Bank’s
6 hours ago
Nigerian comedian and filmmaker, Ayo Makun, popularly known as AY, has said the small deductions by banks on customers’ accounts need to be challenged. AY made this known on Tuesday, April 1, 2024, via his verified X handle, where he questioned how banks continue to make huge profits while the average Nigerian struggles to survive.…
27 Feb
The Nigeria Deposit Insurance Corporation (NDIC) has appealed for the continued support of external solicitors’ of the Corporation in facilitating debt recovery and assets realisation of failed banks. Mr Hassan Bello, the Managing Director of NDIC, made the appeal at the 2024 Sensitisation Seminar for External Solicitors of the NDIC in Abuja on Thursday. Bello,…
30 Jan
The number of active bank accounts in Nigeria surged to 311.65 million as of December 2024, reflecting a significant increase in financial inclusion, according to the latest data from the Nigeria Inter-Bank Settlement System (NIBSS). The figures indicate a 48.89% rise in active accounts within 12 months, up from 209.31 million in January 2024.…
15 Jan
A human rights advocacy group, also known as Global Rights, has accused one of the Nigerian new generation banks of using its influence to suppress press freedom. The organization criticized the bank for its role in the ongoing detention of four journalists, describing the act as a "weaponization" of the criminal justice system to…
15 Jan
Telecommunications operators have been authorised to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions due to unpaid debts. This directive was given by the Nigerian Communications Commission (NCC) in a public notice, Wednesday, signed by the Commission’s Director of Public Affairs, Reuben Muoka. The NCC said affected banks must settle…
7 Jan
One of the opposition parties in the country, the Labour Party (LP) Ebonyi, on Tuesday, encouraged Governor Francis Nwifuru of Ebonyi State to invest more in agriculture and the building of industries, noting that if properly utilized, these sectors could tackle the economic hardship facing the state. The Secretary of the Ebonyi State chapter of…
5 Dec
The Nigeria Customs Service (NCS) Port Terminal Multiservices Limited (PTML) Command has said it is integrating 25 banks into the B'Odogwu, its indigenous payment and clearing platform, to address the delay in transactions for agents and address teething challenges facing the trade portal. The Customs Area Controller of the command, Tenny Daniyan, while addressing journalists…
4 Dec
The Nigeria Deposit Insurance Corporation (NDIC) has initiated the process of realising the assets and recovering debts from defunct banks to activate payment of uninsured depositors through liquidation dividends. Additionally, the corporation assured compensation for depositors of defunct banks whose balances exceed N5 million. NDIC Managing Director, Mr Bello Hassan, stated this on Wednesday at…
2 Dec
The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications and aviation sectors. In a statement issued yesterday in Abuja signed by the Commission’s director of corporate affairs, Ondaje Ijagwu, the FCCPC said the inquisitions, which will begin December 3 through…
1 Dec
The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors. The Director, Corporate Affairs of the FCCPC, Ondaje Ijagwu, made this known on Sunday in a statement on the official X account of the commission. The inquisitions, which…
1 Dec
Nigerian banks significantly reduced their borrowing from the Central Bank of Nigeria (CBN) in November 2024, as the rising Monetary Policy Rate (MPR) made borrowing more expensive. According to a report by the apex bank, the CBN's financial data revealed that banks borrowed N9.97 trillion in November, a 44.9% decrease from the N18.09 trillion borrowed…
29 Nov
The Central Bank of Nigeria (CBN) has warned that it will impose fines on erring financial institutions over the ongoing cash scarcity at Automated Teller Machines (ATMs). CBN Governor, Dr. Olayemi Cardoso, made this announcement on Friday during the annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria. Reports of cash shortages…
Latest
7 mins ago
The Lagos State Traffic Management Authority (LASTMA) has warned commercial bus operators, particularly drivers of minibusses, colloquially known as ‘Korope,’ regarding their continued violations of traffic regulations, specifically unauthorized route deviations and illegal parking along the city’s roadways. This warning, announced by the Special Adviser to the Governor on Transportation, Sola Giwa, comes as part…
12 mins ago
The former Primate of the Church of Nigeria in Anglican Communion, Most Rev. Nicholas Okoh, and the Head of the Department of Religious Studies at the University of Ibadan (UI), Prof. Olumuyiwa Olusesan Familusi, have urged President Bola Tinubu to rescue, revive and revamp public universities rather than approve new ones. The duo made the…
17 mins ago
The opposition Peoples Democratic Party (PDP), the All Progressives Congress (APC), and Governor Monday Okpebholo on Tuesday have all expressed confidence that the Governorship Election Petition Tribunal will deliver judgment in their favour. The three-man tribunal headed by Justice Wilfred Kpochi had reserved judgment in the petition after the parties adopted their final written addresses…
29 mins ago
Controversial Nigerian crossdresser, Idris Okuneye, better known as Bobrisky, has retracted his claim of being arrested by immigration officers. He said the post was nothing but an April Fool’s Day joke. The drama started on Monday, April 1, after Bobrisky took to Instagram and wrote, “Guys, have just been arrested by immigration in Nigeria. I…
29 mins ago
Gov. Seyi Makinde of Oyo State on Tuesday, visited the Aleshinloye market, Ibadan, where a section got burnt on March 12. Makinde, while on-the-spot assessment of the incident, ordered suspension of the planned demolition of the burnt section until a proper alternative had been provided for the affected traders. The News Agency of Nigeria (NAN)…
51 mins ago
Former Lagos State governorship candidate, Gbadebo Rhodes-Vivour, has criticised Governor Babajide Sanwo-Olu for issuing an Executive Order on the Social Health Insurance Scheme that mandates a ₦15,000 monthly contribution from every Lagos resident. In a statement on Tuesday, Rhodes-Vivour acknowledged the good intentions behind universal health coverage, but found fault in the flat-rate approach, saying…
1 hour ago
Nigeria Security and Civil Defence Corps (NSCDC), Osun State Command has apprehended a male school teacher, identified as Ahmadan Rufai Akorede, for allegedly molesting a seven-year-old female pupil in Ilesa. Corps Public Relations Officer, Kehinde Adeleke, in a statement, revealed that the 22-year-old teacher abused the pupil sexually by thrusting his manhood into her mouth…
1 hour ago
Lagos State generates an average of 13,000 tonnes of waste daily, the state waste management agency has said. Dr Muyiwa Gbadegesin, Managing Director of Lagos State Waste Management Authority (LAWMA), gave the figure in an interview with the News Agency of Nigeria (NAN) in Lagos. Gbadegesin said that the authority had been effectively evacuating the…
1 hour ago
Erstwhile Minister of Interior and retired Merchant Navy Captain, Emmanuel Iheanacho, has disclosed that the Imo Harmony Project (IHP) is working round the clock to ensure orderliness in the leadership recruitment in Imo State. He noted that contrary to insinuations in some quarters, IHP and other groups rooting for equity in the distribution of political…
1 hour ago
Ebonyi State governor, Francis Nwifuru, on Monday, ordered the arrest of six commissioners and a local government chairman for their involvement in a breach of contract. Nwifuru said that they were involved in breach of contract terms as regards the building of 140 Housing Units of Izzo and Amaze communities in Ishelu Local Government The…