By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has directed International Money Transfer Operators (IMTOs) to commence remittances pay-out in both Naira and foreign exchange to beneficiaries. It has also directed that the Investors and Exporters’ (I&E) window foreign ...

Temitayo Jaiyeola The Central Bank of Nigeria has mandated Financial Institutions to obtain the social media handle, e-mail addresses, telephone numbers, residential addresses, and more of their customers. This forms part of its new customer due diligence regulations and is in a bid to ...

By Emma Ujah, Abuja Bureau Chief & Elizabeth Adegbesan Banks, yesterday, increased cash payout to customers leading to a sharp reduction in the long queues and massive crowds that characterised the cash dispensary points in the last two and half months. This followed the sustained cash ...

The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has also directed all commercial banks to open for operation ...

By Emma Ujah, Abuja Bureau Chief Investigations have revealed that Deposit Money Banks (DMBs) have started receiving old N500 and N1000 notes again. Vanguard investigations have indicated that the banks have been receiving the old N500 and N1000 notes since the beginning of this week. A ...

By Abdul Babajide Shock and anger took over Ondo State on Monday as banks across the State refused to accept the old Naira notes from residents. The residents, most of whom are traders, had neatly arranged the money they made all through the weekend in anticipation of depositing it in ...

By  Okechukwu Nnodim Oil marketers have threatened to close their filling stations in protest against the rejection of old naira notes by deposit money banks across the country. It was gathered that the banks issued circulars to some of the filling stations, urging them to stop accepting the ...

By  Deborah Dan-Awoh The spate of migration among bankers in the country is giving stakeholders reasons to worry. DEBORAH DAN-AWOH writes on how japa has worsened the skilled manpower gap in the banking industry A former teller at Sterling Bank, Gift Akpan, left the shores of Nigeria for the ...

The Central Bank of Nigeria has directed commercial banks to start paying the new naira notes to customers over-the-counter in the banking halls. The development was confirmed in a statement on Thursday by the bank’s Director of Corporate Communications, Osita Nwanisobi. The apex bank assured ...

Adelani Adepegba, Sami Olatunji, Lilian Ukagwu, Damilola Aina, Oluwafemi Morgan and Daniel Ayantoye The Central Bank of Nigeria may be under pressure to extend the deadline for old naira notes to cease being legal tender as bankers and customers push for the extension. The old notes are ...