Banking

All Nigerian banks have placed restriction on international transaction with Naira MasterCard. Spend limit has now been limited to $20 except First bank which is pegged at $50. What does this mean? It means is that Shopping online from…

It has been a rough period for importers of goods and services as different polices keeps emerging everyday. One of the recent is the reviewing a Naira master debit card to the minimum of $20 spend limit. Last month, the United Bank for…

United Bank of Africa (UBA) says it has lowered the international spending limit on its naira cards to $20 a month. The financial institution disclosed this in an email sent to its customers on Thursday. According to the bank, the…

Zenith Bank and Guaranty Trust Bank have retained their places on the list of Nigeria’s most valued banks for the first month of 2022. Last month that Zenith Bank started the new year as Nigeria’s most valuable commercial bank, with the…

Believers Loveworld Nation, popular known as Christ Embassy, has officially launched its own commercial financial institution, called Parallex Bank, with a view to redefining customer experience through digital innovation. Parallex was…

The Nigerian Central Bank Digital Currency (CBDC), known as the eNaira was officially unveiled yesterday by President Muhammadu Buhari and it's now live. The eNaira will serve as a digital legal tender and carries the same value as the…

The much anticipated Nigerian digital currency, e-Naira has finally been officially unveiled today at the country's State House in Abuja. mNaija recall that the Central Bank of Nigeria (CBN) had earlier announced that President Muhammadu…

The Central Bank of Nigeria, CBN, has announced that President Muhammadu Buhari will officially unveil the e-Naira on Monday, October 25, 2021. mNaija recalled that the CBN had on September 30 suspended the launch of its digital…

Nigerian billionaire businessman and investor, Femi Otedola, on Friday, reportedly took over First Bank of Nigeria Plc. According to The Street Journal, Otedola took over the bank with the acquisition of about ₦30 billion worth of…

The Central bank of Nigeria CBN recently postponed the launch of the eNaira indefinitely. The digital currency was supposed to be unveiled on October 1st, 2021. However, the postponement is not preventing banks from onboarding the eNaira…

The Central Bank of Nigeria (CBN) has suspended the launch of its digital currency, called e-Naira. This is coming hours to its scheduled launch on October 1st – Independence Day. The suspension of the launch was announced by CBN…

The Central Bank of Nigeria, CBN, has launched the official website for the upcoming digital currency, eNaira. The development is coming exactly a week to the planned launch of the initiative. According to analytics monitored by This…

The Central Bank of Nigeria (CBN) said that it has no plan to convert the foreign exchange in domiciliary accounts of bank customers into naira as speculated. This was disclosed by the Acting Director in charge of Corporate…

The Central Bank of Nigeria (CBN) has finally announced that it will be launching the pilot scheme of its digital currency on October 1, 2021. The Apex bank with its stakeholders outlined its digital currency initiative via a private…

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…

Peradventure you (or anyone around u) lose a phone, here is a guide to prevent financial losses. The thieves steal victims' money from their bank accounts using USSD. So in case anyone loses phone around you, quickly help deactivate…

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…

MTN customers in Nigeria now have alternative electronic payment platforms to recharge their phones as the mobile network operator on Saturday announced that customers can recharge airtime through payment solutions platforms such as…

A few days ago, telecom mobile operators withdrew the USSD shortcode service bank from their platform which means customers would have huge challenges in carrying out financial transactions via the USSD platforms. And now, Nigerians will…

The Central Bank of Nigeria (CBN) has announced a “Naira 4 Dollar Scheme” – an incentive for senders and recipients of international money transfers. The Apex bank made this known in a circular to international money transfer operators…