Point of Sale (POS) operators have been spotted in the Lekki area of Lagos State hawking new Naira notes as bank customers lament their inability to withdraw cash from ATMs. The operators charged N4,000 as a fee for N10,000 withdrawals. They displayed cash notes from N100 to N1000 for interested persons. This is coming a…

ACTIVITIES of cyber criminals appear to be on the rise as hackers were able to steal about N53.4 billion from banks in nine months. FITC Fraud and Forgery reports for the first, second and third quarters of 2024 revealed this loss. According to FITC, while there was a minimal loss of N468.4 million in Q1,…

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday revealed a new government policy that would permit Nigerians who currently hold dollars outside the formal banking system to return those funds into the financial system. Edun said such individuals have a nine-month grace period to comply with the directive without attracting…

Guaranty Trust Holding Company Plc (Group) has achieved a Profit Before Tax ( PBT) of ₦1.004 trillion in its half-year operations to become the first Nigerian financial institution to cross the ₦1 trillion mark in profit. The figure represents an increase of 206.6 per cent over ₦327.4 billion recorded in the corresponding period in 2023.…

A Lebanese judge Monday issued an arrest warrant for ex-central bank chief Riad Salameh, a judicial official said, after the embattled former governor was questioned in an embezzlement case. Salameh, 74, who headed the central bank for three decades, faces numerous charges including embezzlement, money laundering and tax evasion in separate probes in crisis-hit Lebanon and…

The Alternative Bank and TK Tech Africa are poised to transform the landscape of financial technology and non-interest banking with their innovative $500 million digital Sukuk initiative.

Mohamed Worku, a 31-year-old resident of Chicago, is making headlines again, just days after being acquitted of a previous bank robbery charge. The unusual saga began two years ago when Worku walked into a bank, handed a teller a polite note reading, “Give me the money please, thank you.” He left the scene with approximately…