30 results
- 6 Oct 2020
CBN Approves New Cheque Standard for Banks
Central Bank of Nigeria (CBN) has approved a new cheque standard that will introduce new digit on the Magnetic Ink Character Recognition code line and expiry dates for new cheque books. Cheque book…
- 15 Feb 2026
CBN Slams Up to N10m Fine on Banks and Cheque Printers for Security Breaches
Central Bank of Nigeria (CBN) has introduced stricter penalties for banks and accredited cheque printers that breach the Nigeria Cheque Standard and the Cheque Printers Accreditation Scheme, with…
- 23 Nov 2009
Nigeria Ripe for Automated Self Cheque System
Encouraged by the deep penetration of ATM in the country, Mr. Yele Okeremi, the Managing Director and Chief Executive Officer of Precise Financial Systems (PFS) has declared that self-service cheque…
- 24 Jan 2021
Revised Cheque Book Becomes Fully Operational April 1- CBN
Central Bank of Nigeria (CBN) has advised all Deposit Money Banks (DMBs) accredited Cheque Printers/Personalisers, and the Nigeria Interbank Settlement System (NIBSS), to enlighten their customers on…
- 17 Oct 2023
CBN to Penalise Banks with MICR Reject by November 1
Central Bank of Nigeria (CBN) has said it will monitor the level of compliance by Deposit Money Banks (DMBs) in accordance with its recently issued circular on the Nigerian cheque standard and added…
- 16 Jun 2014
PFS Decorated @ IBSQ Awards
Aspire West Africa in collaboration with the Entrepreneurship and Leadership Initiative for Development at its annual international business conference in Ghana has conferred International…
- 4 Sept 2014
Court Freezes Dangote’s Accounts in 20 Banks
A Federal High Court in Lagos has ordered 20 Commercial banks in Nigeria to dishonour all withdrawal cheques from Mr. Sani Dangote, younger brother to Alhaji Aliko Dangote, and his companies, Dansa…
- 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…
- 19 Mar 2018
CBN Unveils Regulation for Payment of Bills
Central Bank of Nigeria (CBN) has unveiled regulations for the payment of bills in the country, explaining that the move was to document the minimum standards that must be complied with for the…
- 2 Feb 2009
Corruption: Nigeria to Save $2.6Bn with e-Payment
Nigeria will save some $2.6 billion annually with the implementation of the presidential directive on e-payment, an initiative that will check thievery endeavours of public officials, Nigeria…
- 28 Mar 2013
CBN Reviews Bank Charges to Stem Conflicts
Central Bank of Nigeria CBN, has reviewed all bank charges to provide a standard application in the banking industry according to a circular to all banks and discount houses, signed by Mr. I.T…
- 23 Aug 2010
CBN Proposes 10-digit Bank Account Number format
One and half years after continued upsurge in the volume of automated direct credits cleared through bankers clearing house, the Central Bank of Nigeria (CBN) has mandated banks to create and…
- 11 Jun 2013
Connectivity Problem Tops Challenges of PoS Usuage
Telecommunications network connectivity difficulties account for 58.5% of challenges merchants face in Point of Sale (PoS) transactions according to a field market research sponsored by Nigeria…
- 28 Sept 2009
Access to Finance Requisite for Economic Growth - EFInA
Enhancing Financial Innovation and Access (EFInA) in its finding has submitted that given significant financial sector reforms and private sector innovations, access to finance is poised for growth…
- 31 Jan 2014
Airtel Presents N10m to Promo Winner, Promises More
Airtel Nigeria, leading telecommunications operator, has finally drawn the curtains on the just concluded Airtel Red Hot Promowith the presentation of the ten million naira grand prize to the star…
- 8 Dec 2013
Banks Issue 14.72m Cards, Invests$2.5Bn on ATMs
The total number of Automated Teller Machine cards issued by commercial banks in the country hit 14.72million as at the end of July this year, indicating the growing popularity of the electronic…
- 10 Jun 2018
UBA’s LEO Sweeps across Africa, Launches in Cameroon, Zambia, CDI, Senegal, Congo
United Bank for Africa (UBA) Plc’s flagship Chat Banking personality, Leo, is set to change the face of e-banking across Key African markets following its launch in Cameroon, Zambia, Cote D’Ivoire,…
- 12 Jan 2018
UBA Introduces Leo, Chat Banking Personality on Social Media Platforms
United Bank for Africa (UBA), Pan-African financial institution, has changed the face of e-banking with the introduction of Leo, the UBA Chat Banker who enables customers make use of their social…
- 30 Sept 2019
Adequate, Credible ID Management will Foster Access to Credit - Heritage Bank Boss
Mr Ifie Sekibo, managing director /ceo, Heritage Bank has stressed the need for the federal government to work towards creating a credible and strong identity management towards expanding access to…
- 2 Jan 2024
CBN Bars Crypto Bank Account Operators from Cash Withdrawal
Central of Nigeria (CBN) has said that cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions According to the apex bank, withdrawals from these…
- 17 Sept 2019
FastCredit Adopts PFS’ Clirec for Accounts Reconciliation Solution for Business Growth
The leading financial technology company, Fast Credit has adopted Clirec, an integrated account reconciliation solution developed by Precise Financial Systems to ease its financial reconciliation…
- 17 Nov 2022
Wema Bank Increases Benefits on its Royal Kiddies Account for Children
Wema Bank, Nigeria's innovative financial institution, has rolled out a new benefit for parents and children on its bespoke children's savings account, Royal Kiddies Account (RKA), in a new campaign…
- 14 Apr 2015
MTN Business Supports MFIs’ Drive for Financial Inclusion
In a bid to enhance the operations of Nigeria’s Microfinance Institutions (MFIs), helping them reach out better to the country’s unbanked and financially underserved population, MTN Business, the…
- 27 Apr 2016
Nigerian, Team Mates Win £15,000 at SWIFT Fintech Competition
Nigerian Mohammed Dankwambo will share £15,000 with five other university students after their Fintech idea wowed judges at the SWIFT Business Forum London. The team called HADU from the UK's Warwick…
- 20 Nov 2019
Fintechs Dangle Loans Online without Collateral
A growing number of Nigerians are now getting loans to meet their daily financial needs, thanks to the boom in financial technology industry. Whether it’s a personal loan, medical loan, rent…
- 29 Oct 2017
iStore Nigeria Marks 5th Anniversary, As Apple Unveils iPhone 8 & 8 Plus
Last weekend was a mixture of good news and celebration at iStore outlet located at Ikeja City Mall, Lagos, as Apple unveiled its latest new generation products, iPhone 8 and iPhone 8 Plus to…
- 10 Aug 2010
Hackers Concentrate on Business Account
Cybercriminals are increasingly looking at business rather than consumer accounts to hack as banks scramble to shore up their defences, Nigeria CommunicationsWeek can now reveal. Investigations by…
- 10 Dec 2014
Welder, 4 Others, Emerge Millionaires in Airtel Promo
Customers of leading telecommunications services provider, Airtel Nigeria, have started reaping the rewards of Airtel Red Hot promo as five lucky Nigerians have emerged winners of N1 million…
- 2 Jul 2012
Growing Content Among Mobile Phone Users
As mobile phone use has grown since the mid 1990s, the significance of the devices in everyday life has grown accordingly. Owners of mobile phones can now use their devices to make calendar…
- 29 Jun 2009
Using Courier Business for what it is not
Courier service as an organized professional system of receiving items, packages, messages or documents is guided by variables such as security, speed and trust. In recent time the courier business…