“Having lost a potentially “lucrative” line of “business,” the sacked characters returned to the drawing board to formulate one form of trick or another to intimidate the government but the vigilant teams of the administration kept them at bay.”
Tag: Nigerian Inter-Bank Settlement System (NIBSS)
CBN Issues More Guidelines On Diaspora Remittances, To Sanction Violators
The Central Bank of Nigeria (CBN) has issued additional guidelines to International Money Transfer Operators (IMTOs) and Payment Service Providers (PSPs) clarifying some misunderstanding of some of the players about its recent policy pronouncements on Diaspora remittances. The apex bank, in a circular with Reference No PSM/DIR/CON/CWD/16/119 dated December 16, 2020 titled ‘Receipt of Diaspora […]
Financial Inclusion Will Catalyse Economic Growth – Uduk
The Securities and Exchange Commission (SEC) has restated its desire to pursue initiatives that would aid financial inclusion of Nigerians as this is capable of growing the nation’s economy. Acting Director General of the Commission, Ms. Mary Uduk, gave this assurance in her remarks at the 2018 PEARL Awards Night held at the weekend in […]
CBN, NIBSS, Banks Take BVN Enrolment Drive To LGAs
In furtherance of their collaborative efforts aimed at deepening financial inclusion in the country, the Central Bank of Nigeria (CBN), the Nigeria Interbank Settlement System (NIBSS), commercial banks and mobile operators on Tuesday unveiled plans to take the Bank Verification Number (BVN) enrolment exercise to the grassroots. Under the arrangement, the regulators and operators plan […]
Nigeria’s Banking Fraud Losses Hit N12.3Bn In Four Years
Nigeria’s banking industry lost N12.30 billion to various frauds, involving 41,461 cases, between 2014 and 2017. The Managing Director of Nigerian Inter-Bank Settlement System (NIBSS), Mr Adebisi Shonubi, made this disclosure at the third Annual Banking Security Summit, with the theme: “Digital Channels & Open Banking Security,” organised by MAXUT Consulting, in partnership with OneSpan, […]