30 results
- 2 Jun 2021
Nigerian Banks Spend Billions Annually on KYCs - KPMG
A KPMG report has revealed that Nigerian banks spend billions of naira annually to implement the Know Your Customer (KYC), which is a compulsory regulatory tool used to reduce the menace of money…
- 13 Jul 2021
Smile Identity Raises $7m to Build KYC and Identity Verification Tools for Africa
Smile Identity, the company that enables ID verification and KYC compliance through Artificial Intelligence designed for African faces and identities, announced today that the company had secured $7…
- 24 Jan 2013
CBN Sets New Deposit Limits, KYC
Central Bank of Nigeria (CBN) has set new deposit limits for all categories of account holders and introduced three-tier Know Your Customer (KYC) requirements for banks. The apex bank recognized that…
- 7 Jan 2013
CBN Seeks More KYC from DNFBPs
Central Bank of Nigeria (CBN) has introduced additional Know Your Customer (KYC) requirement for all designated non-financial businesses and professions (DNFBPs) with effect from February 1. This…
- 9 Jan 2024
PalmPay Urges Users to Re-validate KYC Details Ahead of January 31 Deadline
Ahead of the January 31, 2024 deadline by the Central Bank of Nigeria (CBN) for existing users of fintech companies to upgrade their wallets, leading fintech company PalmPay has urged its users to…
- 25 Jan 2024
Opay Vows to Block Accounts without Proper KYC Verification
OPay, leading the charge in mobile-based payments, has pledged to implement a thorough removal process for accounts lacking a Bank Verification Number (BVN) and/or National Identification Number…
- 4 Sept 2015
Airtel Extends Showroom Operation Hours for KYC Registration
Airtel Nigeria said on Friday that customers who are yet to update their records on its networks and register their SIM cards in line with the directives of the Industry Regulator, Nigerian…
- 14 Mar 2021
Banks Demand Extra KYC for Domiciliary Account Online Transfers
Banks in Nigeria in Nigeria have started informing customers that they can no longer make instant online transfers out of their domiciliary accounts without proper documentation or Know Your Customer…
- 18 Dec 2023
KYC Verification: Experience the Best in Holiday Shopping with the PalmPay App
As the holiday shopping frenzy reaches a crescendo ahead of December 25th, many shoppers will struggle to find retail outlets that offer “the best shopping experience,” and at the same time support a…
- 27 Oct 2025
NAICOM Tightens KYC Rules to Strengthen Market Transparency
The National Insurance Commission (NAICOM) has issued a new directive mandating all insurers and brokers in the country to obtain verifiable identity details, including the National Identification…
- 26 Jan 2024
PalmPay Urges Users to Update their BVN/NIN as Non-Verified Wallets will be Frozen by January 31st
Following CBN’s Directive on strengthening Know Your Customer (KYC) procedures for Tier 1 accounts, fintech company PalmPay is encouraging users who have not yet complied with the requirements to do…
- 6 Jan 2026
Mandatory Biometric Verification for Starlink Users in Nigeria Begins
Users of satellite internet service provider Starlink in Nigeria are being required to complete a biometric Know Your Customer (KYC) process as a precondition to continue enjoying their services,…
- 4 Apr 2017
Firm Unveils Mobile Apps for BVN
In its quest to eliminate fictitious address verification during the mandatory Know Your Customer (KYC) procedure in banks and other financial institutions, DataPro, Nigeria’s leading compliance…
- 15 Jul 2021
VerifyMe Unveils NUBAN Verification Solution to Prevent Online Fraud
VerifyMe Nigeria, a digital identity verification and Know-Your-Customer (KYC) company, has launched a Nigeria Uniform Bank Account Number (NUBAN) verification solution and a Facial Liveness tool.…
- 16 Apr 2021
NIBSS Approves Standard Guidelines for BVN Matching System
The Nigeria Interbank Settlement System (NIBSS) has issued approved standard operating guidelines for Bank Verification Number (BVN) matching system, mainly for a harmonized way of verifying…
