30 results
- 3 Jan 2025
Court Freezes 21 Bank Accounts, Orders Holders’ Arrest over Alleged Money Laundering
Justice Emeka Nwite of the Federal High Court, Abuja, on Friday, ordered the temporary freezing of 21 bank accounts domiciled in some commercial banks in the country. He also ordered the arrest of…
- 19 Feb 2020
CBN Releases List of Authorised Banks in Nigeria
Central Bank of Nigeria (CBN) has released the list of deposit money banks and financial holding companies operating in Nigeria, meaning that anybody who transacts banking business outside the list…
- 21 Nov 2013
Terrorist Financing: Banks Meet over Plan for Nationwide Shutdown
National Union of Banks, Insurance and Financial Institutions Employees (NUBIFE) said it will meet today to discuss the planned shut down operations nation wide in protest over the continued…
- 5 Aug 2015
Name and Shame: FCMB, MRS Fight over N6.2Bn Debt
Central Bank of Nigeria (CBN)-initiated name and shame campaign of banks’ delinquent debtors gained further momentum on Wednesday as First City Monument Bank Limited and Ecobank Nigeria published…
- 19 Nov 2013
Worries over Arrests of Top Bankers for Alleged Terrorist Financing
The banking industry and State Security Service (SSS) are embroiled in claims and denials over the continued detention of senior personnel of 13 Nigerian banks for alleged terrorist financing and…
- 8 Apr 2021
CBN Freezes 84 Bank Accounts of Firms/Persons under Investigation
Central Bank of Nigeria (CBN) has secured an interim order of a federal high court in Abuja, freezing 84 bank accounts belonging to 25 individuals and companies. Those affected by the new order…
- 14 Nov 2023
Interswitch System Glitch: Court Orders Freezing of Accounts in 54 Banks
Justice Peter Lifu (JP) of a Federal High Court sitting in Lagos has granted an order freezing some accounts in about 54 financial institutions in the country where alleged funds from Interswitch…
- 15 Jun 2010
Banks Grant MTN N318 Billion Loan Facilities
MTN Nigeria, Nigeria’s leading telecommunications company has received fresh loan facilities to enable the company further expand its network across the country. A consortium of 15 Nigerian…
- 3 May 2017
CBN Expels 16 Banks from Forex Market
Central Bank of Nigeria (CBN) on Tuesday stopped 16 Deposit Money Banks from participating in the Small and Medium-scale Enterprises (SMEs)window of the foreign exchange market. Isaac Okorafor,…
- 21 May 2015
Loan Dodgers Owe Banks N138Bn
Loan default by customers made 13 Deposit Money Banks to lose a combined sum of N138 billion in the 2014 financial year, according to calculations by the Punch Newspaper. Data obtained from the 2014…
- 3 May 2020
FG Rakes in 8Bn from Banks’ IT Levies
Eleven Nigerian banks paid about N8.08bn Information Technology-related levies to the government in 2019, the audited financial reports of the banks have shown. Punch reported that the analyses of…
- 2 Aug 2010
CBN Pumps N130 Billion into Real Sector
The Central Bank of Nigeria (CBN) has released over N130 billion to small and medium scale enterprises (SMEs) through the Bank of Industry (BOI). The fund will be accessed through authorized…
- 9 May 2024
CBN Unveils List of Licensed Deposit Money Banks
Central Bank of Nigeria (CBN) has released the list of licenced Deposit Money Banks operating in the country. Providing insights into the banking landscape in Nigeria, the list was made public on the…
- 16 Aug 2018
MTN Nigeria Inks N200bn loan facility with 12 banks for Network Expansion
MTN Nigeria on Wednesday signed a seven-year N200 billion medium term facility with a consortium of twelve (12) local banks, with FBN Quest acting as facility agent. Ferdi Moolman, Chief…
- 15 Jun 2016
Providus Bank Gets Commercial Banking Licence from CBN
Providus Bank Plc has been granted a commercial banking licence with regional authorisation by the Central Bank of Nigeria (CBN), according to information on the apex bank’s website on Tuesday.…
