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Electronic fraud in banking hits N6.1trn by 2021 – CBN

Electronic fraud in banking hits N6.1trn by 2021 – CBN

NAN Mr Sunday Salam-Alada, Director, Consumer Protection Department, Central Bank of Nigeria (CBN) has said electronic fraud losses in the banking system are projected to reach N6.1 trillion by 2021. Salam-Alada disclosed this at the ongoing workshop for Business Editors and Finance Correspondents, organised by Nigeria Deposit Insurance Corporation (NDIC) in Benin. According to him, […]
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154 MFBs, PMBs to get insured deposit sum

154 MFBs, PMBs to get insured deposit sum

Uche Usim, Benin Soothing news came the way of 154 Microfinance Banks (MFBs) and six Primary Mortgage Banks (PMBs) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN) as the Nigeria Deposit Insurance Corporation (NDIC) is set to pay them their insured deposit sum. This was as number of licensed Mobile […]
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Dan Fodiyo varsity establishes Prometric Center for corporate business

Dan Fodiyo varsity establishes Prometric Center for corporate business

Tunde Omolehin, Sokoto As part of efforts to boost its internally generated revenue, the Usmanu Danfodiyo University, Sokoto, has established a world-class ICT and Prometric centre for corporate services, as well as to promote information technology in the country. The centre, an endowment project of the Central Bank of Nigeria (CBN) is adjudged as one […]
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Women are better borrowers, says CBN  

600 Nigerians On Death Row in Asia

The Central Bank of Nigeria has urged more women to approach the banks for small and medium scale loans because they will repay such grants better than their male counterparts. Its Director of Corporate Communications, Mr Isaac Okorafor, said this during an event by the bank at the Lagos International Trade Fair in Lagos on […]
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Reform or die, Osinbajo urges Nigerian banks

Reform or die, Osinbajo urges Nigerian banks

Vice President Yemi Osinbajo Thursday, advised Nigeria’s financial services institutions to urgently embrace operational reforms to meet with the inevitability of the Fintech revolution or risk being left behind by competition. READ ALSO: ‘How Africa FinTech Foundry’ll boost innovation, create opportunities’ Speaking at the ongoing first ever Africa Investment Forum in Johannesburg, Osinbajo said there are […]
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Heritage Bank: Credit schemes ’ll drive farming output

Heritage Bank: Credit schemes ’ll drive farming output

Omodele Adigun The broad objectives of  the intervention schemes championed by the Central Bank of Nigeria (CBN)  in agricultural sector, such as the Commercial Agriculture Credit Scheme (CACS), Commercial Agriculture Development Programme (CADP), the Interest Draw-back scheme, Agricultural Credit Support Scheme as well as the recently introduced Anchor Borrowers’ Programme (ABP), are , among others,  […]
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Nigeria tops Africa’s remittances inflows, says Emefiele

Nigeria tops Africa’s remittances inflows, says Emefiele

The Central Bank of Nigeria (CBN), Governor, Mr. Godwin Emefiele, has said Nigeria is leading other African countries in remittances inflows while being   among the top five globally. He made this known at a remittance household surveys workshop jointly organised by the CBN and the African Institute for Remittances (AIR) on Tuesday in Abuja. Emefiele, who was […]
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Osun disbursed over N4b to MSMEs in six years

Osun disbursed over N4b to MSMEs in six years

Osun State government has disbursed over N4 billion to Micro, Small and Medium Enterprises (MSMEs) in the state. The Commissioner for Commerce, Industries, Cooperatives and Empowerment, Mr. Ismaila Jayeoba-Alagbada, stated this at a press conference in Osogbo yesterday. “Through effective and efficient credit administration and management, the initial fund released to the agency by the […] …

World Saving Day: CBN to partner NERDC on financial literacy programme in schools

World Saving Day: CBN to partner NERDC on financial literacy programme in schools

The Central Bank of Nigeria (CBN) says it will partner the National Education and Research Development Council (NERDC) on inclusion of financial literacy in the curriculum of schools. Mr Kofo Abdusalam-Alada, its Director, Consumer Protection Department, said this  on the sidelines of a programme to commemorate the World Savings Day on Wednesday in Ikare Akoko. […]
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