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The move is in line with ongoing efforts to evolve a robust collateral management regime which would be proportionate to transactional level of participants within the payment system.
According to Ajao, the TAT had been configured at 15 seconds in agreement with banks and processors. However, delayed responses from Issuers after this timeout in recent times could cause authorised debits not to return to the terminal before the set TAT.
Latest report from the Nigerian Interbank Settlement System (NIBSS), has shown that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion between January and end of September, 2018.
Managing Director, Nigeria Inter Bank Settlement System (NIBSS), Mr Niyi Ajao, says the nation’s financial inclusion rate has increased to 63.6 per cent in 2018 from 45.4 per cent recorded in 2016.
The Association of National Accountants of Nigeria (ANAN) has commended President Mohammadu Buhari initiative to address the challenges of transparency, accountability, corruption and poor service delivery through Public Finance Management reforms.
No fewer than 3,000 Retirees of Ebonyi State Work Force have been shortlisted for the payment of Pension and Gratuity from the State Government, having successfully been captured in the ongoing verification exercise conducted by the State Ministry of Finance and Economic Development.
A Kabusa Grade I Area Court, Abuja on Friday ordered that an apprentice, Olaniyan Joshua, charged with attempting to steal a vehicle, be remanded in prison, pending hearing on bail application.
Tipper drivers in Anambra state on Friday blocked the ever-busy Enugu-Onitsha expressway in Awka in protest of alleged extortion by agents of state government.
Operatives of the Economic and Financial Crimes Commission (EFCC), Port Harcourt’s Zonal Office, have arrested a suspected Facebook accounts hacker, Okohwan Kelvin.
The star witness invited by Atiku Abubakar and the Peoples Democratic Party (PDP), Osita Chidoka, admitted on Friday that he has never seen the purported server allegedly utilised by INEC to transmit results.
Women in Adamawa State, rising as members of different political parties, civil society organisations and other interest groups, have condemned what they described as political marginalisation against them, which they blame for their poor showing in the last general elections.
Lampard enjoyed a good spell with Derby County last season, he led the Rams into the Championship play-off finals, he feels he has the talents at his disposal to challenge for the Premier League competitors when the season begins.
Super Eagles’ midfielder Alex Iwobi has hailed the Super Eagles’ third place finish at the 2019 Africa Cup of Nations (AFCON), saying it was a great achievement for a young team.Guinea, Burundi
The Federal Operations Unit (FOU), Zone A, of the Nigeria Customs Service (NCS) on Tuesday said it intercepted contraband worth over N1.26 billion.
Suspected bandits have killed 10 people and injured five others in a reprisal attack carried out by a group of bandits in Kirtawa village of Safana LGA of Katsina state.
Sudan's feared paramilitaries have beaten and tortured to death a civilian in a town in war-torn Darfur, a doctors committee linked to the protest movement said Tuesday.