The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to implement automated anti-money laundering (AML) systems capable of detecting suspicious financial transactions and strengthening compliance with
The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate by 50 basis points to 26.5%, signalling growing confidence that inflationary pressures are easing and economic stability is
The Federal Government has announced a change to the application of stamp duty on electronic bank transfers, with senders now required to pay the ₦50 levy on transactions of ₦10,000
New safeguards target high-value withdrawals and online payments as regulator moves to curb fraud and improve card access for tourists and diaspora Nigerians The Central Bank of Nigeria (CBN) has
The Central Bank of Nigeria (CBN) has proposed a sweeping overhaul of penalties for issuing dud cheques, introducing a renewable five-year ban for individuals who repeatedly violate cheque-issuance rules across
The Central Bank of Nigeria (CBN)’s plan to take over control of the fixed-income market has stirred tension in the financial sector, with analysts warning that it could cause a
The Federal Competition and Consumer Protection Commission (FCCPC) has expressed strong support for the Central Bank of Nigeria’s proposed guideline mandating banks to refund customers for failed Automated Teller Machine
The Central Bank of Nigeria (CBN) has rolled out a comprehensive reform for the country’s agent banking sector, setting a ₦1.2 million daily limit for PoS agents and a ₦100,000
