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Banking

Nigerian Banks Start Charging N6.98 For USSD Transactions

Nigerians who use Unstructured Supplementary Service Data (USSD) services are now being charged N6.98 for each transaction session. USSD allows users who don’t have access to a smartphone, data/internet connection or physical banking…

USSD War: Banks Unblock MTN Subscribers From Recharging

After 48 hours of blocking MTN customers from banking channels including the Unstructured Supplementary Service Data and banking apps, commercial banks on Sunday have reconnected MTN customers to banking channels. It was gathered that…

Ecobank Launches Money Transfer Via WhatsApp, SMS or Email

Ecobank Nigeria has launched a feature that allow its customers to transfer money via email, SMS and Whatsapp – which are new features available on the bank’s Mobile App. Ecobank customers can now transfer cash without the beneficiary’s…

Crypto Ban: Senate Summons CBN Governor, SEC DG

The Nigerian Senate on Thursday directed the the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele to appear before its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes, and Capital Market to…

CBN Bans Banks From Cryptocurrency Business

The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks (DMBs), Other Financial Institutions (OFIs) and Non-Bank Financial Institutions (NBFIs) local financial institutions against having any transactions in crypto or facilitating…

Access Bank launches digital payment platform for MSMEs

Access Bank Plc has launched an online payment acceptance service platform called Swiftpay. The platform is designed to help its Micro, Small and Medium scale Enterprises (MSMEs) customers to build scale, transition and participate actively…

CBN Shuts Down 42 Microfinance Banks (See Full List)

The Central Bank of Nigeria (CBN) has revoked the operating licences of 42 microfinance banks in the country. The report was made public on Friday in a statement titled "Notice of closure of 42 microfinance banks", by the Nigeria Deposit…

GTBank Name The 2020 Best Digital Bank in Nigeria

Guaranty Trust Bank (popularly known as GTBank) has been named the 2020 best digital bank in Nigeria in a survey conducted by Augusto & Co., a research and credit rating agency. According to the research firm, the lender ranked the…
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