21 results
- 24 Mar 2020
FG to refund Firms 50 Percent of PAYEE over COVID-19
House of representatives has passed a bill requiring the federal government to refund to companies 50% of the income tax paid on employee salaries. The ’emergency economic stimulus bill’ introduced…
- 21 Dec 2022
CBN Reviews Cash Withdrawal Limits for Corporates, Individuals
The Central Bank of Nigeria has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The…
- 21 Dec 2022
CBN Recants Increases Weekly ATM withdrawal Limits from ₦100,000 to ₦500,000
The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.…
- 15 Dec 2008
Lagos Earns N120Bn from e-Service
Lagos State Internally Generated Revenue (IGR) hit some N120 billion in 2008, thanks to the burgeoning operational efficiency occasioned by the use of information technology in the state accounting…
- 5 Aug 2016
Nigerian Criminal eMail Syndicate Steals Millions from Companies
A criminal syndicate in Nigeria is stealing millions of dollars from companies around the world by intercepting their emails and diverting bank transfers, according to FT. SecureWorks, a cyber…
- 6 Dec 2022
CBN Limits Cash Withdrawals for Individuals to N100,000 Weekly
The Central Bank of Nigeria has directed deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities per week do not…
- 16 May 2021
SERAP Asks NASS to Identify Lawmakers Involved in Missing N4.1Bn
Socio-Economic Rights and Accountability Project (SERAP) has asked the leadership of the National Assembly to probe the N4.1 billion budgeted for the parliament alleged to be missing. SERAP in a…
- 20 May 2021
AUPCTRE Accuses CAC Boss of Fraud, Abuse of Power
Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees (AUPCTRE), has accused Alhaji Garba Abubakar, registrar-general of the Corporate Affairs…
- 14 Oct 2021
Clickatell to Unveil Chat Commerce Platform with New Payment Capabilities
Clickatell, a leader in mobile communications and chat commerce, announced it will unveil new payment capabilities via its Chat Commerce Platform at Money 20/20 Las Vegas, Oct. 24-27. Clickatell…
- 20 Jan 2023
Fraud Trends Every CFO Should Know
PwC’s Global Economic Crime and Fraud Survey 2022 revealed that 46% of organisations have experienced fraud, corruption, or other economic crimes in the last 24 months. Ryan Mer, CEO of eftsure…
- 2 May 2023
Four Technologies that can Drive Nigeria’s Cashless Economy
By Victor Irechukwu, Head of Engineering, OnePipe Waving your hand to pay after shopping at a store, or simply placing your mobile phone on the checkout counter could seem strange - at least to a…
- 31 Jul 2025
Banks Stops Instant Alerts for Cheques Pending Clearance
Banks in the country have begun suspending instant transaction alerts for cheques drawn from other banks until such cheques are fully cleared. This is in compliance with a recent directive from the…
- 26 Aug 2025
CBN Sets October 31 Deadline for Payment Companies to Comply with ISO 20022
The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to complete migration to the ISO 20022 messaging standard and implement…
- 12 Mar 2026
Court Freezes Bank Accounts of Petrocam, Founder over Alleged N9Bn Zenith Bank Debt
Federal High Court sitting in Lagos has ordered the freezing of bank accounts belonging to Petrocam Trading Nigeria Limited and Patrick Ilo, its founder, over an alleged N9.05 billion debt. Patrick…
- 28 Jul 2008
IT and Banking in Nigeria
In the last ten years, banks in developed economies have been investing more and more in information technology (IT) as a means of reducing costs as well as improving operational efficiency. In…
- 21 May 2026
Moniepoint Boosts UK Payments Security
African financial services platform Moniepoint has partnered with open banking software-as-a-service provider tell.money to deploy a transaction security system in the UK market. The companies said…
- 19 Jan 2009
Mobile Payment: Potential and reality for Nigeria
The ability to pay for goods and services without having to carry cash or cards has universal appeal. In Africa it is being driven by the need to reduce the risk of theft. The mobile is ideal…
- 8 Jun 2009
Mobile Money: Nigerians to Cash Naira on Cell Phones
Call it a revolution. Something big has hit the banking and telecommunications world. It is mobile money, whereby mobile handset has become the primary digital channel for provision of banking and…
- 2 Jul 2012
ALTECH in Fight against Telecom Capital Flight
In the last ten years, telecommunications business in Nigeria has been branded the fastest growing business in Africa and the world, with an investment turnover of $18 billion (N2.8 trillion) from…
- 2 Oct 2017
CBN Halts SMS Charges on Bulk Transfers
Money deposit banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS). The RTGS is an interbank funds transfer system on…
- 29 Mar 2019
Upperlink to Provide State Govts with Improved TSA Solutions
Upperlink Limited, has shown its readiness to provide state governments with an improved Treasury Single Account solutions, even as the company have won the 2019 edition of Central Bank of Nigeria ’s…