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Banking
Emefele’s Aide Says e-Naira Wallet Will Address Scarcity Of Cash
Mrs Mary Fasheitan, the Special Assistant on Payment to the Governor of the Central Bank of Nigeria (CBN), says that usage of the digital naira called eNaira currency, will address the scarcity of cash in the country.
Fasheitan stated…
CBN Reacts To Viral News of Suspending Accounts of OPAY and PALMPAY
The Central Bank Of Nigeri (CBN) has reacted to viral news claiming that it has suspended the accounts of Fintech companies OPAY and PALMPAY.
Both OPAY and PALMPAY are one of the many licensed banks under the CBN mobile payment…
Banks To Open On Saturday And Sunday, CBN Begins Massive Deployment Of Naira Notes
The Central Bank of Nigeria (CBN) on Friday directed all Deposit Money Banks (DMOs) to open for operation on Saturdays and Sundays.
mNaija reports that the apex bank has also commenced massive deployment of banknotes from its vaults to…
CBN Stops Bank Agents From Using POS Terminals
Bank agents are now banned from using PoS terminals for transactions, according to new guidelines issued by the Central Bank of Nigeria (CBN).
The ban is part of a more extensive list of 16 prohibited activities for bank agents, which…
Kuda Launches SoftPos, Ends 25 Free Month Transfers to Other Banks
Nigeria’s first digital bank, Kuda, has introduced a new feature to its Kuda Business app, which includes Sales Mode, Kuda Payroll, and business registration.
Further, the digital bank will launch a SoftPoS feature, allowing users to…
Old Notes: Banks Won’t Take Them Back For Now – Banker Warns Nigerians
Bankers have warned Nigerians who are accepting old N1000 and N500 notes from their banks are doing so on their own.
This is because such customers would not be able to deposit the same old notes in banks at the moment until the Central…
Banks Resume Paying Nigerians Old 500, 1000 Naira Notes
Some commercial banks have started issuing out old N500 and N1000 notes to their customers.
It would be recalled that a seven-member panel of the Supreme Court had last Friday held that the old N200, N500 and N1000 notes remain legal…
Banks set to ban cash withdrawal by states, councils, Missions, others
The guidelines barring governors, ministers, foreign missions and other public servants from making cash withdrawals from public accounts will come into effect tomorrow.
Banks have notified their customers about the directive and urged…
CBN To Use eNaira For $800m Cash Transfer Scheme
In an effort to drive a cashless economy, the Central Bank of Nigeria has suggested the use of eNaira for cash transfers during the National Social Safety Net Programme Scale Up.
This was according to the National FinTech Strategy…
Naira Note Scarcity: CBN launches USSD for eNaira on Bullnet
The Central Bank of Nigeria (CBN) has launched the USSD channel of the Central Bank Digital Currency tagged the eNaira on Bullnet platform to boost the usage of the platform.
It was launched in Lagos on Thursday during an event to…
Naira Scarcity: CBN Denies Ordering Banks To Collect Old N1000 And N500 Notes
The Central Bank of Nigeria (CBN) has debunked report going round that it has directed commercial banks to collect old N500 and N1,000 notes is false.
The Director, Corporate Communication of the CBN, Osita Nwanisobi stated this while…
CBN Orders Banks To Start Collecting Old N500, N1,000 Notes
The Central Bank of Nigeria (CBN) has directed banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It however pegged the maximum amount the banks can collect at N500,000.
The CBN maintained…
3 Steps to Follow To Deposit Your Old N500, 1000 Naira Notes
I know you probably have enough of the old currency, and you are looking for a way to deposit it, despite the fact that Banks are not accepting it.
The banks had justified their action on the February 10 deadline given by the Governor of…
No Plan To Extend Deadline For Old Naira Notes – CBN
The Central Bank of Nigeria (CBN) has foreclosed the possibility of extending or shifting the deadline on the deposit of the old naira notes.
CBN Governor Godwin Emefiele apologised to Nigerians for not extending the deadline but stated…
7 Important Things to Know About The Deployed Unified CBN’s Credit Card
Back in October 2022, the Central Bank Of Nigeria (CBN) introduced the card which was expected to be launched in partnership with the Nigeria Inter-Bank Settlement Systems (NIBSS) and the Bankers Committee.
The Central Bank of Nigeria…
Emefiele Updates Buhari on Availability of New Naira Notes, Others
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Thursday, in Abuja updated President Muhammadu Buhari on the activities of the bank.
The CBN governor, who briefed the president, had earlier on Thursday morning…
CBN Domestic Card Scheme Takes Off
In line with its mandate to promote stability, inclusion and growth in the financial and payment system, the Central Bank of Nigeria (CBN) has introduced a national domestic card scheme that becomes effective on January 16, 2023.…
New Naira Notes: CBN Orders Commercial Banks Dispense Via ATM
The Central Bank of Nigeria (CBN) has directed commercial banks across the country to comply with its earlier directive on the dispense of New Naira Notes on their Automated Teller Machines (ATMs).
A statement dated Monday, January 9,…
Pyypl: How to Get Free Int’l Mastercard for global online transactions
Now that almost all the Naira Mastercards in Nigeria are being suspended from supporting international online transactions, here is an option to carry out your transactions online without stress.Â
There are different ways you can do…
Zenith suspends naira MasterCard for international transaction
Just like Guarantee Trust bank and others have announced the suspension of their Mastercard for international transactions, Zenith bank has decided to also follow suite.
The commercial bank has sent an email to all customers that its…