- 22 Nov 2024
EFCC Says Nigerian Banks are Notorious Conduits of Financial Crimes
Economic and Financial Crimes Commission (EFCC) has warned banks against making themselves available as instruments of fraud. Ola Olukoyede, charman, EFCC, issued the warning on Friday when the…
- 22 Feb 2024
How to Link Your NIN/BVN on the PalmPay App
The PalmPay app now has enhanced features allowing users to effortlessly add their National Identification Number (NIN) and Bank Verification Number (BVN) to their wallets while upgrading their Know…
- 23 Jan 2023
Over 50 Percent of Unbanked Population May Lose Savings to CBN's Currency Redesign - Report
Over 50 percent of Nigeria's unbanked population may lose their cash savings following the Central Bank of Nigeria (CBN)'s requirement that old notes could only be exchanged through an existing bank…
- 29 Feb 2024
PalmPay Issues Final Notice to Users to Link their NIN, BVN
Fintech company PalmPay has issued a final notice to its users to update their account with their National Identification Number (NIN) or Bank Verification Number (BVN) to prevent their PalmPay…
- 8 Oct 2017
Seamfix Set To Unveil Identity Management Solution 'BioRegistra'
By peter oluka Seamfix, Nigeria’s leading provider of identity management solutions, has announced plans to unveil an innovative data management solution to the Nigerian market. The solution, named…
- 18 Jan 2016
E-dividend Will Reduce Infractions – SEC DG
Mounir Gwarzo, director general of the Securities and Exchange Commission (SEC) has described the e-Dividend platform as a game changer in the market that will ensure that infractions are reduced to…
- 5 May 2022
Benin Republic Accounts are Risky, CBN Tells Banks
Central Bank of Nigeria (CBN) has warned banks and other financial institutions in the country to be vigilant as regards transactions involving Benin Republic. Godwin Emefiele, CBN governor CBN…
- 14 Sept 2015
NIBSS Partners Etisalat on BVN Query Service
The Nigeria Inter Bank Settlement System Plc (NIBSS) says over 20 million customers have been enrolled by banks in the ongoing Bank Verification Number (BVN). The organisation said in a statement…
- 10 Aug 2022
Azentio Software Recognized in Anti-Money Laundering Solutions
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that it has been named as a Contender in The Forrester Wave™: Anti-Money…
- 15 Apr 2021
SEC Accuses Operators of Frustrating eDividend Registration
Securities and Exchange Commission (SEC) on Thursday blamed some Capital Market Operators (CMOs) for frustrating the e-dividend mandate process, leading to rise in unclaimed dividends in the capital…
- 9 Sept 2020
EFCC Puts Bankers on High Alert ahead of Edo Elections
Economic and Financial Crimes Commission (EFCC), Benin zonal office, has advised Compliance officers of banks to report suspicious transactions to the Commission. This is coming as Edo State…
- 16 Apr 2021
Capital Market Operators Get April 30 Deadline to Renew Licences
Securities and Exchange Commission (SEC), has given Capital Market Operators, CMO, April 30, 2021, as deadline to renew their operation licences. Mr. Lamido Yuguda, director general of SEC, who…
- 21 Aug 2022
PalmPay Launches Wallet Safe Workshop to Improve Payment Security Awareness
PalmPay, a fintech innovator aims to make digital payment more accessible and flexible, today announces the launch of Wallet Safe Workshop, a monthly campaign for payment security awareness training…
- 22 Oct 2019
Carbon Launches Financial Services Platform for Businesses
Carbon, Nigeria’s foremost digital financial services company, has launched Carbon for Business, a digital financial services platform that provides startups, small and medium-sized enterprises…
- 2 Jun 2019
Operators Calls for Checks & Balances in SIM Registration
Ahead of Nigerian Communications Commission (NCC) notice of subscriber identity module (SIM) card registration audit of all mobile operators, some operators have started sending short message service…