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Central bank mandates indirect PSP to obtain risk-based rating

As from November 11, any institution applying for an indirect participant in the nation’s Payments System must have a satisfactory risk-based rating from the Central Bank of Nigeria (CBN).

Ecobank calls for collaborative efforts to fight cybercrime

Nigerian bank, Ecobank Nigeria Limited has advocated continuous collaboration by all stakeholders in the fight against cybercrimes in the country.g

CBN: Deposit, withdrawal charges on transactions above limit

The Central Bank of Nigeria (CBN) has explained that charges on cash deposit and withdrawals apply only to transactions above stipulated limits.
National Bureau of Statistics NBS

Banks allocate N15.13 trillion credit to private sector

The National Bureau of Statistics (NBS) said the Nigerian banking sector allocated N15.13 trillion as total value of credit to the private sector in the second quarter (Q2) 2019.
Nigeria’s Vice President, Prof. Yemi Osinbajo, has tasked stakeholders from various sectors of the economy, to proffer ways of accelerating development of the pharmaceutical sector, through research and development.

Why VP Osinbajo cannot touch tradermoni, other N-SIP funds – official

Justice Bibiye, Communications Manager, National Social Investment Office (NSIO), says that funds allocated and released for the financing of the National Social Investment Programmes (N-SIPs) are not domiciled in the Office of the Vice President.
The Presidential Election Petition Tribunal has upheld argument by President Muhammadu Buhari that it lacked the jurisdiction to entertain allegation of corrupt practices and voters’ inducement raised against Vice President Yemi Osinbajo in the petition by Atiku Abubakar and the PDP.

Official: VP Osinbajo not involved in disbursement of N-SIP funds

The National Social Investment Office (NSIO) has said that contrary to rumours, the office of Vice President was not involved in financial transactions or the disbursement of funds for the National Social Investment Programmes (N-SIPs)

NCC: Why we crashed USSD price cap

Today’s global economy is increasingly dependent on mobile technology. This is not just for telecommunications services but also for a number of other services offered by adjacent industries.

Insecurity, fraud clog financial inclusion stride

As fiscal and monetary authorities collaborate to ensure that Nigerians keep up the 63.6 per cent financial inclusion stride with the aim of attaining the set target of 20 per cent exclusion rate by 2020, the frightening series of bank robberies and frauds in the system may have put a lid on the agenda.

NIBBS: NIP records increase volume of transactions over cheques in Q1

The Nigerian Interbank Settlement System (NIBSS), says the NIBSS-Interbank Payments (NIP) recorded an increase in the volume of transactions in the first quarter of 2019 over transactions made through cheques.

Bank’s e-transactions hit N34 trillion in Q1

A total volume of 557,083,712 transactions valued at N34.02tn were recorded in Q1 2019 as data on Electronic Payment Channels in the Nigeria’s banking sector.
National Bureau of Statistics NBS

NBS: E-payments hit N34.02 trillion in Q1, 2019

A total of 557,083,712 electronic-payment transactions valued at N34.02 trillion were recorded in selected banks across the country in the first quarter, 2019, Nigeria’s statistics bureau has said.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC: Why unclaimed dividends are increasing

The capital market has continued to record high incidence of unclaimed dividends due to the provision of inadequate proof of ownership of shares by investors, the acting Director General of the Securities and Exchange Commission (SEC), Mary Uduk, has said.

House of Reps to investigate CBN, banks, others over stamp duties non-remittance

The House of Representatives is to constitute an ad hoc investigative panel over the non-remittance of stamp duty by the Central Bank of Nigeria (CBN), money deposit banks and other collection agents.

Central bank mulls extension of payment system vision to 2030

With just one year to the Payment System Vision (PSV) 2020, the Central Bank of Nigeria (CBN) has disclosed that it has commenced a review of the project, just as it hinted of plan to set new targets under a refreshed version tagged PSV 2030.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC urges investors to regularise multiple shareholding accounts before Dec. 31

The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.
The Independent National Electoral Commission (INEC) says it will probe the TraderMoni micro-credit scheme of the Federal Government.

Presidency: TraderMoni loans not for election

Critics of TraderMoni – a social investment programme of the Federal Government – got a reply yesterday to their claim that the scheme was introduced to buy votes during the general elections.
Contrary to speculations in some quarters, the TraderMoni scheme and other GEEP micro-credit products (MarketMoni and FarmerMoni) – a component of the Buhari administration’s Social Investment Programme, are still very much in operation, Mr Laolu Akande, the Senior Special Assistant on Media & Publicity to the President (Office of the Vice President), has said.

Presidency: 30,000 traders have received Tradermoni after elections

Contrary to speculations in some quarters, the TraderMoni scheme and other GEEP micro-credit products (MarketMoni and FarmerMoni) – a component of the Buhari administration’s Social Investment Programme, are still very much in operation, Mr Laolu Akande, the Senior Special Assistant on Media & Publicity to the President (Office of the Vice President), has said.
Point of Sale - POS

NIBSS, others move to tackle e-payment failures

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.

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Golden Eaglets depart Nigeria to Brazil for FIFA U-17 World Cup, which takes place from October 26 to November 17. 1

FIFA promises fans 50% discount for U-17 World Cup match tickets

World football governing body, FIFA, has promised to give out 50% discount to fans who purchase match tickets for the Under-17 World Cup event in Brazil.

Court orders man to pay N44,000 feeding allowance arrears to his child

A Shari’a Court ll sitting at Magajin Gari, Kaduna on Monday ordered one Kabiru Yusuf to pay N44,000, the feeding allowance arrears for his child, staying with his former wife, Shafa’atu Zakari.
Rafael Nadal handed rising star Stefanos Tsitsipas a tennis lesson Thursday as he drubbed him 6-2, 6-4, 6-0 in the Australian Open semi-final.-5

Rafael Nadal named in Spain squad for Davis Cup

World number two Rafael Nadal has been named in the Spain squad for the Davis Cup finals in Madrid next month.
Nigerian Stock Exchange NSE

Financial experts attribute Nigeria stock market lull to economic dislocations

Some financial experts on Monday attributed the incessant lull on the Nigerian Stock Exchange (NSE) to various economic dislocations in the country.

US donates radiation systems to Nigeria

The US Department of Energy, National Nuclear Security Administration, Office of Nuclear Smuggling Detection and Deterrence (US-DOE/NNSA/NSDD) has donated two Mobile Radiation Detection Systems to help combat terrorism in Nigeria.