The Central Bank of Nigeria (CBN) has recently released a Cyber Cyber-security Framework and Guidelines aimed at managing the technology platforms and infrastructure used in managing Deposit Money Banks, DMBs and Payment Service Banks, PSBs. According to the circular on the monetary policy guidelines to all Deposit Money Banks (DMBs) and Payment Services Banks (PSBs) […]
Following over two weeks of sustained complaints across the broad spectrum of the Nigerian public, including lawmakers in the National Assembly, on the potential negative implications of its cash withdrawal limits policy for national development, the Central Bank of Nigeria (CBN) has backed down on the controversial policy. In a circular issued on the latest […]
The Central Bank of Nigeria (CBN) has released guidelines for the operation of the Bank Neutral Cash Hubs (BNCH) in furtherance of its regulatory efforts to ease huge cash management, deepen financial inclusion and promote a sound financial system in the country. In a statement on its website, the apex bank disclosed that the release […]
The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday disclosed that as at the end of the second quarter of this year it had paid a total of N11.67 billion in insured sums to 535, 815 depositors of failed banks over the years. The corporation’s Managing Director, Mr. Bello Hassan, made the disclosure during its special […]
The Central Bank of Nigeria (CBN) has released a new regulatory template guiding all forms of electronic payments and collections for public and private sectors in the country. The apex bank stated that the monetary policy measure, which was taken furtherance of its powers under enabling Act 2007, was a revision of the Guidelines on […]
The Central Bank of Nigeria (CBN) has mandated all banks to comply with the statutory provision for the collection and remittance of the 0.005% levy on all electronic transactions by the businesses specified in the second schedule of the Cybercrime (Prohibition, Prevention, etc.) Act The apex bank gave this directive today in a Circular BSD/DIR/GEN/LAB/11/006 […]