12 results
- 13 Apr 2021
CBN Asks Banks to Get on Its Central Credit Management Platform
Central Bank of Nigeria (CBN) has mandated all development finance institutions (DFIs), microfinance banks (MFBs), primary mortgage banks (PMBs) and finance companies (FCs) operating in the country…
- 26 Apr 2018
CBN to Punish Banks, Directors for Money Laundering Offences
Central Bank of Nigeria (CBN) has reeled out new regime of sanctions which includes punishments for banks, their directors as well as huge fines against financial institutions found culpable of any…
- 10 Feb 2021
CBN Asks Banks to Accept Travel Documents Valid ID
Central Bank of Nigeria (CBN) has directed commercial banks to accept Machine Readable Travel Documents (MRCTD) and Refugee Identification Card, as means of identification for transactions. The…
- 1 Mar 2018
CBN Cautions on Crypto Currency Investment
Central Bank of Nigeria (CBN) has again cautioned Nigerians to be wary of investments in crypto currency as they are virtual currencies that are not legal tender in Nigeria. Mr Isaac…
- 9 May 2017
CBN Hikes Cards Maintenance Fee
Central Bank of Nigeria (CBN) has hiked fees charged by banks on debit and credit card maintenance from N100 a year to N50 per month. The new tariff regime takes effect from May 1, 2017, as part of…
- 17 May 2017
CBN Caps Transaction Alert Fees to N4 per SMS
Central Bank of Nigeria (CBN) has capped the fees charged by the banks on transaction alerts to N4 per SMS. The apex bank also restricted alerts to customer-induced transactions only. The CBN…
- 29 Aug 2019
CBN Says No Credit to Firms, Individuals Without TIN, BVN
Central Bank of Nigeria (CBN) has mandated commercial banks to stop lending to firms without Tax Identification Number and individuals not having Bank Verification Number (BVN). This was…
- 24 Oct 2018
CBN Hikes Capital Requirements for Microfinance Banks
Central Bank of Nigeria (CBN) has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The…
- 6 Sept 2016
CBN to Sanction Banks over Power Fund
Central Bank of Nigeria (CBN) has threatened to sanction any of the participating deposit money banks that contravenes the terms and conditions of the Nigerian Electricity Market Stabilisation…
- 1 May 2020
CBN Extends Deadline for Recapitalisation of MfBs to April 2022
Central Bank of Nigeria (CBN) has extended the deadlines issued to Microfinance banks (MfBs) to comply with its revised minimum capital requirements. Mr. Godwin Emefiele, CBN governor This was…
- 20 Aug 2020
CIBN Urges Stability of Financial System
The Chartered Institute of Bankers of Nigeria, CIBN, has stressed the need to create stability within the financial system which it said will go a long way in promoting economic prosperity of the…
- 29 Nov 2020
Competence Test: CBN Begins Screening of all Banks’ Workers
Central Bank of Nigeria (CBN) has written to all banks and other financial institutions to furnish it with details of their staff competence levels. According to a letter dated November 26, 2020,…