Nigerian banks are currently undergoing significant changes to improve their operations, increase profitability, and better position themselves in a highly competitive industry.
Major Nigerian banks, such as First Bank, Sterling Bank, and Zenith Bank, have recently announced significant changes in their name, organizational structure, and operations.
CBN Prohibits Cash-in and Cash-out Transactions via PoS for Agents
The Central Bank of Nigeria (CBN) has released a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria.
As per Section 8.3 of the guidelines, the CBN has prohibited agents from using PoS terminals for cash-in and cash-out transactions.
This action was taken to streamline activities and ensure that stakeholders take appropriate risk mitigation measures.
Nigeria’s National Identity Database Reaches 97.49 Million Enrolments in March 2023
Warning issued by Nigerian Customs Service about fake recruitment notice
Fake recruitment notice circulating on social media, NCS warns Nigerians.
The notice is falsely claiming to be from the agency.
The NCS has advised Nigerians to disregard the notice and be wary of scams.