The son of the late Dr Femi Adekanye, a former Chief Executive Officer (CEO) of the defunct Commerce Bank Ltd, Temidayo Adekanye, has filed a suit before the National Industrial Court (NIC) in Lagos against the Nigerian Interbank Settlement System

As the economic situation of the country deteriorates, fraudsters may be getting smarter in their craft as operators of agent banking, popularly known as point of sale (POS), in the Federal Capital Territory (FCT) have raised concerns over rising financial frauds, which threaten their businesses.

There were noticeable crowds at various bank outlets across Lagos, yesterday, as customers struggled to link their National Identification Numbers (NIN) to their Bank Verification Numbers (BVN).

The number of bank customers that have registered for the Bank Verification Number (BVN) in the last two weeks was 291,232, bringing the total number to 60.49 million.

The Nigeria Inter-Bank Settlement System (NIBSS) has directed banks to disconnect all non-deposit financial institutions from its transfer list.

FintechNGR, the umbrella body for fintech players, pioneer and Fintech Association in Africa has canvassed support for the burgeoning ecosystem in Nigeria.

The House of Representatives on Wednesday mandated the Committee on Public Accounts to investigate revenue leakages through the Remita platform and non-compliance by revenue-generating agencies of the government on standard operating procedures and other allied service level agreements signed among deposit money banks, office of the AGF, Systemspec, Nigeria Interbank Settlement System (NIBSS), and the Central Bank of Nigeria (CBN).

The Securities and Exchange Commission (SEC) has unveiled plans to create a new e-dividend portal that would help simplify the process of mandating accounts in the capital market.

The rise in electronic fraud could be amongst one of the contributing factors – is your account also at risk?

Shareholders have lamented the rising unclaimed dividends in the capital market currently put at N190 billion, stating that unless the parties involved in the processing of the claims adopt robust technology infrastructure that would enable investors to process their unclaimed dividend at the comfort of their homes, the menace may not be eliminated in the capital market.

Tensions are escalating faster than the public can guess in the financial circle as the determination of the current administration to bring to book, those found wanting in the past nine years under the leadership of Godwin Emefiele...