MMM: 23 Nigerian Banks Got N28.7bn Inflows From Dubious Transactions

No fewer than 23 Nigerian banks received inflows amounting to N28.7 billion executed in 460,000 transactions through the Mavrodi Mondial Moneybox (MMM) Ponzi scheme within six months, the 2016 annual report of the Nigeria Electronic Fraud Forum (NeFF) has revealed.

Experts tell central bank to reduce MPR to 12 per cent

Some financial experts on Monday called for a downward review of the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) to 12 per cent from 14 per cent, to enhance economic recovery.

Download ALAT App Apk, Wema Bank Lunches Digital Banking

WEMA Bank Plc has launched a full digital banking service, named ‘ALAT’, which it says, signifies the beginning of a revolution in the banking industry; one where the needs of customers are met using technology to provide cheaper, faster and better services. At the moment, a large part of banks’ digital initiatives looks at delivering existing services cheaper, faster and better. The bank is targeting about 3 million customers through the use of the ALAT app technology.

Top 5 Banks For SME Business Owners In Nigeria By Ranking

The banking industry in Nigeria has witnessed a lot of reforms and the evolution of a robust, strong and reliable financial institution is underway. Although Nigerian banks, specifically money deposit banks are yet to be where they should be in terms of a distress proof system as well as a system created to grow the Nigerian economy.

CBN sanctions 12 banks for denying forex access to SMEs

CBN has sanctioned banks denying Small and Medium Enterprises (SMEs) access to foreign exchange (Forex) from the newly instituted SMEs Forex Window

The SME window which opened about two weeks ago is designed to help SMEs import eligible finished and semi-finished items not exceeding $20,000 for an enterprise per quarter - Eight banks avoided the CBN's sanction while 12 banks were barred 

Central bank stops interchange charges on electronic payment

The Central Bank of Nigeria (CBN) has suspended the implementation of interchange regime on electronic payment that involves merchant service until further notice.

Director, banking and payments system department, CBN Mr Dipo Fatokun, ​said this ​in a signed circular to merchant acquirers, card issuers, card schemes, among other stakeholder​s.

CBN Directs Banks to Open Outlets at Major Airports for Sale of Foreign Currencies

To ease the burden of travellers, the Central Bank of Nigeria (CBN) has directed all banks to open Foreign Exchange outlets to sell dollars and other currencies at major airports.

FCMB Group Announces Leadership Changes

FCMB Group Plc has announced the re-organisation of its leadership at the Group level, as well as its flagship company FCMB Group Announces Leadership Changes.

"Identity Check Mobile" MasterCard Announces New Payment App

In the quest to improve reliability, security and speedy transactions online, MasterCard has announced the roll out of the "Identity Check Mobile", a new payment technology application that uses biometrics, including fingerprint and facial recognition, to verify a cardholder’s identity and simplify online shopping.

How and why people commit efraud

Pressure, opportunity and rationalization form the fraud triangle, which information technology security experts now believe are reasons why people commit electronic fraud.

SCAM ALERT: Do Not Fall For This Online and Bank Scam

PLS FOR MOSTLY PEOPLE THAT USE BANK MOBILE APP, BE CAREFUL OF THIS UNSCRUPULOUS ELEMENTS WHO ARE SCAVENGING FOR PEOPLE THEY WILL PREY ON BY SENDING YOU A MAIL USING YOUR BANK AS THE SENDER ADDR.

Watch Video of MMM REPLIES CBN, SEC AND HOUSE OF REPS including media

Following previous reports on mmm, that the Federal Government of Nigeria has initiated moves to shut down MMM operations in Nigeria at first and also house of reps order EFCC, CBN to arrest "mmm promoter", See the reply from mmm member below.

Watch Video:

#Me. Still Believe in MMM. 

FG MAKES MOVE TO SHUT DOWN MMM OPERATIONS IN NIGERIA

The Federal Government of Nigeria has initiated moves to shut down MMM operations in Nigeria.

Know How To Use Diamond Bank Online Self Service

  Diamond Bank Online Self Service is a newly introduced service that allows customers to access some basic features on their bank accounts. This makes it more easier to perform certain fundamental transactions and enquiries without the need to visit the bank halls physically or cueing at the ATM. 

Heritage Bank Schoolympics project has been endorsed Lagos govt.

Lagos State Government has endorsed the Heritage Bank Schoolympics project, an initiative of Heritage Bank Plc, aimed at building a heritage of champions through youth sports competition at the secondary school level

CBN to Begin Special FOREX Intervention for Airlines

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The Central Bank of Nigeria (CBN) has approved a Special Secondary Market Intervention Retail Sales (SMIS) for airlines operating in the country to enable them to access foreign exchange.

Check Out The Latest Code To Buy Airtime With Fidelity Bank Account From Your Mobile Phone Without Internet

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Fidelity has introduced an easy airtime recharge codes that allows customers to recharge their mobile lines from their account with the bank without the need of Internet connection or even downloading of the bank's app. 

Rigobert Song in Hospital after Reportedly Suffering a Stroke-Cameroon’s Ex-Captain

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Rigobert Song, 40, a former Cameroonian international is critically ill in hospital after suffering a severe stroke.

New Way To Open a Domiciliary Account With GTBank, Zenith Bank, FirstBank, UBA and Diamond Bank

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Opening domiciliary account (Dom) is currently achievable with GTBank, Zenth Bank, Diamond Bank, First Bank and UBA from my experiences and information gathered from colleagues and reliable sources. So if you need domiciliary account and want know how you can open domiciliary bank account in Nigeria the above banks, I have got you covered with step-by-step guide to do so.

Naira in free fall, plunges to N480/dollar

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The naira plunged further against the United States dollar to a new record low of 480 on Thursday, down from 472 it recorded on Wednesday.

The currency had continued its two-week free fall on Monday, closing at 445 to the dollar after tumbling to 439 on Friday.

On Tuesday, the currency closed at 452 to the greenback. Also on Tuesday, the external reserves hit an 11-year low of $24.61bn.