Ecobank has rewarded four customers with N1m each for using the electronic payment channels of the bank regularly.
During the cheque presentation at its super rewards event in Lagos, the bank said it introduced the programme to promote the use of its electronic payment channels that offered convenient banking.
The four winners are Mr John Sokeipiriala, Ahmed Said, Onashile Obafemi, and a couple…
PremiumTrust Bank has received ‘Nigeria’s Fastest Growing Bank 2022’ and ‘Bank of The Year 2022 (Sports Development)’ awards from the Management of BusinessDay Banks & Other Financial Institutions Awards Committee.
The management of BAFI Awards noted that…
The naira crisis worsened as the currency in circulation fell to 1.54 trillion naira.
February 20, 2023
As the Naira crisis worsened, the total amount of money in circulation in the Nigerian economy fell from 3.3 trillion naira to 1.54 trillion naira, according to documents from the Central Bank of Nigeria.
This was due to a huge shortage of new naira banknotes, while a dire…
The Chartered Institute of Bankers of Nigeria on Friday said it was liaising with the Body of Banks’ Chief Executive Officers to address the current challenges occasioned redesign of the N1,000, N500, and N200 notes.
It said the banks would continue to remain open to serve the public as long as it was safe to do so.
It, however, said the safety of bank workers was paramount.
Several…
Problems accessing new Naira banknotes could increase as bank workers go on strike starting Monday.
The industrial action, is owing to attacks on bank workers by depositors of the old N,1000, N500 and N200 notes.
The Association of Banking, Insurance and Financial…
The Central Bank of Nigeria has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.
It, however, pegged the maximum amount the banks can collect at N500,000.
The CBN maintained that the old currencies were no more legal…
Protest has erupted in Akure, the Ondo State capital, over the refusal of commercial banks to receive old naira notes from customers as well as pay out new notes.
The protest began at the First Bank, Alagbaka by angry customers who had waited for several hours without being attended to, according to a report by The Nation.
Other banks in Akure have shut businesses to avoid being…
The Supreme Court on Wednesday affirmed the validity of the use of old 200, 500 and 1000 naira notes.
The apex court maintained that the February 8 hearing which paused the implementation of the February 10 deadline ban on the use of old naira notes still subsists.
The…
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that Point of Sale agents who charge above N200 for the CBN cash swap programme will be arrested and jailed when caught.
He said this on Tuesday during a visit to the Ministry of Foreign Affairs, to…
New Naira: Falana fires CBN for failing to comply with Supreme Court ruling.
February 14, 2023
Rights activist and Senior Advocate of Nigeria, Femi Falana, has lambasted the Central Bank of Nigeria for allegedly flouting the interim injunction of the Supreme Court suspending the implementation of the February 10 deadline on the use of the old banknotes.
The CBN had moved the deadline earlier set for the expiration of the legal tender status of the old notes from January 31 to February 10…