The Central Bank of Nigeria has suspended a review settlement banking arrangement to all clearing sessions for banks and merchant banks, expected to begin January 2.
Commercial banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS).
The Central Bank of Nigeria (CBN) has left the country's benchmark interest rate unchanged at 14 per cent, alongside all the other monetary policy rates for the seventh consecutive time over fears of consequent inflation.
The Central Bank of Nigeria (CBN) has reviewed daily mobile money wallet transaction and balance limit, as well as the Bank Verification Number (BVN) requirement for mobile money wallet holders.
The Central Bank of Nigeria (CBN) has unveiled to members of the public an exposure draft on the regulatory framework for banking platform.
Through frequent borrowing from the Central Bank of Nigeria (CBN) by commercial banks, the regulator recorded N3.29 billion as interest income in February 2017.
The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday, the apex bank instructed banks to revert to old charges and refund customers who had been debited.
The Central Bank of Nigeria (CBN) yesterday carried out wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers.
Nigeria's central bank has increased the limit on banks' foreign currency borrowings to 125 percent of shareholders' fund after some lenders breached its regulatory limit due to the recent fall in the naira, according to a circular seen by Reuters.
A total of 28,667,139 users of deposit money bank (DBM) accounts in the Nigerian banking system now have their Bank Verification Numbers (BVN) issued by the system.