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Nigeria Inter-Bank Settlement System
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).
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.
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.
The federal government has spent about N300 billion on the National Social Investment Programmes in the last three years.
The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.
The Securities and Exchange Commission (SEC) has advised retail investors in the capital market to invest in Collective Investment Schemes and Mutual Funds to help reduce risk.
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 Securities and Exchange Commission (SEC) yesterday extended the deadline for shareholders with multiple accounts till December 31, 2019 from the December 31, 2018.
The Nigerian capital market would soon introduce the electronic initial public offer (e-IPO) system in the country, the Securities and Exchange Commission (SEC) announced on Wednesday.
The Securities and Exchange Commission has extended the forbearance deadline for shareholders with multiple accounts to December 31, 2019 from December 31, 2018 for more investors to embrace the initiative aimed at reducing unclaimed dividends.
The Central Bank of Nigeria said it was developing a Risk Based Cyber Security Framework for banks and payment service providers to combat internet fraud in the country.
As the Federal Inland Revenue Service (FIRS) prepares its legal team to tackle tax evaders in the country, its Voluntary Asset and Income Declaration Scheme (VAIDS) is now making waves having shot up the revenue profile of the Federal Government by 42 per cent.
Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, the Nigeria Inter-Bank Settlement System (NIBSS) banking industry statistics shows that the number of customers using financial services reduced in 2017.
The House of Representatives has ordered an investigation into the N20tn said to have been collected as stamp duty between April 2013 and March 2017, but which was not remitted to the Consolidated Revenue Fund of the Federation.
The National Bureau of Statistics (NBS) says 213.69 million transactions valued at N19.33 trillion are recorded in the third quarter as data on Electronic Payment Channels in the banking sector.
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