Browsing Tag

financial institutions

National Assembly to Bar Bankers from Operating Foreign Accounts

Paul Mbagwu Jun 7, 2021 0

The House of Representatives is considering barring staff members of banks and other financial institutions from operating accounts outside the shores of Nigeria. This was contained in the ‘Bank Employees, Etc., (Declaration of Assets)…

Government

Senate Commends Buhari Over Assent to Banks, Financial Institutions Act 2020

Kingsley Okoye Nov 14, 2020 0

The Senate has noted with satisfaction the assent of President Muhammadu Buhari to the Banks and Other Financial Institutions Act 2020 (BOFIA) following the passage of the bill by the senate. Sen. Ajibola Basiru (APC Osun),…

Government

FIRS Inaugurates AEOI-CRS System for Financial Institutions

Mustapha Sumaila Sep 6, 2020 0

The Federal Inland Revenue Service (FIRS) says it has inaugurated a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country. FIRS Director,…

Finance

NECA Commends CBN on New Charges Guide to Banks

Esenvosa Izah Dec 23, 2019 0

The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) on the new charges guide to banks and other financial institutions. NECA’s Director-General, Mr Timothy Olawale, who…

Finance

CBN introduces compulsory fees on deposits and withdrawals

News Agency of Nigeria Sep 18, 2019 0

The Central Bank of Nigeria, CBN , has taken extra measures to implement the nationwide cashless policy which will commence by March 2020 This was contained in a circular that was distributed to all Deposit money banks in the country.…

Government

NYSC partners financial institutions to secure soft loans for members

News Agency of Nigeria Nov 27, 2017 0

The National Youth Service Corps (NYSC) on Monday said it partnered some financial institutions in the country to provide soft loans for corps members to start business. The Director-General of the corps, Brig. Gen. Suleiman Kazaure,…

Business

Zenith Bank Beats First Bank To Become Largest Bank In Nigeria

Owolabi Oluwasegun Aug 27, 2017

First Bank PLC has been displaced from the top position as Nigeria's largest financial institution. Latest data showed that Zenith Bank Nigeria PLC has overtaken the financial institution with a total asset base of N4.9trillion as…

Business

CBN processes 10,003 complaints against banks, financial institutions in 7 years – Official

News Agency of Nigeria Jul 11, 2017 1

The Central Bank of Nigeria (CBN) on Monday said it successfully processed no fewer than 10,003 complaints against commercial banks and other financial institutions from 2010 to date. Mr Fada Banon of CBN’s Consumer Protection Department…

Tech

ICT, financial institutions’ commitment will enhance tourism development, say stakeholders

News Agency of Nigeria Jun 8, 2017

Stakeholders in the tourism industry had said in Lagos that more commitment from experts in Information and Communication Technology (ICT) and the financial sector would enhance the development of the nation’s tourism industry. They said…

Business

Osinbajo wants financial institutions keeping illicit funds to face consequences

News Agency of Nigeria Jun 5, 2017

The acting President, Prof. Yemi Osinbajo, on Monday urged banks and other financial institutions withholding illicit funds to be made “to face the consequences of engaging in criminal conduct“. Osinbajo said this in an address at the…