CBN releases framework for safety, stability of financial system
The Central Bank of Nigeria (CBN) has released the Framework for Regulatory Sandbox Operations, to ensure the safety and stability of the Nigerian Financial System. The apex bank also is working to promote the use and adoption of electronic payments…
NPNEN sees crisis in CBN’s export procedures
The Network of Practicing Non-oil Exporters of Nigeria (NPNEN), has observed that the electronic Nigeria Export Proceed Form being required by the bank from exporters had come with enormous bottlenecks. The President, NPNEN, Ahmed Rabiu, said in a statement issued…
Financial sector shrinks further as CBN hits 42 MFBs
The Central Bank of Nigeria (CBN) weekend revoked the operating licences of 42 microfinance banks in the country. Nigeria Deposit Insurance Corporation (NDIC) said in its website in an announcement titled ‘Notice of closure of 42 microfinance banks’ that “This…
That former CBN’s Dep. Gov’s hint on $7Bn ‘dash’ to 14 banks in 2006
Poser: Was the $7bn taxpayers’ fund a bailout really of a surreptitious attempt by then CBN leadership to channel parts of Nigeria’s foreign reserves to select Nigerian banks for management which later turned ‘dash’ for the banks? Let’s start like…
Don seeks two-way regulatory authorities to tame collapse of banks’, others
A Senior Lecturer in Strategy, Corporate Governance and Risk Management, Lagos Business School, Pan Atlantic University, Lekki, Professor Franklin Ngwu, has called for immediate collapse of all financial regulatory agencies to two so as to give tailored supervision to the…
ATCON, Koenig Solutions India plan international summit on cyber security
Leading telecoms pressure group, the Association of Telecommunications Companies of Nigeria (ATCON), has concluded arrangement with Koenig Solutions Limited India to hold a 3-day intensive International Workshop on Cyber Security with the theme Emerging Cyber Security Threats and Countermeasures, slated…
Disquiet continues over BVN Court order as criminals fret customers with fake sms
As some consortium of banks gear up to challenge the court ruling ordering the forfeiture of money in accounts without verifiable Bank Verification Number (BVN), online fraudsters’ are now ambushing customers yet to comply with fake sms. Already, an unconfirmed…
UK investors willing to offset 9mobile’s $1.2b debt closes in on deal
Chances of local investors cashing in on acquiring cash-strapped 9mobile are fading as Nigeria’s fourth largest telecommunications service provider, is gearing towards sealing a deal with investors from the United Kingdom. Investigations by Business Hilights showed that key pointer to…
Issues MPC meeting may crack during next week’s meeting
Apart from a heated debate expected on whether to lower or still retain rates, the recent comment by a member of the Monetary Policy Committee (MPC), Dr. Doyin Salami, that the Central Bank of Nigeria (CBN) is acting like a…
Banks’ working collectively for early sale of 9Mobile—Okonkwo, Fidelity Bank CEO
As the 180 days window handed down to the receiver managers of 9Mobile continue to count, the managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has said that all the banks whose money is trapped are working together for…
