30 results
- 3 Aug 2021
CBN Sets N1m as Application Fee for PSHCs Licence
Central Bank of Nigeria (CBN) released guidelines for the establishment and regulation of payments service holding companies (PSHCs) in Nigeria. Musa Jimoh, CBN’s director of payments system…
- 13 Mar 2020
CBN Extends NUBAN to other Finance Institutions
Central Bank of Nigeria (CBN) has reviewed the Nigeria Uniform Bank Account Number (NUBAN) to include other finance institutions. A circular signed by Musa Jimoh, director, Payments System Management…
- 25 Jan 2023
CBN Debunks Scarcity of New Naira Notes
Central Bank of Nigeria (CBN) has denied scarcity of the new naira notes as alleged by some Nigerians. Godwin Emefiele, CBN Governor, represented by Musa Jimoh, Director, Payment System Management…
- 9 Mar 2023
CBN Approves Guidelines for Open Banking in Nigeria
Central Bank of Nigeria (CBN) has approved operational guidelines for open banking in Nigeria. The guideline was released via a circular by Musa Jimoh, the Director of the CBN’s Payments System…
- 4 Jan 2021
CBN Fixes N2Bn Capital for Mobile Money Operators
Central Bank of Nigeria (CBN) has directed in a circular signed by Musa Jimoh, its director, Payments System Management Department that Mobile Money Operators (MMOs) are to maintain a minimum of N2…
- 31 May 2021
CBN Releases Framework for Non-Bank Acquiring
Central Bank of Nigeria (CBN) has released regulatory framework guiding the operations of non-bank acquiring in the country. Mr. Godwin Emefiele, CBN governor A circular issued by Musa Jimoh,…
- 18 Jun 2025
NIBSS National Payment Stack to Transform Nigerian Instant Payments
Nigeria Inter-Bank Settlement System (NIBSS) has launched the National Payment Stack (NPS), a payment infrastructure aimed at redefining digital payments in Africa and building on the introduction of…
- 25 May 2024
CBN Sacks 300 Staff, 14 Directors Affected
Central Bank of Nigeria (CBN) has reportedly sacked about 300 staff members amongst them 14 directors. The layoff of the staff brings the list of those so far disengaged from the bank under Olayemi…
- 7 Aug 2020
FirstBank Processed N6 Trillion Transactions Via FirstMonie — Adeduntan
First Bank of Nigeria Limited has said that it has processed transactions worth over N6 trillion on its FirstMonie Agent network as at July 2020. Dr. Adesola Adeduntan, chief executive officer,…
- 24 Dec 2019
FG Stops N50 Charge on POS Transactions, Says It is Illegal
Federal Competition and Consumer Protection Commission (FCCPC) has stopped the additional N50 charge being imposed on transactions conducted on Point of Sale (POS) machines. This was made known in a…
- 10 Sept 2025
CBN Unveils PSV-2028 fto Drive Inclusive Financial Ecosystem
Central Bank of Nigeria (CBN) has kicked off the development of a new strategic framework for the country’s payments ecosystem with the launch of the Nigeria Payments System Vision 2028 (PSV 2028),…
- 7 Aug 2020
CBN to Rejig Payment System Vision Strategy
Central Bank of Nigeria (CBN) has unfolded plans to review backward its 10-year Payment Systems Vision (PSV-2030) strategy, which will now span a five-year strategy and rechristened as PSV-2025. Mr.…
- 10 Dec 2020
9mobile, CBN, Ecobank, Others Brainstorm Deepening Financial Inclusion in Nigeria
As part of efforts to promote financial inclusion among the unbanked and underbanked population in Nigeria, innovative telecoms brand, 9mobile, joined Ecobank, Vanguard Newspapers, Sanef, and other…
- 4 Aug 2021
CBN Bars PSHCs from Accessing Bank Loans
Central Bank if Nigeria (CBN) has barred the proposed Payments Service Holding Companies (PSHC) from borrowing from the Nigerian banking system for the purpose of capitalising itself or any of its…
- 9 Sept 2021
CBN Directs Banks, PSBs to Disaggregate Bulk Payments
The Central Bank of Nigeria (CBN) has instructed banks and Payment Service Providers (PSBs) to separate all transactions that would normally categorised as bulk payment upon transition. The apex bank…
