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Electronic Fraud To Hit N6.1 Trillion By 2021 – CBN | AIT, AIT News, AIT Online :: News :: Africa Independent Television

The director, consumer protection department, CBN, Sunday Salam-Alada disclosed this at a workshop in Benin, Edo state. According to him, the volume and value of e-transactions is projected to continue to increase nationally and globally. Salam-Alada, said it was due to broader ecosystem scope, evolution of channels, adaptability to disruptive innovations and modes of payment. […]

New Nigeria Eurobond Issues Trade to Discount despite Early Rally

Thursday, November 15, 2018/ 08:05PM / Zedcrest Capital ***Nigeria cannot attain 40bn barrels oil reserve*** – NAPE KEY INDICATORS Indicator Value Commentary Inflation 11.28% As at October 16, 2018, 5bps up from 11.23% recorded in August 2018. […]

Naira Under Increased Pressure In The Forex Market

Thursday, November 15, 2018 / 01:10 PM / FDC   Global oil prices (Brent) have averaged $73.07pb in 2018 and remained comfortably above the budget benchmark of $51 per barrel (pb), largely due to high demand and the output-cut led by the Organization of the Petroleum Exporting Countries (OPEC) and its allies. This has ultimately translated to stronger external buffers […]

Senate Asks NNPC, CBN To Explain Withdrawal Of $1.2b

The Senate Committee on Gas has asked NNPC and Central Bank of Nigeria (CBN) to submit documents on the withdrawal of $1.2 billion from the …

Naira gains 50k against dollar at parallel market

  The News Agency of Nigeria(NAN) reports that the naira had exchanged at N361.5 to the dollar on Tuesday. The Pound Sterling and the Euro closed at N475 and N412.5, respectively. At the investors’ window the naira exchanged at N364.23 to the dollar as market turnover stood at 169.98 million dollars. Trading at the Bureau […]

CBN sets new minimum capital for mobile money operators

In a guideline issued by the Central Bank of Nigeria (CBN), the apex bank has pegged the minimum capital deposit for telcos with intent to deepen financial inclusion in Nigeria through mobile money services at N5 billion. While mandating that an evidence of the payment of N5 billion must be provided when applying for an […]

These Seasoning cubes are setting the Nigerian food market on fire

Over the years, food seasoning has formed a very important aspect of cooking. Even before the introduction of modern food seasonings in cube and powder forms, there have been several local seasonings, such as Iru, Ogiri, and Dawadawa— all of which still feature in most Nigerian cooking pots till today. Food seasoning is important because […]

Why General Electric pulled out of Nigeria’s rail project

General Electric (GE) says it is pulling out of the Nigerian railway concession project and handing it over to Transnet SOC Limited. This according to GE is in line with its business strategy to exit transportation business and focus on power and healthcare infrastructure. Recall that GE won a contract last year to manage Nigeria’s […]

Metrofile Group appoints Babatunde Osho as Nigerian CEO

Leading information and records management company, Metrofile Group, has announced the appointment of Mr. Babatunde Osho as it’s new Managing Director for Nigeria. Before this appointment, Mr. Babatunde Osho had worked with MCI International as a Senior Manager and NEC 3G Mobile Systems Limited in the UK as Head of Finance before joining MTN in […]

Nigerian governors reject 30,000 naira ($82) pay deal for workers

Nigerian governors have rejected a deal to raise the minimum wage to 30 000 naira ($82) from 18 000 naira a month, a move that could trigger fresh labour unrest. A planned nationwide strike was averted early this month after a negotiating committee made up of union representatives, the government and private sector recommended the […]

CBN Refunds N73bn To Bank Customers

Bank customers have been saved the ordeal of losing a whopping N73.26billoom by the Central Bank of Nigeria (CBN) to fraudulent transactions. Giving a scorecard on its consumer management, the CBN said that it had resolved 13,715 complaints through its Consumer Protection Desk resulting in the refund of N73.26 billion to them. The apex bank […]

Forex: CBN Sanctions 12 Banks For Frustrating Small Businesses

By Mayowa Tijani The Central Bank of Nigeria (CBN) has barred at least 12 deposit money banks (DMB) from the SME window of the foreign exchange market for flouting regulations, as it relates to small businesses. A senior official of the CBN told TheCable that the financial regulator took the decision to bar the erring […]

Naira gains 50 kobo against the dollar at parallel market – The Eagle Online

Naira gains 50 kobo against the dollar at parallel market – The Eagle Online We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok

Banks refund N73bn to customers as CBN resolves 13,715 complaints ::

    *E-fraud loses to hit N6.1 trillion by 2021By Babajide Komolafe and Prince OkaforThe Central Bank of Nigeria, CBN, Wednesday disclosed that it has so far resolved 13,715 complaints from banks’ customers with banks refunding N73.27 billion to their customers. The Director, Consumer Protection Department, CBN, S.K Salam-Alada, made this disclosure today at the […]