the usage of ATM of banks in which…
- 3 May 2020
Banks Agree To Suspend Mass Sack
The Central Bank of Nigeria (CBN) and the Bankers Committee have agreed to immediately halt the planned lay-off of workers due to the rampaging COVID-19 pandemic. Emefiele, CBN Gov Isaac Okorafor,…
- 9 Nov 2014
NIMC, CBN at Loggerheads over BVN Scheme
Central Bank of Nigeria (CBN) and National Identity Management Commission (NIMC) last week failed to agree on who should have full control over the Biometric Bank Verification Number (BVN)…
- 10 Jun 2021
CBN may Launch Digital Currency End of 2021 – Official
Central Bank of Nigeria (CBN) on Thursday in Lagos said that its digital currency might be launched by the end of 2021. Pix credit....Makemoney.ng Mrs Rakiya Mohammed, an Information Technology…
- 9 Apr 2015
CBN Barks, to Publish Names of Chronic Bank Debtors
Central Bank of Nigeria (CBN) said it would publish the names of chronic bank debtors and waxed worriedly about the growing amount of non-performing loans in the books of banks in the country. The…
- 23 Nov 2017
CBN, NDIC Push Banks to Return to Northeast
There are ongoing moves by the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to get commercial banks and microfinance banks return to the troubled North-East region,…
- 9 Apr 2016
CBN Approves 2 Super Agents to Distribute Banking Services
Mrs Tokunbo Martins, director, Banking Supervision Department of the Central Bank of Nigeria (CBN), says the bank has approved two super agents to distribute banking services at cheaper prices.…
- 1 Sept 2019
Experts Okay Deposit Forfeiture for Loan Defaulters
The Central Bank of Nigeria (CBN) new policy regime mandating banks to go after customers who default on the repayment of their loans by seizing their deposits in other accounts is backed by law,…
- 12 Feb 2016
CBN Says 57m Nigerians now Have Access to Financial Services
The Bankers Committee of the Central Bank of Nigeria (CBN) has said that 57 million Nigerians, which represent 66 per cent of the population, now have access to financial services. Mrs Tokunbo…
- 13 Aug 2021
Bank Chiefs Threaten Arrest, Prosecution of Customers Involved in Fraudulent Forex Purchases
The chief executives of deposit money banks in the country have warned customers against using fraudulent methods to get access to foreign exchange (Forex) from banks, saying those caught…
- 30 May 2019
Banks to Create, Share “Black Book” of Chronic Debtors
Chief executive officers of financial institutions have resolved to create and maintain what they term a ‘Black Book’ for the compilation of details of loan defaulters that will be shared among all…
- 10 Mar 2014
Oil Cabal Shared Missing $20Bn, Sanusi Tells New York Times
Sanusi Lamido Sanusi, ousted governor of Central Bank of Nigeria (CBN) has told New York Times that the $20 billion he accused the state-owned Nigerian National Petroleum Corporation (NNPC) of not…
- 25 Aug 2020
CBN Asks Banks for Names, BVNs of Exports Proceeds Defaulters
Central Bank of Nigeria (CBN) has directed banks to provide the submit the names, addresses and bank verification numbers (BVN) of exporters that have defaulted in repatriating their exports…