- 14 Oct 2021
CBN Asks Banks to Report Dead Customers’ BVN to NIBSS within 24hrs
Central Bank of Nigeria (CBN) has directed banks and other financial institutions to report Bank Verification Number (BVN) of all dead customers to Nigeria Interbank Settlement System (NIBSS) within…
- 23 Nov 2021
eNaira: CBN Rallies PSPs, Fintechs to Deepen Adoption
The Central Bank of Nigeria (CBN) yesterday said it was working with key stakeholders in the payment system ecosystem to boost the adoption of its digital currency known as the eNaira. The…
- 21 Dec 2021
CeBIH Seeks Collaboration to Fix Challenges Facing e-Business Industry
Adeyemi Atanda, the Chairman of the Committee of E-Business Industry Heads (CeBIH), has stated that the challenges facing the e-business industry in Nigeria could be fixed if more collaboration is…
- 2 Oct 2022
CBN and NIBSS Raise over Rising Internet Fraud
Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) have expressed worry over the growing menace of Internet fraud in the financial services sector. They wondered why…
- 15 Mar 2026
CBN Tightens BVN Rules to Curb Fraudulent Banking Transactions
Central Bank of Nigeria (CBN) has introduced stricter Bank Verification Number (BVN) enrolment and data access rules to prevent suspected fraudulent transactions, effective May 1, 2026. This was…
- 8 Dec 2008
ValuCard Makes Money Transfer Easy with V-Money
ValuCard Nigeria (VCN) Plc has unveiled the V-Money Transfer, to enthrone cashless transactions and reinforce their leadership role towards a cashless economy. Kyari Bukar, managing director,…
- 25 Oct 2016
Microsoft, ISSAN Collaborate to Raise Cyber Security Awareness
Microsoft Nigeria has called on individuals and organizations to pay needed attention to ensuring cyber security in the face of global cyber threats. This call was made at a Cyber Security Summit…
- 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…
- 22 Jun 2018
CBN Puts Unbanked Population @ 37%
Barely two years to the 2020 target to reduce unbanked Nigerians to 20 per cent the Central Bank of Nigeria (CBN) has said the country’s unbanked population currently stands at 37 per cent. Mr Dipo…
- 11 Nov 2018
Lack of Regulation in Blockchain Space Forces Investment out of Nigeria
The inability of Central Bank of Nigeria (CBN) to provide regulatory framework that will guide financial services using blockchain technology is taking toll on the economy as investments meant for…
- 7 Apr 2019
Anxiety as Fintechs Prepare to Shake up Banking Sector
As stakeholders in the country’s financial ecosystem awaits the central bank of Nigeria new regulation on Fintech operations, there are anxiety about the impending shake-up of the banking service…
- 22 Jul 2019
First Bank Leverages Digital Innovations to Promote Financial Inclusion
First Bank of Nigeria Limited has organised a joint seminar with sub-Saharan African banking and telecom regulators to promote financial inclusion through digital innovations in sub-Saharan Africa.…
- 8 Sept 2019
EcobankPay, Xpresspoint Agents Leveraging Technology to Expand Financial Inclusion - Akinwuntan
Patrick Akinwuntan, managing director, Ecobank Nigeria, has disclosed that the Bank is leveraging technology to push the frontiers of financial inclusion of the unbanked and under-banked in the…
- 15 Nov 2019
ALMPO announces theme, speakers for Mobile Money conference 2019
The Association of Licensed Mobile Payment Operators (ALMPO) is set to host the 2019 Mobile Money Conference. The theme for this year’s event is; Mobile Money: “Beyond Payments” . The august event is…
- 24 Nov 2019
Eziukwu, Group CEO BlueTag to Keynote 2019 Mobile Money Conference
Mr. Uzo Eziukwu, group ceo, BlueTag Group, has been scheduled to present the keynote presentation as the Association of Licensed Mobile Payment Operators (ALMPO) is set to host the 2019 Mobile Money…