The Central Bank of Nigeria (CBN) has assured marketers and traders that it has made the redesigned Naira notes (1,000, 500, 200) available for them via Automated Teller Machines (ATMs). CBN’s Branch Controller for Lagos State, Mr Koyor Baribokola gave the assurance when the apex bank took its sensitization tour on the new naira notes to Balogun Market, Lagos, on …

The Nigerian Security Printing and Minting Plc (NSPM) have highlighted some features of the new naira notes in order to sensitize Nigerians who have expressed concern about the quality of the notes. In a statement on Friday signed by the Managing Director of NSPM, Ahmed Halilu, the company stressed the need to enlighten Nigerians on the features of the new …

A fintech company, PennyTree has redesigned its app to provide retail banking services for individuals and merchants looking to scale and grow their business operations. The co-founder of PennyTree, Abayomi Ogunjobi explained that the app was a necessary solution designed to provide individuals and merchants with the needed financial and business advisory and to find their foot in their industries …

The Nigeria Financial Intelligence Unit (NFIU) has banned cash withdrawals from accounts belonging to the Federal Government, all its agencies, and also state and local governments. This is effective from 1st March. NFIU also said that any government official that withdraws cash from public accounts risks investigation from the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission …

The Central Bank of Nigeria (CBN) has denied any wrongdoing in the recent sale of Polaris Bank. It also described claims that a higher offer was made during the bidding process to buy the Bank as spurious, malicious, and misleading. In a response to an online publication that another party made a higher purchase offer than what the apex bank …

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has announced the appointment of new directors across its subsidiaries. In a statement, the group said the appointments were in line with Stanbic IBTC’s succession plan and underscores its tradition of rewarding excellence, performance, and dedication. The appointees include Mr Babs Omotowa as an Independent Non-Executive Director, Olu Delano as …

The Nigerian Financial Intelligence Unit (NFIU) will on Thursday announce new guidelines on cash withdrawals from all government accounts. Last month, the Director and Chief Executive Officer of NFIU, Mr Modibbo Tukur said that the unit was putting all measures in place to stop cash withdrawals from federal, state, and local government areas’ bank accounts. He said: “Because of the …

National Coordinator and Special Envoy of Ecology and Marine International Human Rights Organisation, Alhaji Musa Saidu, has cautioned against inference in the ongoing investigations of alleged fraud by the Central Bank of Nigeria Governor, Dr Godwin Emefiele. Saidu told the News Agency of Nigeria on Tuesday in Abuja that the recent criticism against DSS investigations of N70 trillion alleged looted …

At least 6,047 Bank Verification Numbers (BVNs) have been added to the monitoring list of the Central Bank of Nigeria (CBN) for possible fraudulent activities, according to the CBN Financial Stability June 2022 report published this month. The report also noted that 11,871 BVNs have been watch-listed as deceased persons this year. The report disclosed that the apex bank conducted …

Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele has again failed to appear before the House of Representatives. His action on Tuesday makes it the second time he would refuse to honour the invitation of the lower legislative chamber on the cash withdrawals policy, which has generated intense controversy.. The House had summoned Emefiele to explain the latest policy …