Tag - CBN

CBN: Banks no longer allowed to sack more than 5 staff without approval

Central Bank of Nigeria (CBN) has given a stern warning to all banks that they must seek its approval if they must sack more than five staff. This was stated in the communique released by the Bankers Committee after its meeting on Friday. The committee, in a circular signed by Director, Financial Markets Department, CBN,...

REJECT N50 POS FEE, CBN TELLS CUSTOMERS

The Central Bank of Nigeria (CBN) has asked bank customers not to pay N50 charge to businesses for using point of sale (POS) machines. CBN Director payment system management department, Musa Jimoh, told The Cable that: “the stamp duty is a fee regulated by an act. The CBN doesn’t regulate the stamp duty so we...

BREAKING: CBN Slashes ATM Withdrawal Fee To N35

The Central Bank of Nigeria (CBN) on Sunday, announced a reduction on the withdrawal fee charged for the use of other banks’ Automated Teller machines from N65 to N35. CBN announced this as a part of a new Guide to Bank Charges. The N35 charge would be charged on the third withdrawal made in a month...

CBN SET TO RELEASE NEW BVN GUIDELINES TO TACKLE E-FRAUD

Mr Godwin Emiefiele CBN Governor The Central Bank of Nigeria (CBN) will soon release a new Bank Verification Number (BVN) guideline and set additional rule that will guide it in watch-listing fraudulent banks customers and tackling e-fraud, the apex bank has said. CBN Director, Payment System Management, Sam Okojere, who stated this at the Access Bank...

Ex CBN Boss, Sarah Alade Appointed Special Adviser on Finance & Economy.

President Muhammadu Buhari has approved the appointment of Dr Sarah Omotunde Alade, as Special Adviser to the President on Finance and the Economy, domiciled in the Ministry of Finance, Budget and National Planning. This information is contained in a statement by the President’s Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in Abuja...

Nigeria’s Access Bank is acquiring Kenya’s Transnational Bank to cement its pan-African ambition

Central Bank of Kenya grants Access Bank approval to acquire Transnational Bank of Kenya.Transnational Bank is one of Kenya's tier-4 bank and posted a $693,904 loss in 2018.The deal not yet completed, but it will see Access Bank taking over 93.57 % of the East Africa bank. The Central Bank of Kenya (CBK) has granted Access Bank, one...

Emefiele, Obiano, Others Unveil Coscharis’ N12bn Rice Mill

CBN Governor, Mr. Godwin EmefieleBy Obinna Chima The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele; Governor of Anambra, Mr. Willie Obiano; his Kebbi State counterpart, Alhaji Abubakar Bagudu and the Minister of State for Agriculture and Rural Development, Mustapha Shehuri, were among the dignitaries that unveiled Coscharis Farms’ N12 billion ultra-modern rice processing...