Banking Budgeting E-Payment Tech & Solutions Latest News Planning & Economic Development Technology Telecomms

BVN Registration Rises To 61.16Mn On March 15 – NIBSS

Nigeria Inter-Bank Settlement System (NIBSS) reported at the weekend that total registration for the Bank Verification Number (BVN) by bank customers in the country had increased to 61.16 million The NIBSS, in a report hoisted on its website indicated that as of last Friday, the BVN registrants totaled  61,166,384. In its earlier report published this […]

Banking Budgeting E-Payment Tech & Solutions Latest News Planning & Economic Development Political Economy Revenue Technology Telecomms

Nigeria’s E-payment Transactions Surge To N600Trn In 2023

Indications that Central Bank of Nigeria’s (CBN’s) efforts to digitalize the nation’s payment system and achieve a cashless economy are yielding the desired results have emerged with the electronic payment (E-payment) transactions’ value hitting over N600 trillion in 2023. The 2023 e-transactions value represented a huge surge from the N387 trillion transactions recorded in 2022, […]

Banking Budgeting Investments/Capital Market Latest News Planning & Economic Development Political Economy Revenue Technology

Nigeria’s Capital Market Unclaimed Dividends Hit N190Bn

The Securities and Exchange Commission (SEC) on Friday reported that the unclaimed dividends in Nigeria’s capital market had risen to about N190 billion as many investors failed to claim their investment return accruals. The Director-General of the commission, Mr. Lamido Yuguda, made this disclosure during the commission’s virtual second Capital Market Committee (CMC) briefing which […]

Banking

Nigerian Banks Lose N9.5bn To E-Frauds In 7 Months

The Nigeria Electronic Fraud Forum reported on Friday that Nigerian banking industry lost about N9.5 billion to electronic frauds in 2023, indicating that the digital infrastructure in the financial system are still subject to manipulation by cyber criminals. Worried by the negative implications of the surging rat of e-fraud for the economy, the Forum has […]

Banking Budgeting E-Payment Tech & Solutions Latest News Planning & Economic Development Technology Telecomms

Emefiele Seeks Stakeholders’ Support For SabiMONI Platform Operations

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has solicited financial system regulators operators and other stakeholders’ support for successful the operations of the newly launched SabiMONI e-Learning Platform by the apex bank in view of its immeasurable benefits to the economy. Emefiele made this appeal on Monday in his keynote address at […]

Banking Budgeting E-Payment Tech & Solutions Latest News Planning & Economic Development Technology

BVN Has No Expiry Date, CBN Clarifies

The Central Bank of Nigeria (CBN) on Wednesday debunked insinuations going on in social media that Bank Verification Number (BVN) issued to bank customers in Nigeria has expiry date, saying that those sending the wrong message are totally ill-informed. The apex bank, in a statement issued by its Director, Corporate Communications, Dr. Isa AdulMumin, maintained […]

Banking E-Payment Tech & Solutions Latest News Planning & Economic Development Technology Telecomms

Bank Customers’ Mobile Transfers Hit N19.4Trn In 2022

The Nigeria Inter-Bank Settlement System (NIBSS) has reported that bank customers transferred a total of N19.4 trillion over mobile devices last year, representing a 142% surge year-on-year (Y-o-Y) when compared to the N8 trillion mobile transactions in the preceding year. The agency also disclosed that the volume of mobile inter-scheme transactions rose by 151% year-on-year […]

Banking E-Payment Tech & Solutions Latest News Planning & Economic Development Technology Telecomms

Nigeria’s E-Transactions Value Up 42%, Hits N387Trn In 2022

The Nigeria Inter-Bank Settlement System (NIBSS) has reported that the nation’s electronic payment transactions (e-transactions) rose to N387 trillion in 2022, representing 42% increase over the N272 trillion recorded in 2021 as more Nigerians embrace cashless payments. The just released data on the NIBSS Instant Payment (NIP) transactions reflected that the e-payment surged month-on-month during […]

Banking Budgeting E-Payment Tech & Solutions Latest News Planning & Economic Development Technology

Nigeria’s Registered BVNs Rise To 56.5Mn In 2022

The Nigeria Inter-Bank Settlement System (NIBSS) has reported that 4.8 million new Bank Verification Numbers (BVNs) were recorded in 2022, thereby raising the total number of registered BVNs in the country to 56.5 million. The NIBSS had last year put the BVN volume at 51.7 million as at December 2021. The latest data by the agency indicated […]

Banking E-Payment Tech & Solutions Latest News Technology

CBN Reviews NIBBS’ Instant Payments System Operations, Others

The Central Bank of Nigeria (CBN) has reviewed upwards, the operations of the Nigeria Inter-Bank Settlement System (NIBSS) and other electronic payment operations. The monetary policy measure was contained in a circular issued by the apex bank’s Payments System Management Department, Mr. Musa Jimoh, and hoisted on the bank’s website. The Director stated that the […]