19 results
- 22 Mar 2012
CBN Reviews Cashless Policy
The Central Bank of Nigeria (CBN) has reviewed its cashless policy aimed at reducing the amount of cash in circulation. The apex bank said in a statement that the review of the policy was needed to…
- 16 Dec 2022
AMMBAN Petitions Buhari, NASS over CBN Policy on Cash Withdrawal Limit
A group under the aegis of Point of Sale ( POS Operators ) in Nigeria Friday kicked against the cashless policy of the Central Bank of Nigeria ( CBN ) that wants to cash withdrawal of money by…
- 8 Apr 2012
Cashless Policy: Disconnects Must be Fixed - Adeyemi
Adeyinka Adeyemi is a managing partner at Intermarc Consulting, an e-payment and e-banking intermediation company. The company organizes trainings, seminars, conferences and exhibitions and publishes…
- 19 Nov 2017
ePayment Stakeholders’ Seek Review of Policy on PoS to Boost Growth
Worried by slow pace of growth in the use of Point of Sale terminal (PoS) as a means of payment in the country, stakeholders have called on Central Bank of Nigeria (CBN)to review its policy direction…
- 21 Dec 2022
CBN Reviews Cash Withdrawal Limits for Corporates, Individuals
The Central Bank of Nigeria has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The…
- 20 Jul 2014
PoS Transactions Hit N24Bn in June
Payment of goods and services across the country at merchants’ location through Point of Sale (PoS) terminals in June recorded some 16% rise in value hitting N24.8billion, Nigeria CommunicationsWeek…
- 24 Nov 2019
Stamp Duty Charge on PoS Transactions As A Disincentive to Increased Penetration
The burden of handling cash by banks and merchants was becoming enormous that central bank of Nigeria conceived and began promoting electronic payment channels to ease the risk. There are several…
- 6 Feb 2012
Brighter Side of Mayan Year
Along with predicting the end of the world in 2012, the ancient Mayan calendar could have helped mankind if it threw in a few forecasts about the economy this year to encourage profligacy or…
- 13 Oct 2019
VAT Hike Will Worsen Unemployment, Poverty- ABCON
Association of Bureaux De Change Operators (ABCON) has warned against the proposed increase in Value Added Tax (VAT) to 7.2 per cent from five per cent. The group insisted that the increase…
- 29 Feb 2016
Nigerians to Boycott Banks Today over Excessive Charges
Nigerians are planning to shun banking activities today to protest exorbitant deductions by commercial banks in the country. Consumer Advocacy Foundation of Nigeria (CAFON), a not-for-profit group…
- 21 Dec 2022
CBN Recants Increases Weekly ATM withdrawal Limits from ₦100,000 to ₦500,000
The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.…
- 25 Feb 2013
ICT Sector this Year from Leo-Stan’s Observatory
2013 is just two years from 2015, the year set aside for the attainment of the Millennium Development Goals, and seven years from 20 2020, Nigeria’s self set date to join the top 20 economies…
- 30 Dec 2019
NCC, Others to Meet over USSD Charges
Nigerian Communications Commission (NCC), Central Bank of Nigeria (CBN), and Body of Bank CEOs are to meet to resolve the dispute surrounding charges for use of Unstructured Supplementary Service…
- 6 Oct 2019
Ecobank Calls for Joint Effort to Tackle Cyber Crime
Ecobank Nigeria Limited has advocated continuous collaboration by all stakeholders in the fight against cyber crimes in the country. In his welcome address at the second general meeting of the…
- 13 Sept 2017
Innovation Summit to Address Gaps in Payment System
A summit on Point of Sales (PoS) terminal transactions in the country has been scheduled to hold in Lagos on the 29th September 2017. The program which is an intervention to address the gaps…
- 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.…
- 5 Nov 2012
CBN Yet to Achieve Interoperability in POS Transactions
More than a year after Central Bank of Nigeria (CBN) issued a guideline on Point of Sale (PoS) card acceptance services; the sector is yet to achieve interoperability, no thanks to the challenges of…
- 20 Oct 2025
CDJCR Asks NCC, CBN to Punish Operators over Failed Airtime, Data Refunds
Centre for Digital Justice and Consumer Rights (CDJCR) has urged the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) to enforce strict sanctions on operators that fail…
- 16 Oct 2016
Economy Fingered as POS Transactions Edge up in September
The state of the country’s economy has been attributed as being responsible for the low level of use of Point of Sale (PoS) terminal as a means of payment in the month of September this year, Nigeria…