- 21 May 2013
FCMB, Skye Bank CEOs, Others Face Arrest over N83Bn Tax Remittance
House of Representatives has threatened to arrest 10 bank chief executive officers over their failure to attend its investigative hearing on tax remittance on Monday. The bank chiefs are: First City…
- 11 May 2009
Equitorial Trust Bank signs on Finacle
Equitorial Trust Bank Plc, has signed Finacle universal banking application from Infosys Technologies, India to replace their current legacy Globus banking application. ETB also joins other banks…
- 23 May 2013
Bank Chiefs Appear before Reps over N83Bn Tax Remittance
The bank chief executive officer that were threatened with arrests on Monday for failing to appear before the House of Representatives Committee on Finance investigative hearing on tax remittance…
- 27 Apr 2024
CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria
Central Bank of Nigeria (CBN) has awarded the country’s second Payment Terminal Service Aggregator (PTSA) license to Unified Payments, Nigeria’s premier financial technology company, following a…
- 25 May 2026
NIBSS Blames System Glitch for Disappearance of N13.66Bn, Seeks Court Nod for Recovery
Nigeria Inter-Bank Settlement System Plc (NIBSS) has sued 19 commercial and microfinance banks, over N13.66 billion allegedly lost to unauthorized transfers following a major glitch on its payment…
- 7 Apr 2021
Mobile Money: MTN Expands Cardless Cash Withdrawal Service to 44 Financial Institutions
Following the recent USSD drama, Y’ello Digital Financial Services (YDFS) has announced the expansion of its MoMo Agent cardless cash withdrawal service to over 40 banks and other financial…
- 2 Feb 2025
Customers’ USSD Access Intact as Banks’ Settle USSD Debt
Almost all e nine banks earmarked for disconnection from Unstructured Supplementary Service Data (USSD) service over a N160 billion debt have reportedly made good progress in terms of repayment,…
- 9 Mar 2021
Firm Asks Court to Freeze SAP Accounts over Alleged Contract Breach
B4G Consulting Ltd has asked a Lagos State High Court to restrain Systems Applications Products (SAP) from dissipating $3,371,945.27 and N5mllion with 28 Respondents including the Central Bank of…
- 21 Feb 2017
FCMB Appoints Adamu Nuru New MD
The board of First City Monument Bank (FCMB) Group has announced the appointment of Adamu Nuru as the Managing Director of the commercial banking arm First City Monument Bank Limited. According to a…
- 5 Jul 2020
CBN Debits Banks N1.977.7trn to Tightens Liquidity
Central Bank of Nigeria (CBN) has debited close to N2 trillion from several banks in the last quarter in line with its Cash Reserve Ratio (CRR) compliance requirement, and this has left many banks…
- 14 Sept 2009
FCMB Introduces MasterCard Prefunded Picture Card
\First City Monument Bank Plc (FCMB) has introduced the first MasterCard Prefunded Picture Card into the Nigerian financial market. The new FCMB MasterCard Prefunded Picture Card with enhanced…
- 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…
- 14 Apr 2009
MTN Provides Wide Area Network Solution to CBN, FCMB
Nigeria’s telecommunications operator, MTN, has signed a deal with Central Bank of Nigeria (CBN) and First City Monument Bank plc (FCMB) for the provision of Wide Area Network (WAN) solutions,…
- 13 Sept 2024
GOCOP Partners NCDMB, EMADEB, Dangote, NCAA, Setraco, UBA, NCC, Others for 2024 Conference
Partners for the eighth annual conference of the Guild of Corporate Online Publishers (GOCOP) have begun to emerge with the Nigerian Content Development and Monitoring Board (NCDMB), Emadeb Group and…
- 11 Jan 2020
Banks’ Deposits with CBN Hit N3.17tn in 9 Months
Central Bank of Nigeria (CBN) has recorded N3.17tn deposits from 11 commercial banks in nine months. Data obtained from the financial statements of the commercial banks listed on the Nigerian Stock…