The Nigerian Communications Commission (NCC) has confirmed that the impasse between telecommunication operators and deposit money banks (DMBs) over the accumulated N120 billion unstructured supplementary service data (USSD) debt has been resolved after the intervention of the Central Bank...
Information available to The Guardian has revealed that the dispute over the N120 billion unstructured supplementary service data (USSD) debts owed telcos by deposit money banks (DMBs) is far from being resolved.
Cameroun, Croatia, Korea and Vietnam have been added to the money laundering watch list of the Central Bank of Nigeria (CBN), according to a circular issued to deposit money banks (DMBs).
In the face of outcry over rising transaction costs of financial services, deposit money banks (DMBs) have extended electronic money transfer levy (EMTL) to domiciliary accounts.
As public rage turns against deposit money banks (DMBs) with images of concealed new banknotes in banking halls, the Association of Corporate Affairs Managers of Banks (ACAMB) has insisted the financial institutions do not have any reason to hoard the currency...
Barely three days to Jan. 31 deadline for old naira exchange, the Central Bank of Nigeria (CBN) has engaged 200 agents to fast track its cash swap policy in Jigawa.
Some bank customers have decried scarcity of the redesigned N1,000, N500 and N200 notes in Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs).
Financial data obtained by The Guardian suggest that deposit money banks (DMBs) had less reason to worry about liquidity last year as borrowing from the Central Bank of Nigeria (CBN) to meet urgent short-term needs dropped by 15.3 per cent to N11.01 trillion.
7 Dec 2022
CBN said the circular is in line with the cashless policy of the apex bank.The circular directed all deposit money banks and other financial institutions to note and comply with a number of directives.