Punishment of banks, e-payment firms leaving on infractions begins April—CBN
The Central Bank of Nigeria (CBN), has set deadline of April 1, this year for resumption of sanction on banks, mobile money operators, switches and other payment system service providers that violate payment system rules and regulations. A circular signed…
Ecobank inks investment financing deal with Afreximbank
Ecobank Transnational Incorporated, the parent company of Ecobank Group has consummated new Memorandum of Understanding with the African Export-Import Bank to drive investment financing. President of Afreximbank, Dr Benedict Oramah, in a statement Wednesday said that the collaboration would open…
Heritage bank, others still withholding MDAs fund meant for TSA
More than one year after, the federal government has once again decried the resistance of some money deposit banks (MDBs) in effecting complete compliance to the Treasury Single Account (TSA) regime by remitting all funds belonging to MDAs. Otherwise, the…
TSA compelled MDAs to close 20,000 bank accounts in banks, saves N4.7bn monthly
Government has revealed that since the commencement of the Treasury Single Account (TSA) in September 2015, money deposit banks who had been riding on the deep pocket deposits of Ministries, Departments and Agencies (MDAs) have lost not only the custody…
