Tag: CBN
CBN to fine banks N150 million for selling mint naira notes to currency hawkers
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The Central Bank of Nigeria (CBN) has threatened to impose a N150 million fine on any bank found…
CBN cracks down on Moniepoint, OPay with ₦1 billion fine each over regulatory violations
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The Central Bank of Nigeria (CBN) has intensified its oversight on the fintech sector, imposing ₦1 billion fines…
Nigeria’s USSD payments hit N2.19 trillion in 2024’s first half, but banks still owe telecoms N250 billion
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According to the Central Bank of Nigeria’s statistics on electronic payments, 252.06 million transactions totalling N2.19 trillion were…
CBN imposes penalties on banks for cash withdrawal violations
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On November 29, 2024, the Central Bank of Nigeria (CBN) announced a crucial directive for bank customers to…
Moniepoint eyes commercial banking license to expand financial services in Nigeria
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The latest Nigerian fintech unicorn, Moniepoint, is pursuing a commercial banking license from the Central Bank of Nigeria…
GTBank announces temporary service disruption to upgrade system
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Guarantee Trust Bank (GTBank) has announced a temporary service interruption to enable its transition to a new core…
CBN instructs payment service providers to start tracking PoS transactions
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The Central Bank of Nigeria (CBN) requires all Payment Service Providers to route all electronic or physical transactions…
Providus bank announces ₦3 trillion boost from strategic merger
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Providus Bank stated that the Central Bank of Nigeria (CBN) has granted preliminary approval for the merger with…
Network International unveils a $250M payment platform for telcos and banks
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Network International, a Dubai-based payment services provider, has launched its innovative $250 million digital payment platform, Network One,…
NOVA Bank pledges unmatched PHYGITAL banking experience for Nigerians
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NOVA Bank Limited, formerly NOVA Merchant Bank, has officially commenced operations as a national commercial bank. With the…
