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First Bank Restates Commitment To Improved Services

First Bank Restates Commitment To  Improved Services

First Bank of Nigeria Limited says it is committed to improved customer service delivery. The lender, therefore, said it would continue to provide the best financial solutions to promote convenience and support the lifestyles of its customers. In a statement on Thursday, First Bank said, “The bank through the years has demonstrated an understanding of […]

Wema Bank inaugurates solar-powered mobile branch

Wema Bank inaugurates solar-powered mobile branch

Wema Bank Plc says it has launched a solar-powered mobile branch to make banking services available to everyone in all parts of the country. Mr Damola Bolodeoku, the bank’s Head of eBusiness, in a statement on Wednesday in Lagos, said the mobile branch was fitted with two automated teller machines (ATM). According to Bolodeoku, the […]

MasterCard Introduces New Digital Platform

MasterCard Introduces New Digital Platform

MasterCard, global technology company with presence in Nigeria, on Tuesday, launched a digital platform that connects smallholder farmers, agents, buyers and banks in East Africa. Tagged, ‘2KUZE’ which in Swahili means “Let’s grow together,” the platform enables farmers to buy, sell and receive payments for agricultural goods via their feature phones. According to a statement […]

Naira Depreciates Further Against Dollar

Naira Depreciates Further Against Dollar

The Naira on Thursday remained indifferent to the sale of over $250 million to licensed Bureau De Change (BDC) operators nationwide as it suffered another loss against the dollar. The report says  that the Naira inched against the dollar at the early hours of Thursday morning by 2 points but could not sustain the gain […]

Customers without BVN shouldn’t be banked, – NIBSS

Customers without BVN shouldn’t be banked, – NIBSS

The Managing Director, Nigeria Interbank Settlement System (NIBSS) Ade Shonubi, yesterday said customers that are yet to secure their Bank Verification Numbers (BVNs) should not be allowed to conduct banking transactions. Speaking yesterday at the launch of ficannews.com in Lagos, the NIBSS chief said those without BVNs should have no business with banks. He said […]

CBN Gov. Clash – With Atedo Peterside Over Forex Policy

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele; and the Chairman, Stanbic IBTC Bank Plc, Mr. Atedo Peterside, on Thursday disagreed over whether the flexible foreign exchange policy of the apex bank had been able to address the foreign exchange challenges in the country or not. They both spoke in Abuja at […]

Mobile Money Scheme Yet To Achieve Financial Inclusion Objective – NIBSS

Mobile Money Scheme Yet To Achieve Financial Inclusion Objective – NIBSS

  The mobile money scheme established by the Central Bank of Nigeria (CBN) to enhance financial inclusion is yet to achieve the objective, according to Ade Shonubi, managing director/CEO, Nigeria Interbank Settlement System (NIBSS). Some of the reasons given by mobile money operators are that the government is not encouraging them and that they have to […]

GT Bank Manager Denies In Court

GT Bank Manager Denies In Court

  Nwachukwu Amazu, head of the fund transfer unit of Guaranty Trust Bank (GT.BANK), on Wednesday denied knowledge of the documents his bank sent to the Economic and Financial Crimes Commission (EFCC) on Senate President Bukola Saraki. ‎Nwachukwu, who is the second prosecution witness in the trial of Saraki at the Code of Conduct Tribunal […]

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

The meeting held  between the Central Bank of Nigeria (CBN) and the Bureau De Change (BDC) operators last week was focused  on ways to improve liquidity and to reduce the huge spread between the inter-bank and parallel market rates. Part of the outcome of that meeting was an agreement on uniform exchange rate for the […]

Bitcoin and Central Bank Of Nigeria

Bitcoin and Central Bank Of Nigeria

The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency. The warning by the apex bank yesterday was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Mr. Kevin Amugo, Virtual currencies (VCs) such as […]

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