Nigerian commercial banks closed at least 2 million bank accounts in the first quarter of 2024, Q1’24. The move was aimed at eradicating questionable accounts, particularly as some customers failed to…
Tag: Nigerian banks
BREAKING: CBN supplies more new notes to banks
With rising concerns around the seeming disappearance of newly redesigned notes, the Central Bank of Nigeria has said it is supplying more quantities of the new notes to banks. …
Cyber Hackers Steal $11m from Nigerian Banks, companies, others
A team of hackers known as OPERA1ER has stolen at least $11 million from companies in Nigeria, Benin Republic, Cameroon and 11 other countries and Argentina. A new report from Group-IB, a…
What Nigerian banks charge you for borrowing
Nigerian banks are charging an average interest rate of between 4 percent and 36 percent on loans given to customers in various sectors of the economy, especially agriculture and forestry, manufacturing and…
Heavy Sanctions Imposed On Nigerian Banks Over Mutilated Notes
The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks…
Ask account owners how they got money – EFCC orders Nigerian banks
The Economic and Financial Crimes Commission (EFCC) has advised bankers to ask their customers how they got money in their accounts. The Chairman, Abdulrasheed Bawa, spoke at a meeting with the Association…