BVN

The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024.  This is according to a Friday circular by the apex bank which instructed…

The Federal Capital Territory (FCT) Minister, Nyesom Wike, says obtaining a Certificate of Occupancy (C-of-O) in Abuja will now require a National Identification Number (NIN) and Bank Verification Number (BVN). Speaking to journalists in…

A total of 7,552 Bank Verification Numbers (BVN) are under the watchlist of the Central Bank of Nigeria (CBN) for fraudulent transactions and possible prosecution of the owners. Speaking at the ongoing workshop for Finance…

In pursuit of a, sound financial system in Nigeria, the Central Bank of Nigeria has asked all Development Financial Institutions (DFMs), Micro Finance Banks MFBs, Primary Mortgage Banks (PMBs and other Financial companies to enrol for the…

Up to 101,567 employees of micro, small and medium enterprises have so far received payment under the Federal Government's payroll support scheme. The Senior Special Assistant on Media and Publicity to the President (Office of the Vice…

Future budget projections will henceforth require Federal Ministries, Departments and Agencies (MDAs) to show evidence of funds utilisation. This is one of the critical additions to the budget reforms being undertaken by the Federal…

The Federal Government has apologised and rescinded its directive to all account holders in financial institutions to register their details again. The Federal government had on Thursday demanded all account holders in banks, including…

The US dollar recorded a second successive fall against the naira at Nigeria’s parallel market since last Friday, slumping by 5.38% on Tuesday. At the market on Tuesday, a dollar sold for N440. The rate was N465 on Monday, meaning…

...CBN Okays Global Standing Instruction Guidelines The Central Bank of Nigeria (CBN) has issued guidelines on the Global Standing Instruction (GSI) which enables banks to seize loan defaulters’ money in other banks. The apex bank…

United Bank for Africa (UBA) Plc, has warned its customers to exercise utmost caution in their banking transactions to guard against falling prey to nefarious activities during the Coronavirus lockdown period. Specifically, UBA urged its…