The Association of Bureaux De Change Operators of Nigeria (ABCON) will tomorrow launch its live run automation portal in Lagos. The initiative is expected to automate all BDCs’ operations with the Nigeria Inter-bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and Central Bank of Nigeria (CBN). It is aimed at improving the level of […]
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Reports of the Nigerian Interbank Settlement System, NIBBS, have indicated that Nigeria’s electronic payment (e-payment) services recorded ₦38.5 trillion transactions in the first half of 2018, H1’18, about 38.4 percent higher than the ₦27.8 trillion in the corresponding period of 2017, H1’17. This feat underlines the increasing wave of technology adoption by individuals and businesses […]
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The Central Bank of Nigeria (CBN) is currently drafting guidelines that would enable the regulation and supervision of the activities of Financial Technology Companies (FinTechs) in Nigeria. Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, disclosed this yesterday, in Lagos, during the Annual General Meeting (AGM) of Nigeria electronic Fraud Forum (NeFF) with […]
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Thousands of customers who own an account with the Nigeria commercial banks without a Biometric Verification Number (BVN) tied to it are likely to forfeits their account to the Government in two weeks time if their owners do not claim them, a Federal High court grants. Trouble for non-BVN account owners started on October 17 […]
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The Central Bank of Nigeria, CBN, has extended the Bank Verification Number enrolment for Other Financial Institutions customers which includes MfBs to December 31, 2017. Also, the apex bank said that with effect from January 1, 2018, all customers without BVN linked to their account should no longer be entitled to debit operations. Director, Other […]
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