BOFIA

Weeks after the Central Bank of Nigeria (CBN) revoked the operating licenses of 42 Microfinance Banks, the apex bank has again bared its fangs, revoking the licenses of seven payment service providers and one switch service provider owing…

The Central Bank of Nigeria (CBN) has condemned the criticisms of its monetary policy measures and actions taken to cushion the adverse effects of the COVID-19 pandemic on the economy by the Nigerian Economic Summit Group (NESG). NESG…

The Senate Committee on Banking, Insurance and other Financial Institutions has expressed concern over the campaign against the presidential assent to the recently passed Bank and Other Financial Institutions Act (BOFIA) 2020 by the…

AMINA HUSSAINI The Senate, on Wednesday, passed the Bill to repeal the Banks and Other Financial Institutions Act (BOFIA) CAP B3 Laws of the Federation of Nigeria 2004 and to re-enact Banks and Other Financial…

...WANTS DIRECTORS HELD RESPONSIBLE FOR BANK FAILURES The Nigeria Deposit Insurance Corporation (NDIC) has urged the National Assembly to prohibit and make criminal offence insider loans by banks. The Managing Director and Chief…

AMINA HUSSAINI  The Central Bank of Nigeria (CBN) has approached the Senate to grant it powers to freeze accounts linked to criminals. The apex bank made the appeal on Wednesday at a Senate Committee's Public…

AMINA HUSSAINI, Abuja The Central Bank of Nigeria (CBN) has unveiled series of guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS), Micro, Small and…

The Central Bank of Nigeria has announced the deployment of its Consumer Complaint Management System (CCMS) to ease the process of addressing issues. The bank made the disclosure in a circular on its Website on Friday, saying the…